Boone County, Kentucky 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 37% above the Kentucky median More expensive than 71% of counties in Kentucky$161,197
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Median rent 42% above the Kentucky median Most expensive county in Kentucky$1,372
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Boone County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,197 | $118,017 | $248,835 |
| Price Trend (Annual %) | 4.6% | 3.8% | 7.5% |
| Median Gross Rent | $1,372 | $967 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Boone County is about 37% higher than in Kentucky. Rent is about 42% higher than the Kentucky average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Boone County, up about 4.6% and 5.2% a year respectively. Rent is changing faster.
Median rent in Boone County rose about 51.8% between 2015 and 2024, from $904 to $1,372. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Boone County.
Buying the median-priced home in Boone County costs roughly 9.8 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Boone County. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Boone County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,197 | $118,017 | $248,835 |
| Median Household Income | $99,828 | $64,312 | $80,455 |
| Price-to-Income Ratio | 1.6 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Boone County rose about 25.7%, while median household income rose about 45.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Boone County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.1% | 61.3% | 58.5% |
| Rental Rate | 22.7% | 28.4% | 31.2% |
| Vacancy Rate | 4.2% | 10.3% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Boone County has a homeownership rate of 73.1%, higher than the Kentucky average of 61.3%. Its housing vacancy rate is 4.2%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Boone County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.72 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1987 | 1981 | 1978 |
| Median Number of Rooms | 6.3 | 5.7 | 5.5 |
The typical housing unit in Boone County was built around 1987. On average, 2.7 people live in a home with about 6.3 rooms, staying for about 15.0 years on average.
Boone County, KY Housing Compared With Nearby Counties
How Boone County, KY compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Boone County, KY | 139,822 | $161,197 #1/3 | $1,372 #1/3 | 76.3% #1/3 |
| Kenton County, KY | 171,173 | $127,436 | $1,068 | 70.8% |
| Hamilton County, OH | 829,354 | $132,433 | $1,075 | 59.3% |
Frequently Asked Questions
Common questions about the housing market in Boone County, Kentucky.
What is the median home price in Boone County, Kentucky?
The median home price in Boone County, Kentucky is $161,197, higher than the Kentucky average of $118,017.
What is the average home price in Boone County, Kentucky?
The typical home price in Boone County, Kentucky, reported as the median sale price, is $161,197. 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, Kentucky?
The median gross rent in Boone County, Kentucky is $1,372 per month, higher than the Kentucky average of $967.
What was the median gross rent in Boone County in 2020?
In 2020, the median gross rent in Boone County, Kentucky was $1,029 per month.
What is the price-to-rent ratio in Boone County, Kentucky?
The price-to-rent ratio in Boone County, Kentucky is about 9.8, meaning it would take roughly 9.8 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Boone County.
Are home prices or rent rising faster in Boone County, Kentucky?
Both home prices and rent are rising in Boone County, up about 4.6% and 5.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Boone County, Kentucky?
73.1% of households in Boone County, Kentucky own their home, higher than the Kentucky average of 61.3%.
What is the vacancy rate in Boone County, Kentucky?
The housing vacancy rate in Boone County, Kentucky is 4.2%, lower than the Kentucky average of 10.3%.
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