Boone County, Indiana Housing Market
In Boone County, Indiana, the median home value is $376,200, with a median monthly rent of $1,359. This places Boone County at #349 nationally out of 3134 counties by median home value, and #2 within Indiana.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,125
- Establishments: 2,662
- BLS QCEW, 2025
Housing Supply
- Single-family: 907
- Multi-family: 288
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 30,420 (avg $155,563)
- Outflow: 27,974 (avg $159,383)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Boone County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 46050 | 329.2 | +7.79% | 2025 |
| 2 | 46075 | 265.2 | +10.24% | 2025 |
| 3 | 46147 | 234.2 | +3.03% | 2025 |
| 4 | 46268 | 227.3 | +11.53% | 2025 |
| 5 | 46069 | 238.6 | +7.90% | 2025 |
| 6 | 46077 | 267.1 | +4.49% | 2025 |
| 7 | 46052 | 259.6 | +8.12% | 2025 |
| 8 | 47933 | 213.8 | +2.68% | 2025 |
| 9 | 46112 | 230.6 | +4.89% | 2025 |
| 10 | 46071 | 228.2 | +0.22% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Boone County Compares
| Metric | Boone County | Indiana Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $376,200 | $191,898 | $227,706 |
| Median Gross Rent | $1,359 | $910 | $968 |
| Owner Occupancy Rate | 78.8% | 76.3% | 73.3% |
| Price/Rent Ratio | 23.1 | 17.5 | 18.7 |
Market Analysis
The median home value in Boone County is 96.0% above the Indiana state average and 65.2% above the U.S. national average. The median rent of $1,359/month is 49.3% above the state average.
With a price-to-rent ratio of 23.1, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Boone County has an owner-occupancy rate of 78.8%, compared to 76.3% in Indiana and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Sublette County | Wyoming | $376,200 | $1,209 |
| Linn County | Oregon | $376,400 | $1,320 |
| Adams County | Idaho | $376,500 | $830 |
| Parker County | Texas | $375,900 | $1,500 |
| Belknap County | New Hampshire | $374,900 | $1,167 |
Other Counties in Indiana
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Hamilton County | $405,500 | $1,574 | 76.1% |
| Hendricks County | $307,600 | $1,436 | 78.2% |
| Monroe County | $285,200 | $1,193 | 54.0% |
| Johnson County | $284,600 | $1,271 | 72.7% |
| Porter County | $281,500 | $1,219 | 77.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).