POST FALLS, ID

0.8% AVERAGE RENT GROWTH
/
8.67% POPULATION GROWTH
/
21k LABOR FORCE
/
96%  AVERAGE OCCUPANCY
/
0.8% AVERAGE RENT GROWTH
/
96% average occupancy
/
3.5% unemployment rate
/
$1,397 AVERAGE Market rent
/
50k population
/
8.67% POPULATION GROWTH
/
$65.5k Median HH income
/
-7.1%  home price growth
/
0.8% AVERAGE RENT GROWTH
/
8.67% POPULATION GROWTH
/
21.4k LABOR FORCE
/
96%  AVERAGE OCCUPANCY
/

ABOUT POST FALLS

Post Falls

Situated along the beautiful Spokane River, Post Falls offers residents and visitors access to a wide range of outdoor recreational activities, including boating, fishing, and hiking. Due to the rate of growth and blank slate for development, Post Falls has become an attractive destination for families and professionals seeking a mix of suburban living and easy access to urban amenities. Just 30 years ago, Post Falls was a town of 7,600 and has since boomed into a thriving town of 50,000+ residents, growing 14.2% annually the last 32 years.

The city boasts a thriving economy with a diverse range of businesses, including manufacturing and technology companies. Post Falls is also known for its excellent schools and family-friendly atmosphere, making it a popular choice for those looking to raise a family in a safe and welcoming community. Overall, Post Falls' strategic location, economic opportunities, and quality of life make it an appealing market in the Inland Northwest.

WHY INVEST HERE?

Idaho Demand

There has been a flood of residents leaving Washington, Oregon, and California, seeking refuge in a state that generally has more of a free economic society. Idaho offers this in abundance, resulting in record levels of demand for residents, tenants, and even employers moving across state lines to Post Falls.

01
Urban Core

Unlike many markets, Coeur d’Alene offers a truly urban core with a vibrant downtown, high-rise buildings, new luxury condos, waterfront parks and a bustling marina, driving outsized rents, demand, and values for premium locations with proximity to Sherman Ave, the downtown main strip.

02
Non-Disclosure State

As a non-disclosure state, your sales price is not public information or recorded at the county level, meaning you can find outsized returns by buying deals at a discounted price or selling at an outsized price compared to what would typically be a transparent market of comps and values. In addition, the property tax value reassessment after a sale is not captured at the same levels as in other states where the county knows exactly what you paid for a building and can assess your asset accordingly.

03

What to watch out for

The greater Coeur d’Alene market, including Post Falls, has been historically known as a tourism-driven market, which means there are higher highs and lower lows as the tourism industry is often the first to go in changing market conditions. This seems to be changing, with far more permanent residents and more employers moving to the market, but that thesis has not been tested. Secondly, the winter sees more snow and is colder for longer than many other Inland Northwest markets, so getting any projects going, finding or selling deals, or really any activity can come to a standstill for a few months deep into the winter. 

KEY MARKET INDICATORS.

0.8%
average rent growth
96%
average occupancy
3.5%
unemployment rate
$1,397
average market rent
50k
population
8.67%
population growth
$65.5k
median hh income
-7.1%
home price growth

INLAND NORTHWEST LOCAL MARKET UPDATES

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SUCCESS STORIES.

Diligence in the listing process pays dividends at closing

36 Units
$1,400,000

In September 2021, the ownership group of Irving Place wanted to close by the end of the year, so they hired Multifamily Mason to expose the asset to the most qualified Inland Northwest multifamily investors. As the local market expert, Mason invited his exclusive buyers network to tour the property ahead of a public launch. During tours, Mason’s team discovered a major CapEx requirement not previously budgeted for, brought in a local contractor, and identified a solution at ⅓ the cost of the current owner’s solution. As a result, all exclusive buyers submitted offers above pricing guidance, we negotiated non-refundable deposits, and went from listing-to-close in 99 days, setting a market best in-place cap rate.

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One-on-one dedicated outreach finds the buyer

36 Units
$1,400,000

The owner of brand new construction in Pendleton, Oregon had previously listed his property for sale with a commercial broker who could not procure a single offer for six months. Our team met with the owner who needed the capital for a 1031 exchange purchase, and identified the current listing issues, namely, incorrectly priced, lacking broad exposure, and leaving buyer questions unanswered. We completed a thorough property analysis, identifying keep deal story points, sourced debt and property management quotes, and re-launched to our engaged buyers network as well as the public market across the Western US. Mason made 145 direct phone calls to buyers specific to this deal, and ultimately sourced multiple offers, providing a smooth closing process and successful 1031 exchange for the Seller in a changing and challenging market in late 2022.

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Creative sales strategies helped us achieve client’s long-term investing goals

36 Units
$1,400,000

The owner of two development sites across Spokane had owned the land for multiple generations. Their plans were to transition equity from vacant sites into cash flowing assets. The Multifamily Mason team met with the owners and identified an opportunity to maximize the sale value of their sites with broad-based marketing and deal storytelling, the opposite of how most sites are sold in Spokane. We targeted and reached out directly to hundreds of regional and local developers with multifamily-specific development data, renders, and proforma inputs. In addition, during our negotiations with buyers, we devised a creative seller financing strategy that both maximized the sale price and immediately converted the owners equity into cash flow - meeting all the Sellers goals. Ultimately, the Spokane Valley site closed at $22,727 per buildable unit, far above market value.

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