On Josh Bevan’s 20-mile daily commute from Meridian to Caldwell, Idaho, he passes new apartment development after new apartment development.
“The number of apartments they're putting in is just astounding,” said Bevan, a food science professional who moved to Idaho in 1995. “And you’re seeing more car washes.”
Bevan counts these among the many indicators behind recent news that in 2024, Idaho’s population surpassed 2 million for the first time.
According to the U.S. Census Bureau, the state's population reached 2,001,619 as of July 1, marking an increase of 30,497 residents from the previous year.
This growth rate of 1.5% places Idaho as the seventh-fastest pace in the nation, continuing a long-running trend of population expansion that replaced dairy farms around the Boise suburb of Meridian with subdivisions.
So much so, that Bevan likes to joke, “Meridian still has their annual Dairy Day parade, and I always told people they should change it to ‘Subdivision Days.’ There isn't a single dairy that exists in Meridian.”
But there is an In-N-Out Burger, that standard bearer of California-style fast food that now has three outlets in Idaho. Bevan said he doesn’t go to the one near his house because the lines are so long.
Conversely, as the least populate state, Wyoming does not have an In-N-Out Burger, which is just one way the Cowboy State stands in stark contrast to neighboring Idaho and every other surrounding state.
Wyoming's population, estimated at 587,618 in 2024, has shown only slight increases since 2014, when it stood at 583,159. While Wyoming's population previously peaked at 586,389 in 2015, it faced a decline from 2016 to 2018 because of an energy downturn, resulting in nearly six years of negative net migration.
Since 2019, however, the state has seen a reversal of this trend, with positive net migration contributing to its recent growth, according to data from the U.S. Census Bureau and analysis by Neilsberg Research.
Wyoming’s population saw a slight growth of only 0.4% from July 2023 to July 2024, with a net migration of 2,146 residents.
Wyoming appears to be the hole in the donut, where migration numbers are prone to stagnate or sink, while in states all around the populations continue to puff up.
Apartments Galore
In 2024 alone, nearly 24,300 people moved to Idaho, and many were in need of an apartment.
Developers recognized the coming demand for housing years ago. From 2018 to 2023, Boise saw significant growth in apartment construction, with an average of 2,325 apartments completed annually from 2018 through 2021, rising to 2,600 in 2022 and about 3,100 in 2023.
Looking ahead, multifamily starts are projected to decline by 20% nationwide in 2024, with about 1,900 apartment units still under construction in Boise, indicating a potential slowdown in new developments, according to a Boise housing needs assessment and a 2024 report from the U.S. Department of Housing and Urban Development.
While Wyoming's population isn’t booming like Idaho’s and other surrounding states, its housing market is experiencing growth in new residential and multifamily construction.
Specifically, according to a 2024 report from the Wyoming Department of Administration & Information, single-family building permits for new privately owned residential construction increased by 12.6% year-over-year in the second quarter of 2024. Additionally, multifamily unit permits saw a significant rise of 66.7% during the same period.
This growth is happening amid a scarcity of homes on the market, contributing to rising home prices.
Other Surrounding States
According to Neilsberg Research, Utah has experienced remarkable population growth, increasing by 1.17 million people from 2000 to 2023, reaching a total of 3.42 million.
Between 2013 and 2023, Utah's population grew by 518,961, reflecting a 17.90% increase. In contrast, Colorado's population rose by 1.55 million during the same period, reaching 5.88 million, with a growth of 606,836 (11.51%) from 2013 to 2023. Both states have shown consistent year-over-year population growth without any declines from 2000 to 2023.
Compared to Wyoming's relatively slow annual growth rate of around 0.4%, Nebraska's population has shown more steady growth, increasing from 1.71 million in 2000 to an estimated 2.01 million in 2024, which reflects a total growth of 15.47% and an average annual growth rate of 0.67%, according to Neilsberg Research and macrotrends.com.
The highest growth rate in Nebraska was between 2019 and 2020 at 1.59%, contributing to a population increase of 112,566 (6.03%) over the last decade (2013-2023).
South Dakota has experienced even more rapid growth, with its population rising from 755,707 in 2000 to an estimated 919,318 in 2023, achieving a total growth of 21.65% and an average annual growth rate of 0.94%.
Notably, South Dakota's highest single-year growth rate was 1.51% from 2021 to 2022, with a decade increase of 76,567 (9.09%).
Montana has seen the most significant growth among the three states on Wyoming’s eastern and northern borders, with its population increasing from 903,305 in 2000 to an estimated 1.13 million in 2023, resulting in a total growth of 25.41% and an average annual growth rate of 1.10%.
Idaho Old And New Collide
Josh Bevan’s daily commute takes him through the fastest growing corridor along Interstate 84 heading west of Boise. Bevan lives in Meridian and works in Caldwell, where he said population growth is reflected in the growing pains experienced by residents of Caldwell.
“Caldwell has actually grown considerably, and downtown Caldwell's quite nice, really,” said Bevan, describing the evolution of this farming community and home to the College of Idaho. Neilsberg Research calculates its annual growth rate over the last 10 years to be 3.3%, and in response, the community continues to add amenities. With that comes controversy over parking.
The Indian Creek Plaza development in downtown Caldwell hosts more than 200 events annually, attracting more than 300,000 visitors.
To help handle the influx of visitors, Caldwell tried to implement a paid parking system, which backfired and was eventually suspended because residents got so angry, said Bevan.
“This is old Idaho meets new Idaho in Caldwell,” said Bevan.
The controversy echoed similar concerns raised by residents and business owners in Cheyenne, who don’t want to pay to park.
Wyoming should take note: Displeasure with paid parking does not seem to slow down growth in the paid parking industry. One side effect of Idaho’s population growth appears to be a robust outlook for those who build and own paid parking structures.
Boisedev.com reported in 2024 that Micron Technology is poised to build one of Idaho’s largest parking garages with room for 2,813 vehicles as part of a massive $15 billion site expansion.
