Boone, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Boone Neighborhoods Since 2000




Boone, IA Real Estate Data


Boone Housing Market Information

With 12,692 people, 5,245 houses or apartments, and a median cost of homes of $124,491, house prices in Boone are solidly below the national average.

Single-family detached homes are the single most common housing type in Boone, accounting for 73.09% of the city's housing units. Other types of housing that are prevalent in Boone include large apartment complexes or high rise apartments ( 13.56%), duplexes, homes converted to apartments or other small apartment buildings ( 7.54%), and a few row houses and other attached homes ( 3.34%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Boone. Owner-occupied housing accounts for 67.87% of Boone's homes, and 51.13% have either three or four bedrooms, which is average sized relative to America.

The housing in Boone was primarily built before 1939 ( 47.42%), making the housing stock in Boone some of the oldest overall in America, although there is a range of ages of homes in Boone. The next most important housing age is between 1970-1999 ( 26.91%), followed by between 1940-1969 ( 20.20%). There's also some housing in Boone built between 2000 and later ( 5.47%).

Vacant housing appears to be an issue in Boone. Fully 11.18% of the housing stock is classified as vacant. Left unchecked, vacant Boone homes and apartments can be a drag on the real estate market, holding Boone 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.

Boone Home Appreciation Rates

Appreciation rates for homes in Boone have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.91%, which ranks in the top 50% nationwide. This equates to an annual average Boone house appreciation rate of 0.38%.

NeighborhoodScout's data show that during the latest twelve months, Boone's appreciation rate, at 4.46%, has been at or slightly above the national average. In the latest quarter, Boone's appreciation rate has been -0.32%, which annualizes to a rate of -1.26%.

Notably, Boone's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Iowa, our data show that Boone's latest annual appreciation rate is higher than 50% of the other cities and towns in Iowa.

Average Home Values

 

Median Home Value:
$124,491

Boone, IA HOME PRICES

Value Range
> $1,088,000 0.6
$816,001 - $1,088,000 0.0
$544,001 - $816,000 1.2
$435,001 - $544,000 0.4
$326,001 - $435,000 1.1
$218,001 - $326,000 10.5
$109,001 - $218,000 43.7
$54,001 - $109,000 33.0
$0 - $54,000 9.5

Average for IA
Low for Nation

Value Relative to Nation Value Relative to State
63.9163787550507 51.1111111111111

Number Of Homes And Apartments:
5,245

Rent & Ownership

 

Average Market Rent:
$681 / per month

Homeownership Rate

Homeownership
Owners 67.87
Renters 32.13
Vacant 11.18

Housing Market Details

 

Age of Homes

AGE OF Boone HOMES
2000 or Newer 5.5
1970 - 1999 26.9
1940 - 1969 20.2
1939 or Older 47.4

Types of Homes

TYPE OF Boone HOMES
Single-Family 73.1
Townhomes 3.3
Small Apt. Buildings 7.5
Apt. Complexes 13.6
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Boone HOMES
No Bedroom 2.25
1 Bedroom 12.01
2 Bedrooms 30.60
3 Bedrooms 39.20
4 Bedrooms 11.92
5 or more bedrooms 4.01

Boone Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
27.88% 1.46% 2 3
* 10 is highest