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Idaho
Mortgage Calculator
How Much Will Your Mortgage Be in Idaho?
Idaho is located in the northwest U.S., sharing a small portion of the border with Canada. Its rugged landscape features scenic stretches of the Rocky Mountains. The state has a large agricultural base with the United States Forest Service owning 38% of Idaho’s land.
Idaho has been coined the “Gem State” for its natural beauty. Although Idaho is ranked the 7th least-densely populated state in the country, the capital of Boise has been referred to as the fastest growing metro area in the country, according to Forbes. Also, see FHA Loan in Idaho for details and requirements for a home in the state.If you are a first-time homebuyer in Idaho, check out our homebuying guide for Idaho.
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Stats to Know
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Source of Info PropertyPath
Factors That Can Affect Your Idaho Mortgage Calculations
Idaho Job Stats to Consider
Idaho is a major agricultural state producing close to one-third of the potatoes grown in the U.S. The main industries in Idaho include food processing, paper products, lumber and wood products, machinery, electronics manufacturing, chemical products, silver and other mining, and tourism.
The median household income in Idaho is $52,225, below the national average of $60,366, based on information collected from the Census ACS 1-year survey in 2017. However, the unemployment rate is relatively low at 2.6%, as of March 2020, according to information gathered by the Department of Numbers. This is far below the national average of 4.4.%.
Idaho has marginal tax rates for income tax. Thus, the more you earn, the higher the tax rate. These brackets range from 1.6% to 7.4%. Sales tax is 6% with additional taxes applied to lodging at hotels, motels, and campgrounds.