The typical owner-occupied home in Boone County is worth about $376,200, 72% above the Indiana median of $218,200 and 13% above the national median of $332,700. Owners pay a median $2,919 a year in property taxes, about 0.78% of their home's value, close to the Indiana rate of 0.74%. The median household earns $111,250 a year, so the median home costs 3.4 times the median income (3.0 times for Indiana). 79% of occupied homes here are lived in by their owners, and 73% of those owners still have a mortgage.
Boone County at a glance
| Boone County | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $376,200 | $218,200 | $332,700 |
| Median property tax paid per year | $2,919 | $1,614 | $3,119 |
| Property tax as a share of value | 0.78% | 0.74% | 0.94% |
| Median household income | $111,250 | $71,957 | $80,734 |
| Homes lived in by their owners | 79% | 71% | 65% |
| Owner homes with a mortgage | 73% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,012 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 17.2% | 18.1% | 21.0% |
| Median rent | $1,359 | $1,062 | $1,413 |
| Rent as a share of renters' income | 26.0% | 29.1% | 30.6% |
| Median year homes were built | 1995 | 1976 | 1980 |
| Vacant homes | 3.4% | 8.8% | 10.1% |
| Population | 74,718 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Boone County
At this week's average 30-year rate of 7.11%, buying the median Boone County home of $376,200 with 20% down costs about $2,426 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,053, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $103,965 for the 20%-down payment. That payment is 26% of the median Boone County household income of $111,250; at that income and 20% down, the 28% guideline points to a home of about $403,000.
The median rent here is $1,359 a month, so owning the median home costs about $1,067 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $75,240 |
|---|---|
| Loan amount | $300,960 |
| Principal and interest | $2,025 |
| Property taxes (0.78% a year) | $245 |
| Homeowners insurance (our estimate, 0.5% a year) | $157 |
| PMI | $0 |
| Total per month | $2,426 |
Change the numbers in the calculator
| Down payment | $13,167 |
|---|---|
| Loan amount | $369,386 |
| Principal and interest | $2,485 |
| Property taxes (0.78% a year) | $245 |
| Homeowners insurance (our estimate, 0.5% a year) | $157 |
| FHA mortgage insurance | $166 |
| Total per month | $3,053 |
Change the numbers in the calculator
Questions about home buying in Boone County
What is the median home value in Boone County?
About $376,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Boone County?
Homeowners pay a median $2,919 a year, which is about 0.78% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Boone County?
For the median home with 20% down at 7.11%, the payment is about $2,426 a month. Keeping that under 28% of gross income takes about $103,965 a year.
More about Boone County
- Mortgage Refinance in Boone County
- Debt Relief in Boone County
- Home Equity Loans in Boone County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data