Boone County, Illinois: commercial real estate data.
Boone County, Illinois has a population of 53,230 across 281 square miles, down 0.3 percent since the 2020 census base. County output reached $1.97 bn in 2024, 890 establishments operate here, and the SBA record carries 37 7(a) approvals worth $16.8 m.
125 sourced county values · tier FULL · 12 sections
Boone County
How many people live in Boone County
- Population53,230
- Households19,460
- Average household size2.74
- Median household income$84,571
- Median age39.7
- Median gross rent$1,041 per month
- Median owner-occupied home value$216,900
- Home value to household income2.6 times
- Annual rent as a share of median income14.8 percent
- Adults 25 and over with a bachelor degree or higher23.6 percent
- Adults 25 and over with a graduate degree9.4 percent
- Adults 25 and over35,680
- Population under 1812,650
- Share under 1823.8 percent
- Population 65 and over8,916
- Share 65 and over16.7 percent
- Working age population, 18 to 6431,664
- Civilian labor force27,925
- Unemployment rate7.4 percent
- Labor force participation, adults 18 and over68.8 percent
- Rank by population among Illinois counties25th of 102
- Rank by population among US county-equivalents972nd
Boone County is the 25th largest of 102 Illinois counties by population. A median home costs 2.6 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 23.8 percent against 16.7 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Boone County
Is Boone County growing
- Population change since the 2020 census base-0.25 percent
- Census 2020 base population53,446
- Births, 2024525
- Deaths, 2024438
- Natural change, 202487
- Net domestic migration, 2024-53
- Net international migration, 202443
- Total net migration, 2024-10
- Cumulative net domestic migration, 2021 to 2024-216
- Rank by growth among US county-equivalents1939th
The county has lost 0.25 percent of its population since the 2020 census base. Births exceeded deaths in 2024 but more people left than arrived, so the population is being sustained internally rather than attracting.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Boone County
Where people moving to Boone County come from
- Tax returns filed by households arriving1,611
- People arriving, from those returns3,095
- Adjusted gross income arriving$107.8 m
- Net adjusted gross income movement$0
- Average income of an arriving household$66,927
- Largest single originBoone County Non-migrants (20,376 households)
- Largest single destination (20,376 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Boone County Non-migrants | 20,376 | 43,217 | $1.78 bn |
| Winnebago County | 505 | 969 | $36.6 m |
| Other flows - Different State | 293 | 540 | $24.9 m |
| McHenry County | 208 | 411 | $11.2 m |
| Cook County | 193 | 398 | $11.1 m |
| Kane County | 151 | 300 | $7.1 m |
| Other flows - Midwest | 116 | 205 | $9.1 m |
| Other flows - South | 102 | 206 | $12.0 m |
The largest single source of arrivals is Boone County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Boone County
What the Boone County economy runs on
- County GDP, 2024$1.97 bn
- County GDP, 2023$1.87 bn
- GDP change, 2023 to 20245.4 percent
- GDP change over five years11.4 percent
- Rank by GDP among Illinois counties39th
- Rank by GDP among US county-equivalents1295th
- GDP per resident$37,102
Output grew 5.4 percent in the latest year and 11.4 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Boone County
Who employs people in Boone County
- Covered employment, annual average11,526
- Establishments reporting880
- Average annual pay$55,414
- Average weekly wage$1,066
- Sector 31-33, employment2,070
- Sector 31-33, average annual pay$78,475
- Sector 23, employment1,476
- Sector 23, average annual pay$75,196
- Sector 44-45, employment1,208
- Sector 44-45, average annual pay$37,366
- Sector 56, employment875
- Sector 56, average annual pay$34,449
- Sector 48-49, employment837
- Sector 72, employment764
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 2,070 | 60 | $78,475 |
| Sector 23 | 1,476 | 132 | $75,196 |
| Sector 44-45 | 1,208 | 82 | $37,366 |
| Sector 56 | 875 | 81 | $34,449 |
| Sector 48-49 | 837 | 84 | $52,155 |
| Sector 72 | 764 | 70 | $21,414 |
| Sector 62 | 604 | 57 | $46,308 |
| Sector 81 | 413 | 64 | $34,529 |
The largest sector is the biggest private employer group at 2,070 jobs, 18.0 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Boone County
What businesses operate in Boone County
- Establishments, all industries890
- Employment at those establishments15,427
- Annual payroll$1.03 bn
- Establishments per 1,000 residents16.7
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Boone County
What is being built in Boone County
- Housing units authorised by permit, 202452
- Declared construction value permitted$8.9 m
- Single family units authorised44
- Multifamily units authorised8
- Multifamily share of units15.4 percent
- Average declared value per unit$171,768
- Units authorised per 1,000 households2.7
Multifamily is 15.4 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Boone County
