Boone County, Indiana: commercial real estate data.
Boone County, Indiana has a population of 74,718 across 423 square miles, up 11.3 percent since the 2020 census base. County output reached $6.41 bn in 2024, 1,873 establishments operate here, and the SBA record carries 147 7(a) approvals worth $55.4 m.
123 sourced county values · tier FULL · 11 sections
Boone County
How many people live in Boone County
- Population74,718
- Households28,738
- Average household size2.60
- Median household income$111,250
- Median age38.8
- Median gross rent$1,359 per month
- Median owner-occupied home value$376,200
- Home value to household income3.4 times
- Annual rent as a share of median income14.7 percent
- Adults 25 and over with a bachelor degree or higher51.7 percent
- Adults 25 and over with a graduate degree21.0 percent
- Adults 25 and over49,995
- Population under 1819,066
- Share under 1825.5 percent
- Population 65 and over11,194
- Share 65 and over15.0 percent
- Working age population, 18 to 6444,458
- Civilian labor force40,195
- Unemployment rate2.8 percent
- Labor force participation, adults 18 and over72.2 percent
- Rank by population among Indiana counties23rd of 92
- Rank by population among US county-equivalents756th
Boone County is the 23rd largest of 92 Indiana counties by population. A median home costs 3.4 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 25.5 percent against 15.0 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 base11.26 percent
- Census 2020 base population70,800
- Births, 2024921
- Deaths, 2024644
- Natural change, 2024277
- Net domestic migration, 20242,194
- Net international migration, 2024106
- Total net migration, 20242,300
- Cumulative net domestic migration, 2021 to 20246,333
- Rank by growth among US county-equivalents123rd
The county has grown 11.26 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
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 arriving3,073
- People arriving, from those returns5,821
- Adjusted gross income arriving$356.1 m
- Net adjusted gross income movement$0
- Average income of an arriving household$115,881
- Largest single originBoone County Non-migrants (26,502 households)
- Largest single destination (26,502 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Boone County Non-migrants | 26,502 | 60,760 | $4.26 bn |
| Other flows - Different State | 845 | 1,745 | $114.4 m |
| Marion County | 824 | 1,488 | $88.9 m |
| Hamilton County | 395 | 821 | $67.2 m |
| Other flows - South | 309 | 608 | $30.6 m |
| Other flows - Same State | 290 | 480 | $27.7 m |
| Hendricks County | 276 | 465 | $21.1 m |
| Other flows - Midwest | 261 | 516 | $37.3 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$6.41 bn
- County GDP, 2023$5.99 bn
- GDP change, 2023 to 20247.1 percent
- GDP change over five years57.9 percent
- Rank by GDP among Indiana counties17th
- Rank by GDP among US county-equivalents620th
- GDP per resident$85,821
Output grew 7.1 percent in the latest year and 57.9 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 average45,424
- Establishments reporting2,538
- Average annual pay$55,895
- Average weekly wage$1,075
- Sector 48-49, employment14,462
- Sector 48-49, average annual pay$53,359
- Sector 54, employment3,775
- Sector 54, average annual pay$63,824
- Sector 44-45, employment3,765
- Sector 44-45, average annual pay$41,988
- Sector 31-33, employment3,340
- Sector 31-33, average annual pay$62,878
- Sector 72, employment3,087
- Sector 23, employment2,634
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 48-49 | 14,462 | 115 | $53,359 |
| Sector 54 | 3,775 | 444 | $63,824 |
| Sector 44-45 | 3,765 | 198 | $41,988 |
| Sector 31-33 | 3,340 | 104 | $62,878 |
| Sector 72 | 3,087 | 175 | $24,060 |
| Sector 23 | 2,634 | 212 | $77,940 |
| Sector 62 | 2,444 | 185 | $55,129 |
| Sector 56 | 1,350 | 161 | $48,386 |
The largest sector is the biggest private employer group at 14,462 jobs, 31.8 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 industries1,873
- Employment at those establishments40,984
- Annual payroll$2.06 bn
- Establishments per 1,000 residents25.1
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, 2024893
- Declared construction value permitted$447.2 m
- Single family units authorised893
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$500,839
- Units authorised per 1,000 households31.1
