Canyon Ridge

About Canyon Ridge

The Cushman & Wakefield Mountain States Multifamily Advisory Group is excited to present the exclusive listing of Canyon Ridge Apartments, a 288-unit institutional-quality asset in one of the nation’s most compelling growth markets, Boise, Idaho. The asset is performing exceptionally well, currently offering zero concessions while achieving strong lease trade-outs and continued rent growth, validating the strength of demand at the property. Canyon Ridge attracts an exceptionally affluent renter base with an average resident income of $168K, while Boise’s average home values have surged 97% since 2018, underscoring persistent housing demand. Renting at Canyon Ridge carries a 37% cost advantage over homeownership in Boise, a spread that continues to widen as values appreciate. At an average market rent of $2,304 per month, residents allocate just 16% of gross monthly income to rent, well below the broader Boise submarket’s 23.9% RTI, reflecting both the depth of Canyon Ridge’s resident quality and substantial headroom for sustained rent growth.

The asset sits at the epicenter of two transformative economic catalysts: Micron Technology’s semiconductor campus, the largest capital investment in Idaho history, projected to generate 24K direct and indirect jobs, and the Boise Airport’s $700M capital improvement program. Canyon Ridge residents enjoy immediate access to Downtown Boise’s vibrant lifestyle amenities and world-class outdoor recreation. Canyon Ridge represents a rare opportunity to acquire an irreplaceable asset in one of the West’s most supply-constrained markets.