How much SBA lending happens in Boone County
- 7(a) approvals recorded37
- 7(a) gross approval dollars$16.8 m
- Average 7(a) approval$453,773
- Median 7(a) approval$250,000
- 10th percentile approval$25,000
- 90th percentile approval$1,361,000
- Largest single approval$2,227,000
- Jobs reported supported, 7(a)333
- Jobs per approval9.0
- Distinct 7(a) lenders active19
- Distinct industries receiving approvals20
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer21.6 percent
- Loans on real estate terms8
- Loans on working capital terms, 120 months or shorter28
- Franchise loans9
- Franchise share of approvals24.3 percent
- Leading industry by approval countLimited-Service Restaurants (6)
- Most active lenderThe Huntington National Bank (9)
- 504 approvals recorded8
- 504 gross approval dollars$2.8 m
- Average 504 approval$346,125
- Median 504 approval$333,000
- Distinct CDCs active1
- 504 jobs per approval10.4
- 504 jobs per million dollars approved30.0
- Most active CDCRockford Local Development Corporation (8)
- 7(a) share of SBA approvals82.2 percent
- Combined SBA approval dollars$19.6 m
The average approval of $453,773 sits well above the median of $250,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 21.6 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Boone County
Do SBA loans in Boone County get paid back
- Loans with a final outcome recorded7
- Paid in full5
- Charged off2
- Status: Paid in full5
- Status: Cancelled7
- Status: Exempt from disclosure19
- Status: Charged off2
- Status: Committed, not yet disbursed4
Too few loans have reached a final outcome to publish a charge off rate. only 7 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Boone County
Which parts of Boone County get the lending
- Places in the county with recorded lending4
- BELVIDERE, approvals30
- CHERRY VALLEY, approvals3
- Poplar Grove, approvals2
- Harvard, approvals2
| Place | Approvals | Gross approval dollars |
|---|---|---|
| BELVIDERE | 30 | $12,323,000 |
| CHERRY VALLEY | 3 | $2,857,000 |
| Poplar Grove | 2 | $1,443,600 |
| Harvard | 2 | $166,000 |
BELVIDERE accounts for 30 approvals against 3 in CHERRY VALLEY. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Boone County
How big is Boone County
- Land area281 sq mi
- Rank by land area among Illinois counties93rd of 102
- Width, east to west12 mi
- Height, north to south23.7 mi
- Geographies sharing a boundary3
- Residents per square mile of land189
- Establishments per square mile3.17
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Boone County
What hazards affect Boone County
- EPA radon zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
- Communities in the NFIP Community Status Book7
- Of those, participating in the NFIP6
- NFIP participation rate85.7 percent
- Communities carrying a CRS class0
The EPA places the county in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L.
US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001. FEMA OpenFEMA, NFIP Community Status Book, Community Status Book, as retrieved.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Boone County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Boone County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population53,230
- Households19,460
- Average household size2.74
- Median household income$84,571
- Median age39.7
Common questions
Boone County questions, answered from the record.
How many people live in Boone County, Illinois?
53,230, in 19,460 households, ranking 25th of 102 Illinois counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Boone County growing?
The population has fallen 0.25 percent since the 2020 census base. In 2024 there were 525 births against 438 deaths, with net migration of -10. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Boone County?
$84,571. The median owner-occupied home is valued at $216,900, which is 2.6 times income, and median gross rent is $1,041 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Boone County?
890 establishments, employing 15,427 people with an annual payroll of $1.03 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Boone County?
Average annual pay is $55,414, or $1,066 a week, across 11,526 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Boone County?
37 7(a) approvals totalling $16.8 m since FY2020, across 19 lenders, with a median approval of $250,000, plus 8 504 approvals worth $2.8 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Boone County?
52 housing units were authorised by permit in 2024, with a declared construction value of $8.9 m. Multifamily was 15.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Boone County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Boone County come from?
The largest single origin is Boone County Non-migrants, with 20,376 households. Arriving households report an average income of $66,927 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Boone County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Boone County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.