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Market MapIndianaBoone

Boone County

IndianaPopulation: 71,235
62
/100
Buy
#424 of 1,000 counties
#83 in Indiana (92 counties)

Market Snapshot

$408,148
Median Home Price
49% above national median
$1,777/mo
Median Rent
19% above national median
5.22%
Rent-to-Price Ratio
Top 70% nationally
-$985
Est. Monthly Cash Flow
With 20% down at 6.9% rate

Price History

Trend based on YoY growth rate. Source: Zillow ZHVI/ZORI

Quick Investment Calculator

20%
5%50%100%

Purchase

Purchase Price$408,148
Down Payment (20%)$81,630
Loan Amount$326,518
Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,777
Monthly P&I-$2,140
Est. Expenses (35%)-$622
Net Cash Flow-$985/mo
3.4%
Cap Rate (all cash)
-12.6%
Cash-on-Cash Return
5.22%
Rent-to-Price Ratio
Negative leverage: At 6.85% rates, borrowing costs exceed the 3.4% cap rate. All-cash buyers may see better returns.

* Based on county median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Actual results vary by property.

Run Full AnalysisTry House Hack Strategy

Score Breakdown

Overall Investment Score
62/100
62
Cash Flow(30%)
48/100

Based on 5.22% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)
84/100

Based on 4.3% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)
50/100

Population data not available.

Affordability(20%)
71/100

Price-to-income ratio of 4.0x. Lower ratios indicate more affordable markets.

Scores are calculated using real Zillow home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. Markets with missing rent data use estimated values based on regional averages.

Investment Outlook

Strengths

  • +Affordable relative to local incomes
  • +Complete rent data available

Challenges

  • -Below-average rent-to-price ratio (5.22%)
  • -Negative cash flow at typical financing (-$985/mo)
  • -Negative leverage (cap rate 3.4% < mortgage rate 6.9%)

Economic Indicators

Population
71,235
Median Income
$103,038
vs $62,400 national est.
Unemployment Rate
—
Data pending
Price-to-Income
4.0x
Moderately affordable

Compare to Nearby Counties

CountyVerdict
AllenIN
63$244,080$1,1635.72%BuyView
JohnsonIN
63$305,370$1,6256.39%BuyView
FloydIN
63$277,337$1,2435.38%BuyView
CurrentBooneIN
62$408,148$1,7775.22%Buy
SteubenIN
62$302,895$1,4255.65%BuyView
TippecanoeIN
61$288,669$1,5266.35%BuyView

The Bottom Line

BuyBoone offers solid investment potential with good cash flow or appreciation prospects.

Boone County in Indiana scores 62/100, ranking #424 of 1,000 US counties (top 42%). The 5.22% rent-to-price ratio may require creative strategies or below-market purchases for positive cash flow. Current market conditions make traditional buy-and-hold investing challenging. Consider house hacking, value-add strategies, or all-cash purchases.

Monthly Cash Flow
$-985/mo
Cap Rate
3.4%
Cash-on-Cash
-12.6%

Ready to Analyze a Deal in Boone?

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