Driggs, Idaho, a tiny town drawing comparisons to Jackson Hole, Wyoming, is receiving some attention from high-net-worth home buyers seeking a leisurely luxury lifestyle.
“The area is a blend of the West and skiing mountain culture,” said broker Paul Kelly of Fall Line Realty Group at Compass. “Dress up means get out your nice jeans. We have a fancier, more sophisticated crowd with each passing year, but we are no Aspen. Folks come here to get away from the trappings of much of the higher-end American culture, seeking privacy, anonymity and to blend in with the locals.”
It is the kind of uber-friendly community, he added, where “folks stop in the middle of their day to pull someone out of a snowbank or do some other good deed.”
Despite the comparison to tony Jackson Hole, Driggs has managed so far to keep its own identity.
“It may be an up-and-coming, rapidly growing area in geographical proximity to Jackson so the comparison is logical, but in my opinion, there’s really only one Jackson Hole,” said Elizabeth Cheney, an associate broker at Jackson Hole Sotheby’s International Realty. “The Jackson Hole name is still far more recognizable than Driggs, and for many residents, that’s just fine as it helps maintain the authenticity.”
Jeff Heilbrun, director of real estate at the Driggs’s private luxury development Tributary, called it “a lesser-known alternative to Jackson Hole. It’s a one-stoplight town that is a base camp to Yellowstone National Park.”
Spain Short, a designated broker at Tributary for developer Tributary Land Co., added that “it’s a very friendly and laid-back town with an authentic Western feel.”
Boundaries
The city of Driggs, population of just over 2,500, covers 2.76 square miles in Teton County. It is bounded on the north by West 4000 North, on the east by Stateline Road, on the south by West 4000 South and on the west by the Caribou-Targhee National Forest.
Price Range
Houses in Driggs range from about $399,000 to $4.95 million, and lots start at $147,500, Heilbrun said.
The median sale price in the last 12 months, according to Rock Homes, was $772,500. Cheney said that for $2 million to $2.5 million, buyers can “get a high-quality, single-family home” and that properties with views and water frontage command premium prices.
Single-family new builds, such as those at Tributary, which has 98 homes with more under construction, are priced at $3.5 million to $4.95 million, the highest prices in the city.
Housing Stock
Buyers have a choice of standalone single-family homes, townhomes, condos and buildable lots in a variety of styles ranging from mountain modern and rustic contemporary to traditional.
Although Driggs’s commercial area has older homes, some erected nearly a century ago, that are zoned as mixed use, most of the housing was built in the late 20th or early 21st century.
“We have everything from ranching and agricultural properties to luxury private-club residences and everything in between,” Cheney said, adding that in addition to Tributary, Moraine Square, the Flats at Teton Peaks, Stone Peak, Teton Creek, Creekside Meadows, Stone Ridge and Rendezvous are some of the newer developments that offer turnkey ownership and maintenance.
What Makes It Unique
Driggs, elevation 6,000 feet, “is a haven for adventure seekers and nature enthusiasts seeking a serene small-town experience,” Heilbrun said. “Surrounded by the Teton, Big Hole and Snake River mountain ranges, the area offers endless opportunities for exploration, and activities such as skiing, hiking, mountain biking and world-class fishing are readily available.”
He added that there’s a notable culinary scene.
“For some, it’s the unique balance you’re able to achieve between work, play and life,” Cheney said. “For others, it’s an escape. For some, it’s a more spiritual connection to nature and the Tetons.”
Luxury Amenities
The city is a hub of cultural and outdoor activities and is a diverse dining destination that includes everything from higher-end restaurants and pubs with locally crafted beers and distilled spirits to the century-old soda fountain in Corner Drug Pharmacy.
Dining options include Three Peaks Dinner Table, which serves what its website calls “a taste of Teton Valley;” Forage Bistro and Lounge, which offers “chef-inspired mountain comfort food with a twist;” Teton Tha; and O’Rourke’s Restaurant, a traditional bar and grill. The Grand Teton is known for the vodka it makes out of Idaho potatoes and its distillery tours.
Hiking, mountain biking, fly fishing, rafting down the Snake River, hot-air balloon rides, and downhill and cross-country skiing are among the activities Driggs is known for.
In addition, the city hosts a variety of indoor and outdoor events ranging from music festivals and a snow-carving competition to a hot-air balloon rally and a country fair.
The Grand Targhee Resort, which is a 25-minute drive away, offers everything from skiing and snowshoeing to swimming and golf.
Residents send their children to the Learning Academy of Teton Valley, which enrolls students in preschool through eighth grade. Mountain Academy, based in nearby Victor, takes students from 18 months old through eighth grade.
Who Lives There
The population of Driggs is small yet diverse: “Farmers, outdoor enthusiasts, athletes, artists, conservationists, animal lovers, C-level executives, city transplants—we have a bit of everything,” Cheney said. “They are all over the board from multi-generational families who have been here for hundreds of years to the new younger families and professionals.”
The latest wave of luxury development is attracting many second-home buyers, mainly from Texas, Chicago and California, Heilbrun said.
Outlook
Although the frenzied bidding wars of the pandemic have abated, Cheney said “there’s still consistent demand. … Buyers here are very educated and know what’s reasonable, so there’s less inclination to overpay now than a few years ago.”
Asking prices soared to a peak of nearly $1.6 million in early 2022 before rising interest rates broadly cooled the U.S. housing market, according to data from Realtor.com. Prices have leveled off in the $700,000 range in the years since, with median price in August at $717,000. Though that compares to median prices in the mid-$400,000s before the pandemic, said Cheney.
“I’m very optimistic about the future investment potential for Driggs and Teton Valley in general,” she said. “As more and more people visit the areas either as a stop off from Jackson or as a final destination, the general buzz seems to be that Teton Valley has a lot to offer.”
Kelly, too, sees a bright future for the area, despite the fact that the market cooled down in the summer of 2024, the cumulative effect of prices bobbing up and down for the last two years. “Transaction volume is significantly off peak performance,” he said. “However, low inventory has kept prices mostly stable.”
The area’s long-term prospects, he added, are excellent because “our valley is on the national and international radar as it has never seen before.”
