1st Advantage MortgageBoone County households have a median income of $83,531 and median rent of $845 a month (ACS 2020 to 2024). County medians do not set your terms. Shop at least three lenders, including a credit union serving Boone County, and confirm each one's Iowa license.
On this page
- Getting oriented in Boone County
- Labor force snapshot: Boone County
- Income in Boone County compared with Iowa
- What stands out in Boone County
- Boone County housing compared with Iowa
- Boone County communities by population
- Regional comparison for Boone County
- Who lives in Boone County, in numbers
- Reading the Boone County data as a borrower
- Room for a loan payment in Boone County
- Checklist for Boone County applicants
- Lender oversight for Boone County
- Related local guides
- Frequently asked questions
Getting oriented in Boone County
Boone County is home to about 26,668 people, according to the Census Bureau's 2020 to 2024 American Community Survey, which makes it the 23rd most populous of 99 county-level areas in Iowa. Its 570 square miles average 47 people per square mile, by the 2024 Census Gazetteer. The federal metro definitions (OMB, July 2023) place it in the Ames, IA metropolitan area. Largest place: Boone, about 12,424 residents (47% of Boone County); 10 Census places in all.
Labor force snapshot: Boone County
The biggest employer of Boone County residents, by industry, is education and health care at 28% of workers, followed by retail trade (12%). Compared with Iowa, the county leans toward education and health care (28% against 24%). Unemployment in Boone County, ACS five-year: 1.5%; Iowa: 3.6%. Long commutes are the exception here: 13% of workers spend 45 minutes or longer getting to work.
| Top industries | Boone County share | +/- vs Iowa |
|---|---|---|
| Education and health care | 28.4% | +4.2 pts |
| Retail trade | 11.7% | +0.2 pts |
| Manufacturing | 11.2% | -3.5 pts |
| Construction | 10.4% | +3.5 pts |
| Professional and administrative services | 6.4% | -1.2 pts |
| Finance, insurance and real estate | 5.6% | -2.0 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Income in Boone County compared with Iowa
Half of Boone County households take in less than $83,531 a year and half take in more, 11% above the Iowa median of $75,059. That places it 10th among Iowa's 99 county-level areas.
| Income band | Share in Boone County | Difference from Iowa |
|---|---|---|
| Under $35,000 | 17.9% | -3.2 pts |
| $35,000 to $99,999 | 41.0% | -1.8 pts |
| $100,000 to $199,999 | 33.5% | +6.0 pts |
| $200,000 or more | 7.6% | -1.0 pts |
On the low end, 18% of Boone County households report under $35,000; at the top, 41% report $100,000-plus. Poverty rate, Boone County: 6.2%; Iowa: 11.1%. The Gini index of income inequality is 0.400 (0 is perfect equality). If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Boone County median.
What stands out in Boone County
Where Boone County lands at the extremes of Iowa's county rankings:
- Boone County ranks 3rd lowest of 99 Iowa counties for the poverty rate: 6.2%, against 11.1% statewide. A low poverty rate does not mean every budget has room; test the payment.
- On the ACS unemployment rate, Boone County sits near the bottom of Iowa at 1.5%, 7th lowest of 99. A tight job market helps steady income, but lenders still verify it.
- Few Iowa counties match Boone County on the share of households earning $100,000 or more: 41% here, 36% for the state, ranking 8th highest of 99. High earners still overpay when they skip comparing offers.
Boone County housing compared with Iowa
$845 a month is the median gross rent in Boone County, 13% below the state. By the Census definition, 38% of Boone County renters are cost-burdened. With a median value of $212,400, a typical Boone County house costs 2.5 times what the median household earns in a year. The ownership rate is 80%. Half the housing stock was built before 1960.
| Cost | Boone County | Iowa figure | Higher or lower |
|---|---|---|---|
| Owners | 80% | 72% | +8.3 pts |
| Rent-burdened renters | 38% | 44% | -6.3 pts |
| Median gross rent | $845/mo | $972/mo | 13% lower |
| Burdened owners | 21% | 20% | +0.9 pts |
| Median home value | $212,400 | $208,000 | 2% higher |
Owners with equity have a second option. Weigh a secured line against an unsecured loan by risk as well as cost before you choose (how they compare).
