Regardless of where you go in Rexburg, you can see the burgeoning growth the town is going through. New businesses on Main Street and 2nd E, community housing off Yellowstone Highway, and a revolving door of restaurants dominate the landscape. Truly, real estate in Rexburg presents a unique market.
Whether you are looking to get into real estate, rent commercial or residential space, or buying your first home, we at The Real Estate Office are here to help. However, there are a few things you should know about real estate in Rexburg before you begin.
The Influence of BYU-Idaho
The principal draw to Rexburg for those who are not from the Snake River Valley is, by and large, the university. Brigham Young University-Idaho recently announced their largest fall enrollment ever with projections for even further growth.
So what does this mean for real estate in Rexburg?
Rexburg isn’t necessarily known for its industry, but a growing four-year university that boasts small class sizes will require more staff. The university’s ethos has attracted professors and administrators from some of the most prestigious of higher education in the nation.
You do the math — as the university grows, we can expect to see an influx of faculty. And these future educators need a place to live.
The Influence of Students
As we’ve mentioned before, enrollment at BYU-Idaho is up. The university reels students in with its affiliation with the Church and then what happens? Many of them fall in love with Rexburg and decide they don’t want to leave.
Even while in school, students have a big impact on real estate in Rexburg. If you’ve driven down S 3rd W, N Yellowstone Hwy, or University Boulevard you’ve noticed the myriad structures popping up to accommodate married students who no longer qualify for BYU-Idaho approved housing.
The influence of students on real estate in Rexburg is not only manifest in residential structures. Within the past year, we’ve counted at least ten new restaurants that have come to town. That doesn’t even account for the many other businesses and credit unions that have come and gone.
And this is all to support the growing student population — both during and after their tenure as students.
The Influence of Locals
The true and stalwart of Rexburg — those whose roots run deep in the town and in its heritage — also have an effect on real estate in Rexburg. As time marches on, homes become older, mortgages are paid off, kids move out of the house and to another part of Rexburg, and the cycle continues.
So even if big industry doesn’t bring jobs and people into Rexburg by the scores, residents of the town are still looking for real estate.
The industrious spirit of Rexburg also supersedes a simple desire to change home addresses. A new business venture to capitalize on the growing number of students, a lifelong desire to open a restaurant or any number of other things have compelled Rexburgites in the past to get into the commercial real estate market.
There’s no way around it — our little town is growing. And with growth comes expansion and a blossoming economy. You can feel it. Rexburg is on the verge of something big, and real estate is at the very heart of it.
So whether you are a student looking for property, a business owner trying out your next venture, or a future faculty member ready to join the growth, be ready for the unique market of real estate in Rexburg.