Cost of Living in Boone County, Illinois
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Boone County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Boone County ranks #2,210 of 3,144 counties for affordability (bottom 30%)
Data Story
About Cost of Living in Boone County, Illinois
Higher incomes, higher housing costs
Boone County's median household income of $81,638 exceeds the national average by $6,883, and residents leverage that advantage: the 14.9% rent-to-income ratio stays nearly even with the national average despite housing costs running $174/month above U.S. norms. This is a high-income county with proportionally high housing prices.
Highest income, highest rents in sample
Boone County's median income of $81,638 leads this eight-county sample, and median rent of $1,011 is the highest—about $174 above Illinois's state median. The 14.9% rent-to-income ratio remains manageable only because of strong household earnings.
Priciest market in the group
Boone County's $1,011 rent and $1,310 monthly mortgage reflect the most expensive housing market in this sample. Higher incomes support these costs, but price-sensitive movers will find cheaper alternatives in surrounding counties.
Ownership premium over renting
At $1,011 monthly, rent claims 14.9% of income, while homeownership costs $1,310 (19.5%) on a median home value of $198,600. Boone County is the only county in this sample where homeownership notably outpaces rental affordability.
For high earners seeking premium markets
Boone County's strong incomes and robust housing prices make it ideal for affluent relocators who value higher-wage employment markets. If your income aligns with the county median or above, this county offers modern housing stock and economic vitality.
Cost of Living Advisory: Boone County
Affordability Verdict
Housing in Boone County is affordable. The median rent is $1,011/month against a median household income of $81,638, putting rent at 14.9% of income.
Rent vs. Own
Renters in Boone County pay $1,011/month on average, compared to $1,310/month for homeowners. This market favors renters by about 23%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $40,440/year. For owner costs at the 28% rule, the required income is roughly $56,143/year. With a median household income of $81,638, most households can comfortably afford rent here. Notably, 28.0% of renter households in Boone County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Sangamon County where rent averages $954/month, Boone County is approximately 6% more expensive.
Affordability Calculator
See how your income compares to housing costs in Boone County
Rent Burden
14.9%
of gross income
Max Housing (28% Rule)
$1,905
per month
Owner Cost Burden
19.3%
of gross income
You can likely afford the median home in Boone County
Median home value is $198,600. Estimated monthly cost: $1,585 vs. your max of $1,905.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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