Multifamily is 0.0 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 recorded147
- 7(a) gross approval dollars$55.4 m
- Average 7(a) approval$376,718
- Median 7(a) approval$150,000
- 10th percentile approval$25,000
- 90th percentile approval$920,000
- Largest single approval$4,240,000
- Jobs reported supported, 7(a)1,181
- Jobs per approval8.0
- Distinct 7(a) lenders active37
- Distinct industries receiving approvals72
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer9.5 percent
- Loans on real estate terms14
- Loans on working capital terms, 120 months or shorter125
- Franchise loans11
- Franchise share of approvals7.5 percent
- Leading industry by approval countLimited-Service Restaurants (9)
- Most active lenderThe Huntington National Bank (53)
- 504 approvals recorded42
- 504 gross approval dollars$40.1 m
- Average 504 approval$954,905
- Median 504 approval$458,000
- Distinct CDCs active4
- 504 jobs per approval10.7
- 504 jobs per million dollars approved11.2
- Most active CDCPremier Capital Corporation (18)
- 7(a) share of SBA approvals77.8 percent
- Combined SBA approval dollars$95.5 m
The average approval of $376,718 sits well above the median of $150,000, 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 9.5 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 recorded40
- Paid in full38
- Charged off2
- Charge off rate on resolved loans5.0 percent
- Status: Exempt from disclosure90
- Status: Cancelled11
- Status: Paid in full38
- Status: Charged off2
- Status: Committed, not yet disbursed6
Of the 40 loans that have reached a final outcome, 5.0 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
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 lending9
- Zionsville, approvals80
- Lebanon, approvals45
- Whitestown, approvals12
- Thorntown, approvals5
- JAMESTOWN, approvals1
- Thorntonwn, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| Zionsville | 80 | $24,540,200 |
| Lebanon | 45 | $22,974,400 |
| Whitestown | 12 | $5,068,000 |
| Thorntown | 5 | $544,000 |
| JAMESTOWN | 1 | $223,600 |
| Thorntonwn | 1 | $139,300 |
| ZIONSVILLE, IN | 1 | $190,000 |
| ADVANCE | 1 | $500,000 |
Zionsville accounts for 80 approvals against 45 in Lebanon. 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 area423 sq mi
- Rank by land area among Indiana counties28th of 92
- Width, east to west24.2 mi
- Height, north to south17.8 mi
- Geographies sharing a boundary5
- Residents per square mile of land177
- Establishments per square mile4.43
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.
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.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- 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.
- Population74,718
- Households28,738
- Average household size2.60
- Median household income$111,250
- Median age38.8
Common questions
Boone County questions, answered from the record.
How many people live in Boone County, Indiana?
74,718, in 28,738 households, ranking 23rd of 92 Indiana counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Boone County growing?
The population has grown 11.26 percent since the 2020 census base. In 2024 there were 921 births against 644 deaths, with net migration of 2,300. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Boone County?
$111,250. The median owner-occupied home is valued at $376,200, which is 3.4 times income, and median gross rent is $1,359 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Boone County?
1,873 establishments, employing 40,984 people with an annual payroll of $2.06 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 $55,895, or $1,075 a week, across 45,424 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?
147 7(a) approvals totalling $55.4 m since FY2020, across 37 lenders, with a median approval of $150,000, plus 42 504 approvals worth $40.1 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Boone County get paid back?
Of the 40 loans that have reached a final outcome, 38 were paid in full and 2 charged off, a charge off rate of 5.0 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Boone County?
893 housing units were authorised by permit in 2024, with a declared construction value of $447.2 m. Multifamily was 0.0 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 26,502 households. Arriving households report an average income of $115,881 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.