Boone County, Iowa Housing Market Prices
Boone County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 164% above the Iowa median Among the 3 most expensive counties in Iowa$405,319
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Median rent 13% below the Iowa median$845
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Boone County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $405,319 | $153,425 | $248,835 |
| Price Trend (Annual %) | 24.5% | 7.5% | 7.5% |
| Median Gross Rent | $845 | $971 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Boone County is about 164% higher than in Iowa. Rent is about 13% lower than the Iowa average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Boone County, up about 24.5% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Boone County rose about 31.4% between 2015 and 2024, from $643 to $845. Over the same span, rent in Iowa rose about 39.6%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Boone County.
Buying the median-priced home in Boone County costs roughly 40.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Boone County. The price-to-rent ratio in Iowa is about 13.2.
| Metric | Boone County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $405,319 | $153,425 | $248,835 |
| Median Household Income | $84,575 | $75,133 | $80,455 |
| Price-to-Income Ratio | 4.8 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Boone County rose about 1942.9%, while median household income rose about 57.7% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Boone County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.7% | 65.6% | 58.5% |
| Rental Rate | 18.2% | 25.9% | 31.2% |
| Vacancy Rate | 9.2% | 8.5% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Boone County has a homeownership rate of 72.7%, higher than the Iowa average of 65.6%. Its housing vacancy rate is 9.2%, compared with 8.5% in Iowa.
Housing Stock
| Metric | Boone County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1973 | 1971 | 1978 |
| Median Number of Rooms | 6.2 | 5.9 | 5.5 |
The typical housing unit in Boone County was built around 1973. On average, 2.4 people live in a home with about 6.2 rooms, staying for about 14.0 years on average.
Boone County, IA Housing Compared With Nearby Counties
Boone County, IA is the smallest of the 4 counties compared here, 26,668 residents against a local median of 100,466. Boone County, IA's median home price, at $405,319, runs 55% above the $260,937 typical of the counties around it.
Median rent tells the same story from another angle: $845 against a local median of $1,018, 17% below it. The one measure here that carries a verdict is homeownership, and at 16% above the local median it puts Boone County, IA at the better end of the local range. The counties themselves spread $169,421 on median home price, so Boone County, IA sits at one end of an already wide local range rather than apart from it. Boone County, IA has the highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Boone County, IA | 26,668 | $405,319 #1/4 | $845 #3/4 | 80.0% #1/4 |
| Dallas County, IA | 107,966 | $279,595 | $1,311 | 69.0% |
| Webster County, IA | 36,886 | $110,174 | $784 | 70.3% |
| Story County, IA | 100,466 | $260,937 | $1,018 | 55.5% |
Frequently Asked Questions
Common questions about the housing market in Boone County, Iowa.
What is the median home price in Boone County, Iowa?
The median home price in Boone County, Iowa is $405,319, higher than the Iowa average of $153,425.
What is the average home price in Boone County, Iowa?
The typical home price in Boone County, Iowa, reported as the median sale price, is $405,319. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Boone County, Iowa?
The median gross rent in Boone County, Iowa is $845 per month, lower than the Iowa average of $971.
What was the median gross rent in Boone County in 2020?
In 2020, the median gross rent in Boone County, Iowa was $746 per month.
What is the price-to-rent ratio in Boone County, Iowa?
The price-to-rent ratio in Boone County, Iowa is about 40.0, meaning it would take roughly 40.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Boone County.
Are home prices or rent rising faster in Boone County, Iowa?
Both home prices and rent are rising in Boone County, up about 24.5% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Boone County, Iowa?
72.7% of households in Boone County, Iowa own their home, higher than the Iowa average of 65.6%.
What is the vacancy rate in Boone County, Iowa?
The housing vacancy rate in Boone County, Iowa is 9.2%, higher than the Iowa average of 8.5%.
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