I live there. Last year (2008) the increases through most of the year were about 3% and then flat through now (March 2009), with very small declines in some price brackets. In my opinion housing is relatively expensive there (well maybe not compared to Seattle, etc.) and starter homes run $180,000- maybe 230,000. Watch how they count square footage. Unlike some areas of the country they often count basement space. Many basements are damp - even if someone has finished it. Many lots are not even close to being level. There are some flood zones in that town despite the fact that the creeks are shallow and the area often has months of little to no rain in the summer/fall. The west part of town has lots of student housing due to the university (West A street and streets off of that, along with the areas right around the university). There are parts of the old part of town (including much of Fort Russell area around east city park - which is a a lovely park with many cultural events happening there, lots of people love living around there and it is in walking distance to almost everything) that are NOT single family zoned and so broken into apartments.

If you are looking for a rental home many people put signs in the yard rather than use a management company so driving around looking for signs is one way to find a rental house. Others list homes on the university's online "classifieds". Google 'Vandal Trading Post Moscow' to find that. Craig's list will have some too.

I don't know the Russian market! Dos Vedonio

Moscow, ID is a relatively remote area and I would say that home values there are not affected by the national increases and declines. What will hurt all real estate markets are the economic currents circulating nation wide. The credit crunch and increased energy and living expenses are eroding consumer purchasing power. I would check for with a local agent and get their take.