Is Boone County, IN good for real estate investing?

Boone County has an investment score of 63/100, rated as "Buy". The county ranks #254 nationally among 1000 counties analyzed.

What is the rent-to-price ratio in Boone?

The rent-to-price ratio in Boone County is 5.34% annually, which ranks in the 35th percentile nationally. Higher ratios indicate better cash flow potential.

What is the median home price in Boone?

The median home price in Boone County is $406,496. This ranks #843 in affordability among all US counties.

Can you cash flow on rental properties in Boone?

Based on median values with 20% down at current rates, a typical rental in Boone County would generate negative cash flow of $954/month. Individual property performance varies based on purchase price, rent, and operating expenses.

Boone County

IndianaPopulation: 71,235Indianapolis, IN Metro

/100

Buy

#254 of 1,000 counties

#68 in Indiana (92 counties)

Market Snapshot

$406,496

Median Home Price

74% above national median

$1,810/mo

Median Rent

20% above national median

5.34%

Rent-to-Price Ratio

Top 65% nationally

-$954

Est. Monthly Cash Flow

With 20% down at 6.9% rate

Price History

Historical data from Zillow ZHVI/ZORI

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$406,496

Down Payment (20%)$81,299

Loan Amount$325,197

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,810

Monthly P&I-$2,131

Est. Expenses (35%)-$633

Net Cash Flow-$954/mo

3.5%

Cap Rate (all cash)

-12.2%

Cash-on-Cash Return

5.34%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 3.5% 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 Analysis Try House Hack Strategy

Score Breakdown

Overall Investment Score

63/100

Cash Flow(30%)

50/100

Based on 5.34% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

85/100

Based on 4.7% 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 3.9x. 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 (5.34%)
-Negative cash flow at typical financing (-$954/mo)
-Negative leverage (cap rate 3.5% < mortgage rate 6.9%)

Economic Indicators

Population

71,235

Median Income

$103,038

vs $57,018 national est.

Unemployment Rate

—

Data pending

Price-to-Income

3.9x

Moderately affordable

Compare to Nearby Counties

County					Verdict
MontgomeryIN	64	$213,484	$975	5.48%	Buy	View
HancockIN	64	$321,689	$1,678	6.26%	Buy	View
CurrentBooneIN	63	$406,496	$1,810	5.34%	Buy
FloydIN	63	$277,337	$1,243	5.38%	Buy	View
AllenIN	63	$244,080	$1,163	5.72%	Buy	View
JohnsonIN	63	$305,370	$1,625	6.39%	Buy	View

The Bottom Line

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

Boone County in Indiana scores 63/100, ranking #254 of 1,000 US counties (top 34%). The 5.34% 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

$-954/mo

Cap Rate

3.5%

Cash-on-Cash

-12.2%

Ready to Analyze a Deal in Boone?

Use our investment calculators to run detailed numbers on specific properties.

Single Family1-4 unit rentals, BRRRR House HackOwner-occupied strategy Multifamily5+ unit properties

Explore Other Markets

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$406,496

Down Payment (20%)$81,299

Loan Amount$325,197

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,810

Monthly P&I-$2,131

Est. Expenses (35%)-$633

Net Cash Flow-$954/mo

3.5%

Cap Rate (all cash)

-12.2%

Cash-on-Cash Return

5.34%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 3.5% 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 Analysis Try House Hack Strategy

Score Breakdown

Overall Investment Score

63/100

Cash Flow(30%)

50/100

Based on 5.34% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

85/100

Based on 4.7% 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 3.9x. Lower ratios indicate more affordable markets.

County

Verdict

MontgomeryIN

$213,484

$975

5.48%

Buy

View

HancockIN

$321,689

$1,678

6.26%

Buy

View

CurrentBooneIN

$406,496

$1,810

5.34%

Buy

FloydIN

$277,337

$1,243

5.38%

Buy

View

AllenIN

$244,080

$1,163

5.72%

Buy

View

JohnsonIN

$305,370

$1,625

6.39%

Buy

View

The Bottom Line

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

Monthly Cash Flow

$-954/mo

Cap Rate

3.5%

Cash-on-Cash

-12.2%