Boone County Real Estate and Livability Trends
Boone County, Indiana's real estate landscape is notably dynamic, as the median home values surged from $187,600 in 2015 to $320,000 in 2022, outstripping state and national averages. This rapid appreciation coupled with increased residential energy tax credits signals a robust local market and growing investment in energy efficiency. Doubling real estate taxes from $3,291.53 in 2012 to $6,956.67... Read more
Boone County Market Trends
Median home values in Boone County, Indiana, skyrocketed from $187,600 in 2015 to $320,000 in 2022, significantly outpacing state and national averages. This sharp increase points to a robust local housing market, hinting at strong demand and economic growth. Additionally, the county saw an average residential energy tax credit spike to $3233.33 in 2018, suggesting heightened investment in energy... Read more
Median Value of Occupied Housing Units in Boone County, Indiana Over the Last 8 Years
Median home values in Boone County, Indiana, have seen a significant upward trend over the last eight years, soaring from $187,600 in 2015 to $320,000 in 2022. This outpaces both the state and national averages, where Indiana's median home values increased from $124,200 to $183,600 and the national figures rose from $125,500 to $179,400 over the same period. The steep climb in Boone County suggests a strong local housing market, potentially indicating robust demand, economic growth, and a competitive real estate environment. For investors and prospective homeowners, this could mean a promising appreciation potential but also higher entry points for buying property.
Residential Energy Tax Credit Per Tax Return in Boone County, IN Over the Last 9 Years
Boone County, Indiana has seen significant fluctuations in the average residential energy tax credit per tax return over the past nine years. The most notable spike occurred in 2018, reaching a peak of $3233.33, which suggests a potential surge in energy-efficient investments or government incentives during that year. Other years such as 2016 and 2021 also saw relatively high averages at $790.70 and $1121.31 respectively, indicating ongoing interest in energy efficiency. These trends might indicate a developing market for energy-efficient home improvements, offering opportunities for investors, real estate agents, and builders focusing on sustainable projects. Potential homeowners and appraisers might also find this useful when considering the long-term value associated with energy-efficient properties.
Average Real Estate Taxes Per Tax Return in Boone County, IN Over the Last 10 Years
Boone County, Indiana, has seen a steady increase in average real estate taxes per tax return over the past decade, nearly doubling from $3,291.53 in 2012 to $6,956.67 in 2021. This trend may suggest a rising demand for housing and real estate investment in the area, potentially correlating with property value appreciation and economic growth. However, such climbs in tax obligations could also impact homeowner affordability and should be considered by potential investors and residents. Real estate agents, appraisers, and insurance agents might find these patterns significant when evaluating property values and market dynamics in Boone County.
Percentage of Farm Returns in Boone County, IN Over the Last 10 Years
In Boone County, Indiana, farm tax returns have seen a general decline over the past decade, dropping from approximately 1.90% in 2012 to around 1.31% in 2021. This trend might suggest a shrinking number of active farming operations or possible changes in land use and demographics. For those considering investment in rural property or agricultural ventures in the area, understanding these shifts could be crucial in predicting future market conditions and opportunities.
Number of Mortgages by Occupancy Type in Boone County, IN Over the Last 5 Years in Boone County
Over the past five years in Boone County, Indiana, there’s been a noticeable shift in mortgage counts across different occupancy types. Mortgages for principal residences have fluctuated, peaking at 8,672 in 2020, then dropping to 4,857 in 2022. Investment properties saw a steady increase from 113 in 2018 to 258 in 2021, before a slight dip in 2022. Second residence mortgages have remained relatively low, consistently under 60. These trends might indicate changing priorities among homebuyers and investors. The significant rise and subsequent decline in principal residence mortgages could suggest economic factors or shifts in residential appeal. The interest in investment properties, despite some variability, signals potential profitability, making Boone County an interesting option for real estate investors. Low numbers in second residences point toward a limited market for vacation or secondary homes, likely influencing how appraisers and insurance agents assess risks and values in the area. For real estate agents and developers, this shift underscores the importance of catering to the more prominent markets of principal residences and investment properties to maximize opportunities.
Economic Outlook
Boone County, Indiana has experienced a steady rise in average taxable income per tax return, jumping from $92,986.79 in 2013 to $142,129.76 in 2021, likely hinting at a thriving economic climate. Concurrently, state and local income taxes per return surged from $8,285.24 in 2012 to $20,128.71 in 2021, particularly between 2016 and 2018, which could indicate economic growth or tax policy shifts. The average total tax liability per return also saw notable increases, especially from 2020 to 2021,... Read more
Average Taxable Income per Tax Return in Boone County, IN over the last 9 years
Boone County, Indiana has seen a steady increase in average taxable income per tax return over the past nine years, climbing from $92,986.79 in 2013 to $142,129.76 in 2021. This notable growth could suggest a prosperous economic climate, potentially making the area attractive for investors, property developers, and those looking to move in. Enhanced economic opportunities and rising incomes may indicate a buoyant local economy, which could positively impact property values and community amenities.
Average State and Local Income Taxes Per Tax Return in Boone County, IN Over the Last 10 Years
Over the past decade, Boone County, Indiana, has experienced a significant increase in state and local income taxes per tax return, jumping from $8,285.24 in 2012 to $20,128.71 in 2021. Notable spikes occurred from 2016 to 2018, indicating substantial fiscal changes that could interest prospective investors, residents, or developers in the area. This trend may reflect economic growth, changes in tax policies, or an increase in average incomes, making Boone County a dynamic location with evolving financial landscapes.
