Boone, North Carolina Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Boone, North Carolina rental market.
Boone, North Carolina
Average Apartment Rent
$2,470
Y-o-Y Change in Average
Apartment Rent
-2.9%
As of May 2026
Compared to a year ago, Boone, North Carolina apartments have recorded a -2.9% rent decrease.
Boone, North Carolina Average apartment rent trend
Boone, North Carolina Average Apartment Rent
Boone, North Carolina Apartment rent ranges
At 29.48%, apartments priced $1,500 - $2,000 represent the bulk of Boone, North Carolina rentals, while condos priced $2,000 - $2,500 hold the lowest share of the market – 11.74%.
Boone, North Carolina Housing tenure**
Renters take up 77% of Boone, North Carolina real estate, occupying a total of 4,502 units, while homeowners live in 1,337 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$20,420
Average household size of renter-occupied housing units**
2.37
Rental vacancy rate**
1.3%
Boone, North Carolina Renter-occupied housing units by no. of bedrooms**
There are 2,306 rentals in Boone, North Carolina with 2 beds making up the highest share of the market, at 51%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 52 units. Overall, the median number of rooms in Boone, North Carolina homes for rent is 4.
Boone, North Carolina Renter-occupied units by age of householder**
Most condos for rent in Boone, North Carolina are occupied by residents in the 15 - 24 years age group (62%), followed by those in the 25 - 34 years age group (20%). At the same time, people in the 65 - 74 years age group make up the lowest share of the local rental market – 1%.
Boone, North Carolina Renter-occupied housing units by family type**
Boone, North Carolina Renter-occupied housing units by the presence of own children**
A total of 531 apartments for rent in Boone, North Carolina, or 12% of all rentals are family households. Additionally, 6% of rental homes include children under the age of 18 – that’s 261 units. All in all, the median size of a renter-occupied household in Boone, North Carolina is 2.37.
Boone, North Carolina Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 26% of the rental market. In contrast, residents with less than a high school degree reside in 2% of the homes for rent in Boone, North Carolina.
Boone, North Carolina Renter-occupied units by year structure built**
The highest share of Boone, North Carolina apartment rentals, namely 24% or 1,081 units, were Built 1980 - 1989, followed by those Built 2010 - 2019 (18%, 792 units), and the ones Built 1970 - 1979 (16%, 698 units).
Boone, North Carolina Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Boone, North Carolina renters (56%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Boone, North Carolina condos for rent is 2019.
Boone, North Carolina Renter-occupied housing units by vehicles available**
When it comes to transportation options, 37% of Boone, North Carolina renters have 2 vehicles available per household, 37% of them have 1 vehicle available, and 10% have 3 vehicles available.
Boone, North Carolina Means of transportation to work of householders living in renter-occupied housing units**
Boone, North Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Boone, North Carolina apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
