Average Rent in Boone County, IA↓ Rents falling 12.4% YoY🔻 3rd cheapest in IA

Boone County, IA has rental prices ranging from $572/month to $1,226/month in 2021, depending on unit size. The typical 1-bedroom apartment rents for $626/month — 55% below the national average of $1,400/month. With a median household income of $79,741/year, spending $626/month on a 1-bedroom represents 9% of gross income — within the recommended 30% threshold.

How Boone County Compares

With an average 2-bedroom rent of $788/month, Boone County ranks #92 most expensive of the 94 cities tracked in Iowa — more affordable than 97% of all US cities in our data.

The Boone County Rental Market

The Boone County, IA area has a population of about 26,669 and 19% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Boone County, IA have fallen by $112/month (12.4%) over the past year, from $900 to $788. This rate of decrease is significant and reflects softening demand or increased inventory in the local market.

Affordability

To afford a 1-bedroom apartment in Boone County, IA without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $25,040. The local median household income of $79,741 exceeds that threshold by $54,701, making Boone County relatively accessible compared to local wages.

Economy & Jobs

Boone County, IA has an unemployment rate of 2.9%, 1.0 percentage point below the national average of 3.9%. Strong employment conditions typically sustain rental demand, as workers relocate to the area and local residents maintain stable housing.

Is Boone County, IA Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Boone County?

Break-even analysis and mortgage estimates based on local market data.

Living in Boone County

Cost of living, job market, crime rates, and moving cost estimates.