Average Total Tax Liability Per Tax Return in Boone County, IN Over the Last 10 Years
Boone County, Indiana has seen some notable shifts in average total tax liability per tax return over the past decade. Between 2012 and 2021, the liability has generally trended upward, with a striking jump seen between 2020 and 2021, from $25,447.38 to $30,508.88. The fluctuations suggest varying economic conditions, potentially driven by changes in incomes and property values, which could be appealing for investors and prospective residents looking to understand the fiscal landscape of the area.
Cost of Living in Boone County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,552 | $1,452 | $1,807 | $1,905 | $1,570 |
| 1 adult 4 children | $1,552 | $1,186 | $1,390 | $1,905 | $1,686 |
| 2 adults 3 children | $1,552 | $1,186 | $1,564 | $1,905 | $1,318 |
| 1 adult 3 children | $1,552 | $968 | $1,147 | $1,905 | $1,454 |
| 2 adults 2 children | $1,183 | $971 | $1,321 | $1,676 | $1,062 |
| 1 adult 2 children | $1,183 | $725 | $904 | $1,676 | $1,100 |
| 2 adults 1 child | $1,183 | $767 | $1,078 | $934 | $946 |
| 1 adult 1 child | $1,183 | $496 | $661 | $934 | $833 |
| 2 adults | $997 | $616 | $835 | $0 | $737 |
| 1 adult | $857 | $336 | $418 | $0 | $584 |
Safety trends & Data
Boone County, Indiana has seen fluctuating property crime rates over the past five years, with larceny-theft peaking at 20 instances in 2022. Motor vehicle theft showed notable variability, hitting its highest at 7 incidents in both 2018 and 2022. Fraud cases also exhibited peaks, spiking to 11 incidents in 2019. These trends may suggest underlying economic and social dynamics that could influence property values and insurance premiums, an important factor for potential investors and real... Read more
Property Crime Trends in Boone County, IN Over the Last 5 Years
Boone County, Indiana has experienced fluctuating property crime rates over the past five years. Notably, larceny-theft consistently remains the predominant issue, peaking at 20 instances in 2022. Motor vehicle theft saw significant variability, reaching its highest at 7 incidents in both 2018 and 2022. Meanwhile, fraud cases also exhibited peaks, notably spiking to 11 incidents in 2019. For potential investors and real estate professionals, these trends hint at underlying economic and social dynamics that could influence property values and insurance premiums in the area.
Demographics
Boone County, Indiana reveals a nicely balanced gender distribution with a slight female majority. Education-wise, there's a strong emphasis on higher education, as the residents typically attain a Bachelor's degree or higher. Age distribution is quite spread out but tends to skew towards younger and middle-aged adults. When it comes to racial demographics, the county is predominantly White, with relatively smaller representations from African American, Asian, and other racial groups. These... Read more
Race Distribution in Boone County, Indiana (2022)
Educational Attainment in Boone County, Indiana (2022)
Age Distribution in Boone County, Indiana
Citizen Population in Boone County, Indiana (2022)
Political Trends & Data
Boone County, Indiana, tends to lean Republican as evidenced by about 58% of the votes going to the GOP in the 2020 Presidential Election. Democrats pulled in nearly 40%, which suggests a notable, if not commanding, opposition. Minor parties like the Libertarians and Greens barely registered, indicating they have little sway here. This local voting behavior could mirror broader trends seen statewide, offering a window into the electorate's... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Boone County, Indiana, appears to lean Republican with approximately 58% of votes in the 2020 Presidential Election. Democrats garnered close to 40%, indicating a solid, though not dominant, opposition presence. Minor parties, including the Libertarians and Greens, captured a negligible fraction of the vote, suggesting limited influence. This voting pattern may reflect broader state-level political trends and provides insight into the local electorate's preferences.
58.02% of voters voted for the Republican party in the 2020 Presidential Election
39.57% of voters voted for the Democrat party in the 2020 Presidential Election
2.35% of voters voted for the Livertarian party in the 2020 Presidential Election
0.02% of voters voted for the Green party in the 2020 Presidential Election
0.03% of voters voted for the Other party in the 2020 Presidential Election
School Data
Boone County, Indiana has seen a decline in its student-to-teacher ratio from 18 students per teacher in 2014 to around 16 by 2023. This change suggests potentially more personalized attention for students, appealing to families considering relocation. Real estate professionals can leverage this trend to highlight the county's improving educational landscape, influencing home-buying decisions. Investors and builders might view these figures as favorable, anticipating that a strong education... Read more
Student-to-teacher ratio in Boone County, Indiana over the last 10 years
Boone County, Indiana has seen a gradual decline in its student-to-teacher ratio over the past decade, starting from 18 students per teacher in 2014 and dropping to around 16 students per teacher by 2023. This decrease might be appealing for families considering relocation, as it suggests potentially more personalized attention for students in comparison to the national average of 14 students per teacher. For real estate agents, this trend could be leveraged to highlight the county's improving educational environment, a factor known to influence home-buying decisions. Similarly, appraisers and insurance agents may find this indicator useful when assessing property values or calculating premiums, given that lower student-to-teacher ratios are often aligned with higher community desirability. Investors and builders might also see these figures as favorable for developing new housing projects, anticipating that a robust education system could draw more residents to the area.