Boone County communities by population
The table lists the 10 largest of 10 Census places in Boone County, by population. Together all 10 hold about 18,731 people, so roughly 30% of residents live outside any named place. Among places of 500 or more people, median income runs from $65,658 in Woodward to $89,844 in Madrid. Median rent ranges from $733 in Ogden to $1,029 in Madrid. Live in one of these Boone County communities, or between them? This is your local guide.
| Town or CDP | Type | People | Median household income | Median gross rent | Miles from center |
|---|---|---|---|---|---|
| Boone | city | 12,424 | $69,222 | $831 | 3 mi |
| Madrid | city | 2,808 | $89,844 | $1,029 | 13 mi |
| Ogden | city | 1,859 | $70,268 | $733 | 5 mi |
| Woodward | city | 977 | $65,658 | n/a | 13 mi |
| Boxholm | city | 168 | $49,375 | $556 | 13 mi |
| Luther | city | 159 | $100,938 | n/a | 8 mi |
| Fraser | city | 148 | $69,063 | n/a | 6 mi |
| Pilot Mound | city | 132 | $58,750 | n/a | 9 mi |
| Beaver | city | 51 | $73,750 | n/a | 10 mi |
| Berkley | city | 5 | n/a | n/a | 11 mi |
Regional comparison for Boone County
Nearest neighbors first, measured between county centers (23 to 31 miles). Richest neighbor: Dallas County, $102,379. Poorest: Greene County, $63,409. Boone County: $83,531.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Boone County | - | $83,531 | $845/mo | 80% |
| Greene County, IA | 23 mi | $63,409 | $781/mo | 76% |
| Story County, IA | 24 mi | $69,685 | $1,018/mo | 56% |
| Dallas County, IA | 25 mi | $102,379 | $1,311/mo | 69% |
| Hamilton County, IA | 27 mi | $72,432 | $877/mo | 73% |
| Webster County, IA | 30 mi | $68,975 | $785/mo | 70% |
| Polk County, IA | 31 mi | $83,576 | $1,149/mo | 67% |
Who lives in Boone County, in numbers
In Boone County, 28% of adults have at least a four-year degree (31% in Iowa). Uninsured, Boone County: 3.3%; Iowa: 5.0%.
| People and households | Boone County | Compared with Iowa | Compared with median county |
|---|---|---|---|
| Poverty rate | 6.2% | -4.9 pts | -7.0 pts |
| Median age | 42.4 | +3.8 yrs | +0.9 yrs |
| Bachelor's or higher | 28.5% | -2.9 pts | +6.3 pts |
| Unemployment (ACS) | 1.5% | -2.1 pts | -2.9 pts |
| No high school diploma | 4.9% | -1.8 pts | n/a |
| No health insurance | 3.3% | -1.7 pts | -4.5 pts |
| Work from home | 10.1% | -1.2 pts | +1.4 pts |
| No vehicle | 5.5% | 0.0 pts | 0.0 pts |
| Travel time to work | Workers |
|---|---|
| Under 15 min | 36.9% |
| 15 to 29 min | 31.7% |
| 30 to 44 min | 18.6% |
| 45 to 59 min | 8.5% |
| 60+ min | 4.3% |
Reading the Boone County data as a borrower
The county's numbers point to a few situations that come up often for Boone County borrowers.
- Consolidation math. With 41% at six figures, card consolidation is common; it pays only if total cost falls (guide).
- Fraud. Gift cards, wire transfers or fees to unlock a loan mean walk away (report it).
- Combining balances. It helps when total cost falls and the cards stay paid down (consolidation).
Room for a loan payment in Boone County
How much room does a median Boone County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- Median income divided by twelve: $6,961 before taxes
- Less median rent of $845, which is 12% of it
- $1,591: what a 35% ratio leaves once rent is paid
- Under a 45% cap, $3,132 total minus rent leaves $2,287
Lenders set their own limits and look beyond the ratio. The DTI calculator uses your figures instead of Boone County's.
Checklist for Boone County applicants
Four checks before you sign anything:
- Get a written quote for whatever you are paying for in Boone County.
- Line up offers side by side: APR, fees in dollars, total cost.
- A Iowa license check takes minutes; do it first.
- Lock paid-off cards after consolidating so balances stay at zero.
Lender oversight for Boone County
Licensing happens at the state level, so a lender working with Boone County borrowers answers to the Iowa Division of Banking. If a Boone County lender ignores a dispute, the CFPB complaint portal is the federal backstop. State-level detail for Boone County borrowers is in the Iowa guide.
Related local guides
No city in Boone County has its own guide yet; the state page is next up.
Frequently asked questions
What does a typical Boone County household make?
About $83,531 a year at the median (ACS 2020-24), 11% above the Iowa median.
Is Boone County expensive for renters?
Median rent is $845 against $972 statewide, and 38% of renter households are cost-burdened.
How many towns are in Boone County?
The Census Bureau counts 10 places mainly in the county, led by Boone, Madrid, Ogden, Woodward, Boxholm.
Does my county matter to the questionnaire?
Only your state does. Whether you live in Boone County or elsewhere in Iowa, the same rules apply.
Where can someone in Boone County check a lender's license?
With the Iowa Division of Banking. If a lender is unlicensed or asks for a fee before funding, walk away.