Real Estate Showdown: Seattle Vs. Boise

SEATTLE, WA - People of ordinary means got some bad news on Tuesday: home prices in Seattle increased for the eighth straight month, basically certifying Seattle as having the nation's most on-fire housing market. The median price of a home in Seattle is now $729,000, which is out of reach even for people earning six figures (a 20 percent down payment - which is standard in the mortgage industry, and allows homeowners to avoid paying mortgage insurance - would be about $145,000; you would have to save $6,000 per month for two years to have that much in the bank).

Tuesday's real estate news inspired us to start a new column called Real Estate Showdown, where we'll show you what you could buy in another city for the median price of a home in Seattle.

For today's showdown, we're pitting Seattle against another Pacific Northwest city: Boise, Idaho. Boise isn't as big as Seattle, but it's got a lot going for it: a burgeoning tech industry, world-class universities, a great music scene, and access to outdoor activities on par with Seattle.

First up, our Seattle home. (One note: there wasn't a home on the market in Seattle for exactly $729,000.)

$725,000
1407 33rd Ave., Unit A
The home: This is a townhouse in the Madrona neighborhood, which is just east of Capitol Hill, and very close to the shores of Lake Washington. The home is about 1,400 square feet, has three bedrooms and two full baths, but not much in the way of outdoor space. It's been on the market for about two weeks, and given it's location and size, it'll probably sell for slightly more than $725,000. It's definitely a nice place!

And now, our challenger from Boise:

$729,000
5899 W Hollilynn Dr Boise, ID
The home: Haha, wow! Well, clearly this home in Boise is a little bigger than the one in Seattle. True, it's about a 12 mile drive to downtown Boise, and you're basically in the middle of the desert, but this home is on steroids. It's got five bedrooms, sits on nearly five acres, and is about 4,100 square feet (not counting that pool). With the sun and mountains in the background, this home is downright California-like.

The winner: Depends on your taste, but for the money, the Boise home seems to be a way better value. The Boise home costs about $175 per square foot compared to the Seattle home's $475 per square foot. It might be a little bit more of a hassle to maintain, but if you can afford $729,000, you can probably afford the pool supplies. Which one would you choose?

Images via Realtor.com