Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 6,676 people, 2,777 houses or apartments, and a median cost of homes of $194,941, house prices in Boonville are solidly below the national average.
Single-family detached homes are the single most common housing type in Boonville, accounting for 78.65% of the city's housing units. Other types of housing that are prevalent in Boonville include large apartment complexes or high rise apartments ( 9.59%), duplexes, homes converted to apartments or other small apartment buildings ( 9.07%), and a few mobile homes or trailers ( 1.43%).
People in Boonville primarily live in small (one, two or no bedroom) single-family detached homes. Boonville has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Boonville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Boonville built before 1939 ( 32.26%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.27%). There's also some housing in Boonville built between 2000 and later ( 7.00%).
Vacant housing appears to be an issue in Boonville. Fully 10.04% of the housing stock is classified as vacant. Left unchecked, vacant Boonville homes and apartments can be a drag on the real estate market, holding Boonville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Boonville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.00%, which ranks in the top 40% nationwide. This equates to an annual average Boonville house appreciation rate of 6.68%.
NeighborhoodScout's data show that during the latest twelve months, Boonville's appreciation rate, at 5.77%, has been at or slightly above the national average. In the latest quarter, Boonville's appreciation rate has been 0.76%, which annualizes to a rate of 3.07%.
Relative to Indiana, our data show that Boonville's latest annual appreciation rate is higher than 80% of the other cities and towns in Indiana.
$194,941
for Indiana
for nation
2,777
$1,288 / per month