Boone County, Kentucky: commercial real estate data.
Boone County, Kentucky has a population of 139,841 across 246 square miles, up 6.0 percent since the 2020 census base. County output reached $16.78 bn in 2024, 3,163 establishments operate here, and the SBA record carries 178 7(a) approvals worth $69.6 m.
123 sourced county values · tier FULL · 11 sections
Boone County
How many people live in Boone County
- Population139,841
- Households50,963
- Average household size2.74
- Median household income$99,414
- Median age37.7
- Median gross rent$1,373 per month
- Median owner-occupied home value$277,300
- Home value to household income2.8 times
- Annual rent as a share of median income16.6 percent
- Adults 25 and over with a bachelor degree or higher35.7 percent
- Adults 25 and over with a graduate degree13.3 percent
- Adults 25 and over92,388
- Population under 1835,763
- Share under 1825.6 percent
- Population 65 and over20,788
- Share 65 and over14.9 percent
- Working age population, 18 to 6483,290
- Civilian labor force73,032
- Unemployment rate3.1 percent
- Labor force participation, adults 18 and over70.2 percent
- Rank by population among Kentucky counties5th of 120
- Rank by population among US county-equivalents478th
Boone County is the 5th largest of 120 Kentucky counties by population. A median home costs 2.8 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 25.6 percent against 14.9 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 base5.99 percent
- Census 2020 base population135,994
- Births, 20241,686
- Deaths, 20241,110
- Natural change, 2024576
- Net domestic migration, 2024693
- Net international migration, 20241,347
- Total net migration, 20242,040
- Cumulative net domestic migration, 2021 to 20242,295
- Rank by growth among US county-equivalents408th
The county has grown 5.99 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 arriving4,694
- People arriving, from those returns8,645
- Adjusted gross income arriving$303.8 m
- Net adjusted gross income movement$0
- Average income of an arriving household$64,724
- Largest single originBoone County Non-migrants (50,110 households)
- Largest single destination (50,110 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Boone County Non-migrants | 50,110 | 108,817 | $4.75 bn |
| Kenton County | 1,496 | 2,815 | $85.8 m |
| Other flows - Different State | 1,486 | 2,819 | $112.7 m |
| Other flows - South | 584 | 1,104 | $45.2 m |
| Other flows - Midwest | 492 | 880 | $35.1 m |
| Hamilton County | 373 | 629 | $26.0 m |
| Campbell County | 269 | 459 | $16.0 m |
| Other flows - West | 252 | 542 | $21.7 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$16.78 bn
- County GDP, 2023$16.34 bn
- GDP change, 2023 to 20242.7 percent
- GDP change over five years33.9 percent
- Rank by GDP among Kentucky counties3rd
- Rank by GDP among US county-equivalents300th
- GDP per resident$119,960
Output grew 2.7 percent in the latest year and 33.9 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 average102,941
- Establishments reporting6,277
- Average annual pay$59,189
- Average weekly wage$1,138
- Sector 48-49, employment25,038
- Sector 48-49, average annual pay$59,956
- Sector 31-33, employment13,367
- Sector 31-33, average annual pay$75,569
- Sector 56, employment9,826
- Sector 56, average annual pay$41,396
- Sector 44-45, employment9,500
- Sector 44-45, average annual pay$41,368
- Sector 72, employment8,253
- Sector 42, employment8,094
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 48-49 | 25,038 | 334 | $59,956 |
| Sector 31-33 | 13,367 | 419 | $75,569 |
| Sector 56 | 9,826 | 438 | $41,396 |
| Sector 44-45 | 9,500 | 566 | $41,368 |
| Sector 72 | 8,253 | 418 | $27,019 |
| Sector 42 | 8,094 | 482 | $83,455 |
| Sector 62 | 6,653 | 728 | $56,671 |
| Sector 23 | 2,953 | 455 | $76,165 |
The largest sector is the biggest private employer group at 25,038 jobs, 24.3 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 industries3,163
- Employment at those establishments88,138
- Annual payroll$5.05 bn
- Establishments per 1,000 residents22.6
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, 20241,430
- Declared construction value permitted$159.9 m
- Single family units authorised452
- Multifamily units authorised978
- Multifamily share of units68.4 percent
- Average declared value per unit$111,802
- Units authorised per 1,000 households28.1
