Boone, NC 28607 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Boone, NC—28607

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$499,000

0.2% YoY Growth

Household Income

$44,100

7.3% YoY Growth

Days on Market

7.0% Shorter YoY

Home Price Forecast

1.3%

Median Rent

$1,480

15.6% YoY Growth

1-Bed Rent

$863

32.3% YoY Growth

2-Bed Rent

$1,320

11.4% YoY Growth

3-Bed Rent

$2,400

20.1% YoY Growth

Home Price Trends — Boone, NC

As of May '26, the median home price in Boone, NC is $499,000, with a year-over-year change of -0.2%. This indicates that home prices in Boone, NC are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$499,000	-0.2%
Single Family	$519,000	-0.6%
Condos	$379,000	2.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Boone, NC

As of July '25, Rentcast reports the average rent in Boone, NC is $1,790, with a year-over-year rent change of -15.6%. Per bedroom, the median rent as of July '25 in Boone, NC is studios: $2,040, 1-bedrooms: $961, 2-bedrooms: $1,550, 3-bedrooms: $2,140, 4-bedrooms: $2,320. The most common rental property sizes in Boone, NC are 2-bedroom and 1-bedroom, accounting for 48.0% and 21.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,480	$1,790
Studio Rent	$960	$2,040
1 Bed Rent	$863	$961
2 Bed Rent	$1,320	$1,550
3 Bed Rent	$2,400	$2,140
4 Bed Rent	$2,410	$2,320

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% of Rental Stock

Studio

3.8%

1 Bedroom

21.4%

2 Bedrooms

48.0%

3 Bedrooms

12.4%

4 Bedrooms

12.6%

5+ Bedrooms

1.9%

Property Listings — Boone, NC

As of May '26, Realtor.com reports that the median days on market for a home in Boone, NC is 42. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$679,000	-1.0%
Listing Count	199	9.0%
Listings as % of Homes	0.4%	9.0%
Days on Market	42	-7.0%

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Demographics — Boone, NC

As of the latest ACS Survey released in 2023, Boone, NC has a population of 35,500, which has remained stable by -0.1% over the past 5 years. Boone, NC is a less popular place for families, as children make up 10.4% of the population. The area has a highly educated workforce, with 53.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	35,500	-0.1%
% Under 18	10.4%	-1.9%
% Seniors	13.8%	15.0%
% WFH	9.5%	15.9%
% w/ College Degree	53.8%	15.5%

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As of the latest ACS Survey released in 2023, Boone, NC is a predominantly white area, with 87.2% of the population identifying as white. The white population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in Boone, NC is hispanic, making up 6.7% of the population. Foreign-born residents account for 4.0% of the population in Boone, NC, and this percentage has increased by 33.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	87.2%	-4.0%
% Black	3.2%	52.4%
% Hispanic	6.7%	76.3%
% Asian	1.2%	0.0%
% Foreign Born	4.0%	33.3%

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Mortgage and Risk — Boone, NC

According to HUD data as of 2023, there were 460 mortgage originations in Boone, NC, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Boone, NC. Investor activity is low, as 5.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	460
% Conventional Loans	95.0%
% Government Loans	5.0%
% Investor Loans	5.0%
% Second Loans	18.0%
% Cash Out Refinance	5.0%

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Rentals and Section 8 — Boone, NC

Boone, NC lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	188
Total Units Section 8	188
% Rentals under Section 8	N/A
% Occupied Section 8	89.2%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$157	$863	$1,020
2 Bedroom	-$30	$1,320	$1,290
3 Bedroom	-$830	$2,400	$1,570
4 Bedroom	-$240	$2,410	$2,170

Boone, NC—28607

Key Metrics at a Glance

Home Price Trends — Boone, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Boone, NC

% of Rental Stock

Property Listings — Boone, NC

Demographics — Boone, NC

Race and Ethnicity

Mortgage and Risk — Boone, NC

Mortgages

Rentals and Section 8 — Boone, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Boone, NC

Home Price to Income Ratio

Boone, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Blowing Rock, NC

Todd, NC

Deep Gap, NC

Zionville, NC

Sugar Grove, NC

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	10.3
Median Home Price	$499,000
Median Household Income	$44,100

Boone, NC—28607

Key Metrics at a Glance

Home Price Trends — Boone, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Boone, NC

% of Rental Stock

Property Listings — Boone, NC

Demographics — Boone, NC

Race and Ethnicity

Mortgage and Risk — Boone, NC

Mortgages

Rentals and Section 8 — Boone, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Boone, NC

Home Price to Income Ratio

Boone, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Blowing Rock, NC

Todd, NC

Deep Gap, NC

Zionville, NC

Sugar Grove, NC

Frequently Asked Questions

What is the average home price in Boone, NC 28607?

How have home prices in Boone, NC 28607 changed over the past year?

What is the home price projection for Boone, NC 28607?

What are the demographics of Boone, NC 28607?

How long does it take homes to sell in Boone, NC 28607?

What is the average rent price in Boone, NC 28607?