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City · 20,032 residents · Watauga County, North Carolina

Boone , North Carolina

In Boone, a typical home is worth $411,100 and typical rent is $1,111 a month. Compared with all of Watauga County, typical household income is 42% lower, the typical home value is 15% higher, and the share of households that own their home is 36 points lower.

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  • Typical home value

    $411,100

    15% above the county

    42% above North Carolina

    • Boone
    • Watauga
    • North Carolina

  • Typical rent

    $1,111a month

    About the same as the county

    10% below North Carolina

    • Boone
    • Watauga
    • North Carolina

  • Typical household income

    $30,065a year

    42% below the county

    58% below North Carolina

    • Boone
    • Watauga
    • North Carolina

  • Households that own their home

    26%

    36 points below the county

    40 points below North Carolina

    • Boone
    • Watauga
    • North Carolina

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$483,803
1% more than 12 months ago
Typical rent
$2,259 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Boone is in Watauga County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Watauga County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Boone apart

What this place has that others do not, from public data, most unusual first.

  1. Boone has the lowest typical household income of the 165 cities in North Carolina with more than 5,000 people: $30,065.

  2. 26% of households in Boone own their home, against 62% in Watauga County.

  3. Boone has the 3rd largest share of rent-burdened renters of the 136 cities in North Carolina with more than 5,000 people (79%).

  4. Nearby, in Long View, the typical home value is $157,300: 62% less than in Boone ($411,100).

  5. Nearby, in Lenoir, the typical rent is $664: 40% less than in Boone ($1,111).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Boone

What homes there are in Boone, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Many people here live in apartments: 6 in 10 homes; in Watauga County, 2.

Year built

The typical year built in Boone is 1985, about the same as in Watauga County (1988).

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,641 a month

Watauga County: $1,668 a month

Without a mortgage

$650 a month

Watauga County: $449 a month

Owners with a mortgage

54%

Watauga County: 51%

Owning costs about the same in Boone as in Watauga County: with a mortgage, $1,641 a month; without one, $650.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Much as in Watauga County, the typical home value in Boone rose 53% since 2015–2019.

Rents in Boone rose more slowly than in Watauga County: 23% since 2015–2019, against 30%.

The typical household income in Boone rose 34% over that time; home values changed +53% and rent +23%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureBooneWatauga CountyNorth CarolinaUnited States
Rental vacancy Unreliable estimateUnreliable estimate7.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate1.3%0.9%
More than one person per room Unreliable estimateUnreliable estimate2.2%3.4%
People per household 2.302.292.442.53
Drive alone 64%73%72%69%
Carpool 8%10%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike 13%5%2%3%
Work from home 10%10%16%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

A household in Boone has 2.30 people on average, about the same as in Watauga County (2.29).

Many here get to work on foot or by bike: 13%, more than in Watauga County (5%).

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Boone?

A typical home costs more than the typical income allows

We start with a typical home in Boone, worth $411,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 131% of the typical household income in Boone, which is $30,065 a year. For that payment to be 28% of income, a household would need to earn about $140,401 a year.

The calculator's FHA and conventional loan limits are those of all of Watauga County.

Your numbers

Local data
$

Starts at the typical home value in Boone. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $14,389 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,276

at 7.18% · 30 years

Loan amount
$403,653
Total interest
$580,763
Paid off in
November 2056

Includes $6,942 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $702 a month

  • Tight

    $702 to $902 a month

  • Hard

    more than $902 a month

    Your payment · 131%

Compared with the typical household income in Boone ($30,065 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,276
Principal & interest$2,734
Property tax$188
Home insurance$171
FHA mortgage insurance (MIP)$182

You need at least $14,389 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Boone and Watauga County

Boone is in Watauga County, North Carolina. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Boone's own numbers

Typical home value
$411,100
Typical monthly rent
$1,111
Typical yearly household income
$30,065
Households that own their home
26%
Effective property tax rate
0.55%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Watauga County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,311
Price change over 5 years (FHFA)
+80%
Homes in a high flood-risk zone
2.7%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Watauga County.

Everything about Watauga County

Buying

Buying a home in Boone

A typical home in Boone is worth $411,100: 15% above the county and 42% above North Carolina. With the typical household income in Boone ($30,065 a year), a typical home costs 13.7 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Boone 13.7 years
  • Watauga 6.9 years
  • North Carolina 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Watauga County

According to FHFA’s house price index, home prices in Watauga County rose 121% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Watauga County.

Period County North Carolina U.S.
Last year (2025) +3.0% +2.5% +2.9%
5 years (2020–2025) +80% +60% +47%
10 years (2015–2025) +121% +107% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Boone next to Watauga County, North Carolina and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Boone $411,100
  • Watauga $358,900
  • North Carolina $288,900
  • United States $332,700
Typical monthly rent
  • Boone $1,111
  • Watauga $1,127
  • North Carolina $1,228
  • United States $1,413
Typical yearly household income
  • Boone $30,065
  • Watauga $51,693
  • North Carolina $72,388
  • United States $80,734
See the full table
Boone next to Watauga County and North Carolina
Measure Boone Watauga County North Carolina U.S.
Typical home value $411,100 $358,900 $288,900 $332,700
Typical monthly rent $1,111 $1,127 $1,228 $1,413
Typical yearly household income $30,065 $51,693 $72,388 $80,734
Households that own their home 26% 62% 67% 65%
Typical yearly property tax $2,272 $1,386 $1,896 $3,119
Effective property tax rate 0.55% 0.39% 0.66% 0.94%
Renters with high rent for their income 79% 66% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Watauga County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Boone

For a typical $411,100 home in Boone, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Boone's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,276a month

    Least cash to close
    Down payment
    $14,389
    Cash to close
    $26,722
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $182

  • Conventional, 5% down $3,201a month

    Down payment
    $20,555
    Cash to close
    $32,888
    Rate
    7.18%
    Mortgage insurance
    PMI · $195

  • Conventional, 20% down, no PMI $2,588a month

    Down payment
    $82,220
    Cash to close
    $94,553
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,968a month

    Down payment
    $61,665
    Cash to close
    $73,998
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Boone and for Watauga County.