Multifamily is 68.4 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Boone County
How much SBA lending happens in Boone County
- 7(a) approvals recorded178
- 7(a) gross approval dollars$69.6 m
- Average 7(a) approval$391,139
- Median 7(a) approval$112,900
- 10th percentile approval$25,000
- 90th percentile approval$1,000,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)1,991
- Jobs per approval11.2
- Distinct 7(a) lenders active32
- Distinct industries receiving approvals92
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer13.5 percent
- Loans on real estate terms24
- Loans on working capital terms, 120 months or shorter146
- Franchise loans27
- Franchise share of approvals15.2 percent
- Leading industry by approval countGeneral Freight Trucking, Local (9)
- Most active lenderThe Huntington National Bank (84)
- 504 approvals recorded43
- 504 gross approval dollars$31.3 m
- Average 504 approval$728,512
- Median 504 approval$396,000
- Distinct CDCs active5
- 504 jobs per approval9.0
- 504 jobs per million dollars approved12.3
- Most active CDCAlloy Development Co., Inc. (31)
- 7(a) share of SBA approvals80.5 percent
- Combined SBA approval dollars$100.9 m
The average approval of $391,139 sits well above the median of $112,900, 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 13.5 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 recorded48
- Paid in full46
- Charged off2
- Charge off rate on resolved loans4.2 percent
- Status: Paid in full46
- Status: Cancelled21
- Status: Charged off2
- Status: Exempt from disclosure100
- Status: Committed, not yet disbursed9
Of the 48 loans that have reached a final outcome, 4.2 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 lending13
- Florence, approvals85
- Burlington, approvals26
- UNION, approvals26
- WALTON, approvals16
- Hebron, approvals9
- VERONA, approvals6
| Place | Approvals | Gross approval dollars |
|---|---|---|
| Florence | 85 | $41,858,900 |
| Burlington | 26 | $5,183,800 |
| UNION | 26 | $8,462,300 |
| WALTON | 16 | $6,718,000 |
| Hebron | 9 | $918,200 |
| VERONA | 6 | $692,500 |
| PETERSBURG | 3 | $348,700 |
| CRITTENDEN | 2 | $1,729,900 |
Florence accounts for 85 approvals against 26 in Burlington. 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 area246 sq mi
- Rank by land area among Kentucky counties87th of 120
- Width, east to west16.1 mi
- Height, north to south25.6 mi
- Geographies sharing a boundary3
- Residents per square mile of land568
- Establishments per square mile12.86
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.
- Population139,841
- Households50,963
- Average household size2.74
- Median household income$99,414
- Median age37.7
Common questions
Boone County questions, answered from the record.
How many people live in Boone County, Kentucky?
139,841, in 50,963 households, ranking 5th of 120 Kentucky counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Boone County growing?
The population has grown 5.99 percent since the 2020 census base. In 2024 there were 1,686 births against 1,110 deaths, with net migration of 2,040. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Boone County?
$99,414. The median owner-occupied home is valued at $277,300, which is 2.8 times income, and median gross rent is $1,373 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Boone County?
3,163 establishments, employing 88,138 people with an annual payroll of $5.05 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 $59,189, or $1,138 a week, across 102,941 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?
178 7(a) approvals totalling $69.6 m since FY2020, across 32 lenders, with a median approval of $112,900, plus 43 504 approvals worth $31.3 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Boone County get paid back?
Of the 48 loans that have reached a final outcome, 46 were paid in full and 2 charged off, a charge off rate of 4.2 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Boone County?
1,430 housing units were authorised by permit in 2024, with a declared construction value of $159.9 m. Multifamily was 68.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Boone County?
Zone 2, a predicted average indoor radon screening level from 2 to 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 50,110 households. Arriving households report an average income of $64,724 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.