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 about Scout's Real Estate Data
With a population of 6,227, 2,610 total housing units (homes and apartments), and a median house value of $103,648, house prices in Boonville are some of the most affordable in Indiana as well as the nation.
Single-family detached homes are the single most common housing type in Boonville, accounting for 77.10% of the city's housing units. Other types of housing that are prevalent in Boonville include large apartment complexes or high rise apartments ( 10.56%), duplexes, homes converted to apartments or other small apartment buildings ( 8.03%), and a few mobile homes or trailers ( 3.00%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Boonville. Owner-occupied housing accounts for 72.07% of Boonville's homes, and 56.30% have either three or four bedrooms, which is average sized relative to America.
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. Boonville's housing was primarily built during this period, from the '40s through the '60s. A full 35.32% of the city's housing hails from this era. Other housing ages represented in Boonville include homes built between 1970-1999 ( 32.32%) and housing constructed before 1939 ( 29.04%). There's also some housing in Boonville built between 2000 and later ( 3.32%).
Real estate appreciation rates in Boonville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.82% during the period.
Over the last year, Boonville appreciation rates have trailed the rest of the nation. In the last twelve months, Boonville's appreciation rate has been 2.40%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Boonville were at 1.97%, which equates to an annual appreciation rate of 8.10%.
Importantly, this makes Boonville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Indiana, our data show that Boonville's latest annual appreciation rate is lower than 90% of the other cities and towns in Indiana.
Very Low for Nation
Very Low for IN