Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 3,888, 1,617 total housing units (homes and apartments), and a median house value of $80,997, house prices in Booneville are solidly below the national average.
Single-family detached homes are the single most common housing type in Booneville, accounting for 77.36% of the city's housing units. Other types of housing that are prevalent in Booneville include duplexes, homes converted to apartments or other small apartment buildings ( 14.71%), large apartment complexes or high rise apartments ( 6.01%), and a few mobile homes or trailers ( 1.49%).
The most prevalent building size and type in Booneville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.85% owning and 50.15% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Booneville's housing was primarily built during this period, from the '40s through the '60s. A full 50.30% of the city's housing hails from this era. Other housing ages represented in Booneville include homes built between 1970-1999 ( 33.06%) and housing constructed between 2000 and later ( 10.80%). There's also some housing in Booneville built before 1939 ( 5.84%).
Vacant housing appears to be an issue in Booneville. Fully 10.91% of the housing stock is classified as vacant. Left unchecked, vacant Booneville homes and apartments can be a drag on the real estate market, holding Booneville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Booneville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.88%, which ranks in the top 40% nationwide. This equates to an annual average Booneville house appreciation rate of 0.48%.
Over the last year, Booneville appreciation rates have trailed the rest of the nation. In the last twelve months, Booneville's appreciation rate has been 2.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Booneville were at -1.14%, which equates to an annual appreciation rate of -4.49%.
Notably, Booneville's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Arkansas, our data show that Booneville's latest annual appreciation rate is lower than 60% of the other cities and towns in Arkansas.
|$783,001 - $1,044,000||0.0|
|$522,001 - $783,000||0.0|
|$417,001 - $522,000||0.0|
|$313,001 - $417,000||0.0|
|$209,001 - $313,000||2.2|
|$104,001 - $209,000||27.9|
|$52,001 - $104,000||42.5|
|$0 - $52,000||24.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Booneville HOMES|
|2000 or Newer||10.8|
|1970 - 1999||33.1|
|1940 - 1969||50.3|
|1939 or Older||5.8|
|TYPE OF Booneville HOMES|
|Small Apt. Buildings||14.7|
|SIZE OF Booneville HOMES|
|5 or more bedrooms||0.61|