Guest Opinion: It’s time to rein in Boise’s unbridled housing costs. Here’s how

The Boise metro area leads the nation in runaway rents and home prices. Among the 20 fastest-growing metro regions tracked by the U.S. Census, Boise had the largest increases in housing costs from 2014 to 2020. Over those six years, rents increased by 6.3% per year and home prices by 11.1% per year, according to data from Zillow.

You can’t blame it all on growth. Charleston, South Carolina, and Austin, Texas, grew faster than Boise over that period yet their rents increased at half Boise’s rate. The population of Raleigh, North Carolina, grew almost as fast as Boise’s, but that city’s single-family home prices increased at 5.8% compared to Boise’s 11.1%.

The cause of rapid price escalation is not Californians showing up with cash; it’s city policies that block the timely development of new housing. To keep prices reasonable for everyone, Treasure Valley communities need to allow more homes of all shapes and sizes.

Fast-growing cities like Houston show that it’s possible to maintain affordability. If rents within the city of Boise had escalated at Houston’s rate of 2.3% instead of 6.3% over the last six years, Boise renters would pay $115 million less each year. The best housing affordability program for low- and moderate-income households are policies that encourage building enough homes. Lower rents mean fewer households require public assistance, and public dollars can go farther for those most in need.

So what needs to change?

Other cities offer a menu of policy solutions to help spur the private market to build more homes at all price points. Pro-housing policies include reducing minimum lot sizes, reducing off-street parking requirements, allowing duplexes and triplexes in zones currently reserved for single, detached housing and streamlining approval of permits. These policies don’t require radical change. Existing neighborhoods can add in-fill development at a scale and form that fits existing communities.

Boise Mayor Lauren McLean recently announced a 20-member committee representing diverse community interests that will undertake a two-year effort to recommend updates to the city’s zoning code. It’s a perfect opportunity to evaluate what has worked in other regions and find solutions tailored to Boise. By adding more homes — and home types — within the city limits, abundant housing policies can improve affordability, limit sprawl at the urban fringes and reduce the car commutes that clog highways and worsen our air quality.

The housing shortage is not just a problem in Boise and the Treasure Valley. The national pro-housing policy and research group Up for Growth estimates that policy barriers to housing in cities across the country have led to a shortage of over 7 million homes, raising costs and denying economic opportunity.

A federal bill — H.R. 4351, the Yes In My Backyard (YIMBY) Act — would require cities receiving federal funds to report on their progress in adopting policies to encourage abundant homes and keep prices down. The YIMBY Act does not preempt local control, but it does require cities to review and account for policies that impede home-building. The YIMBY Act passed the U.S. House of Representatives with unanimous bipartisan support and is now in the banking and housing committee chaired by Sen. Mike Crapo, R-Idaho.

Given what’s happened in the Treasure Valley over the last six years, now is the time for local and federal action to rein in galloping housing costs — and the YIMBY Act would be a good way for Boise and cities across the United States to get started.

This story was originally published September 4, 2020 at 4:00 AM.