Cost of Living in Boone County, Iowa
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 #788 of 3,144 counties for affordability (top 25%)
Data Story
About Cost of Living in Boone County, Iowa
Boone balances income and housing well
Boone County renters spend just 12.4% of income on housing, below both Iowa's 14.1% average and the national sustainability threshold. With median income at $79,741—above the national average of $74,755—the county delivers genuine housing security.
Among Iowa's most affordable counties
Boone County's 12.4% rent-to-income ratio ranks near the very top of Iowa's affordability spectrum. The $826 median rent, paired with strong median income, creates one of the state's best housing bargains.
Boone competes with Benton for value
Boone County's $79,741 median income trails Benton's $84,742 but far exceeds most rural peers like Adair ($66,176) and Appanoose ($51,146). The $826 rent sits in the mid-range, making Boone's income-to-cost ratio one of the cluster's strongest.
Strong income supports quality housing
Boone renters earning $79,741 spend $826 monthly on housing (12.4% of income) while homeowners commit $1,128. Homeownership costs run high (reflecting a $191,200 median home value), but strong income sustains both renting and buying comfortably.
Boone: prosperity meets affordability
If you're relocating within Iowa and want above-average income potential with below-average housing strain, Boone County delivers. Your housing costs stay modest while the county's economic strength signals job stability and community investment.
Cost of Living Advisory: Boone County
Affordability Verdict
For renters in Boone County, the market is affordable. Expect to pay around $826/month in gross rent, with 23.0% of renter households considered cost-burdened.
Rent vs. Own
At $826/month rent versus $1,128/month in owner costs, renting is roughly $302/month cheaper — a 27% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $33,040/year. For owner costs at the 28% rule, the required income is roughly $48,343/year. With a median household income of $79,741, most households can comfortably afford rent here. Notably, 23.0% of renter households in Boone County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Iowa, Boone County is less affordable than Davis County by roughly 6% ($826/mo vs $878/mo).
Affordability Calculator
See how your income compares to housing costs in Boone County
Rent Burden
12.4%
of gross income
Max Housing (28% Rule)
$1,861
per month
Owner Cost Burden
17.0%
of gross income
You can likely afford the median home in Boone County
Median home value is $191,200. Estimated monthly cost: $1,526 vs. your max of $1,861.
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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