Boone, IA—50036
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Boone, IA
As of Oct '25, the median home price in Boone, IA is $204,000, with a year-over-year change of 5.0%. This indicates that home prices in Boone, IA are increasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $204,000 | 5.0% |
| Single Family | $208,000 | 5.1% |
| Condos | $108,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $95,000 | 0.0% |
2 Bed | $158,000 | 5.3% |
3 Bed | $222,000 | 5.2% |
4 Bed | $289,000 | 5.5% |
| 5 Bed | $385,000 | 5.8% |
% of Housing Stock
Rental Trends — Boone, IA
As of July '25, Rentcast reports the average rent in Boone, IA is $972, with a year-over-year rent change of 19.9%. Per bedroom, the median rent as of July '25 in Boone, IA is studios: $425, 1-bedrooms: $702, 2-bedrooms: $869, 3-bedrooms: $1,360, 4-bedrooms: $1,200. The most common rental property sizes in Boone, IA are 2-bedroom and 1-bedroom, accounting for 36.2% and 30.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $840 | $972 |
| Studio Rent | $425 | $425 |
| 1 Bed Rent | $683 | $702 |
| 2 Bed Rent | $835 | $869 |
| 3 Bed Rent | $1,170 | $1,360 |
| 4 Bed Rent | $1,200 | $1,200 |
% of Rental Stock
Property Listings — Boone, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Boone, IA is 54. This is a increase of 53.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $220,000 | 1.0% |
Listing Count | 106 | 32.0% |
| Listings as % of Homes | 0.7% | 32.0% |
Days on Market | 54 | 53.0% |
Demographics — Boone, IA
As of the latest ACS Survey released in 2023, Boone, IA has a population of 16,300, which has remained stable by -0.8% over the past 5 years. Boone, IA is a moderately popular place for families, as children make up 20.3% of the population. The area has a moderately educated workforce, with 28.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,300 | -0.8% |
% Under 18 | 20.3% | -8.1% |
% Seniors | 17.8% | 6.0% |
% WFH | 7.9% | 125.7% |
% w/ College Degree | 28.0% | 17.2% |
As of the latest ACS Survey released in 2023, Boone, IA is a predominantly white area, with 92.3% of the population identifying as white. The white population has shrunk by 1.4% in the last 5 years. The second most common race or ethnicity in Boone, IA is hispanic, making up 3.4% of the population. Foreign-born residents account for 0.7% of the population in Boone, IA, and this percentage has decreased by 53.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.3% | -1.4% |
% Black | 0.9% | 50.0% |
% Hispanic | 3.4% | 6.2% |
% Asian | 0.3% | -40.0% |
% Foreign Born | 0.7% | -53.3% |
Mortgage and Risk — Boone, IA
According to HUD data as of 2023, there were 353 mortgage originations in Boone, IA, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Boone, IA. Investor activity is low, as 8.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 353 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Boone, IA
As of 2024, the percent of homes in Boone, IA under the Section 8 program is 8.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Boone, IA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 151 |
Total Units Section 8 | 114 |
% Rentals under Section 8 | 8.2% |
% Occupied Section 8 | 96.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $47 | $683 | $730 |
| 2 Bedroom | $105 | $835 | $940 |
| 3 Bedroom | $150 | $1,170 | $1,320 |
| 4 Bedroom | $130 | $1,200 | $1,330 |
Affordability — Boone, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $204,000 |
| Median Household Income | $74,100 |