Property tax

Effective rate in Boone

0.55%of the home’s value each year

$2,272 a year for the typical owner in Boone.

  • Boone 0.55%
  • Watauga 0.39%
  • North Carolina 0.66%

What North Carolina publishes Elderly or Disabled Homestead Exclusion (North Carolina General Assembly (statute))

Exemptions and deadlines in North Carolina

Flood risk in Watauga County

FEMA does not publish these numbers by city: they are for all of Watauga County.

Homes in the high-risk zone
2.7%
673
Of those, with NFIP insurance
44%
County North Carolina U.S.
Homes in the high-risk zone 2.7% 2.8% 3.5%
Of those, with NFIP insurance 44% 53% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Boone

Typical rent in Boone is $1,111 a month: about the same as the county. In Boone, 79% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Watauga County, by unit size. To pay the 2-bedroom one ($1,311 a month) without spending more than 30% of your income, you would need to earn $25.21 an hour working full time.

HUD fair market rent for all of Watauga County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $916 $17.62 $36,640
1 bedroom $1,124 $21.62 $44,960
2 bedrooms $1,311 $25.21 $52,440
3 bedrooms $1,737 $33.40 $69,480
4 bedrooms $2,191 $42.13 $87,640

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Boone

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Boone is in ZIP code 28607.

For 2 bedrooms it is $1,340: $29 more than the fair market rent for Watauga County ($1,311).

  • 28607 $1,340$1,780

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Boone when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Boone

HUD lists 6 buildings with rents for lower incomes in Boone. These are the largest.

  • Watauga Green Apartments 158 Herring Loop, Boone 28607 72 low-income homes · 2 bd: 52 · 3 bd: 20 · In service since 2015 · For families
  • White Laurel Brook Hollow Lane, Boone 28607 42 low-income homes · 2 bd: 22 · 3 bd: 16 · 4 bd: 4 · In service since 1999 · For families
  • Ivy Terrace Apts 206 Ivy Terrace Dr, Boone 28607 34 low-income homes · 1 bd: 34 · In service since 1996 · For older adults
  • Watauga Village Apts. 165 Robin Ln, Boone 28607 33 homes, 32 low-income · For older adults (828) 264-4804
  • CAC of Watauga Co. 200 Winklers Meadow Rd, Boone 28607 11 homes, 10 low-income · For people with disabilities (828) 262-3838

See all 7 buildings in Watauga County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Boone

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Watauga County. The nearest ones are below; many serve by phone or online.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Boone

No down payment, repair or rent-help program on our list is for Boone or Watauga County. The ones below are statewide in North Carolina: they work in Boone the same as in the rest of the state.

Which programs do I qualify for? All programs in North Carolina

  • NC Home Advantage Mortgage

    Statewide in North Carolina

    NCHFA fixed-rate mortgage with down payment assistance, for first-time buyers and for people who have owned a home before, in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Forgivable

    See the program Official page

  • NC 1st Home Advantage Down Payment

    Statewide in North Carolina

    A fixed amount of NCHFA down payment assistance for first-time buyers and veterans in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Type not stated

    See the program Official page

  • Community Partners Loan Pool (CPLP)

    Statewide in North Carolina

    NCHFA interest-free loan with deferred payments of up to 25% of the price (maximum $50,000) for the down payment of low- and moderate-income buyers in North Carolina; you apply through a member organization. Offered by North Carolina Housing Finance Agency (NCHFA).

    Deferred

    See the program Official page

Housing counselors near Boone

The HUD-approved agencies closest to the center of Boone, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Western Piedmont Council of Governments

    1880 2nd Ave NW, Hickory · 37 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 3 more
    (828) 322-9191

  • Cleveland County Community Development Corporation

    823 W Warren St, Shelby · 64 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 11 more
    (704) 480-7701

  • The Safeguard Group - Housing & Debt Advisors

    240 N Main St, Mooresville · 65 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 5 more
    800-673-6993-146

All counseling agencies in North Carolina

Help in Spanish near Boone

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Boone

In HUD’s record, no housing authority with an office in Watauga County is named for Boone or Watauga County.

One other authority has an office in Watauga County: see the list Source: HUD

Cities

Nearby cities

The cities closest to Boone, with the typical home value.

Everything about Watauga County Housing in North Carolina

Neighboring counties

If Watauga County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Boone.

All guides
Three generations of a family gather on the porch of their home.

Questions

Housing questions about Boone

Short answers with the numbers for Boone and all of Watauga County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Boone?

The typical home value in Boone is $411,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Watauga County it is $358,900.

How much does it cost to rent in Boone?

Typical rent in Boone is $1,111 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Watauga County is $1,311.

What is the FHA loan limit in Boone?

Boone uses the FHA limit for all of Watauga County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Boone?

The typical homeowner in Boone pays $2,272 a year, according to the U.S. Census Bureau. That is 0.55% of the home’s value; in Watauga County, the rate is 0.39%.

Where can I find free help to buy or rent in Boone?

We found no HUD-approved counseling agencies with an office in Watauga County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).