How many renters live in Boone County, West Virginia?
The County of Boone County has 21,705 people living in 7,992 households.
There are 3,962 renters living in 1,673 renter households in this County. Renters make up 18.25 percent of the population living in Boone County.
What is the rental market like in Boone County, West Virginia?
There are an estimated 10,205 housing units in the Boone County area. Of these, 1,771 units are rental homes, making up 17 percent of the housing market. For every renter household in Boone County, West Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Boone County?
The rental vacancy rate in Boone County is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Boone County for each bedroom size?
Occupied Rental Units by Size in Boone County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 6 | 196 | 888 | 464 | 114 |
Occupied Rental Units by Size in Boone County
A large number of apartments in Boone County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Boone County are overburdened by housing costs?
Among renter households in this market, 38 percent have housing cost burden. Further, 25 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Boone County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $620 to $1,439. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $620 |
| One BR | $755 |
| Two BR | $848 |
| Three BR | $1,195 |
| Four BR | $1,439 |
2024 Fair Market Rents in Boone County, West Virginia
How many units are rented at Fair Market Rent (FMR) in Boone County?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 6 | 100 percent |
| One BR | 154 | 79 percent |
| Two BR | 439 | 49 percent |
Rental Units Below FMR in Boone County, West Virginia
How many affordable rental units are in Boone County?
There are a variety of federal affordable housing programs serving households in Boone County, West Virginia including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 56 |
| Public Housing | 75 |
| Section 8 Project-Based Rental Assistance | 1 |
| Section 202 Supportive Housing for the Elderly | 1 |
| USDA Section 515 Rural Rental Housing | 56 |
Tracked Units by Federal Program in Boone County, West Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Boone County, West Virginia
Boone County features 75 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Boone County, West Virginia
There are 102 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Boone County.
Housing Choice Vouchers in Boone County, West Virginia
On average, Section 8 Housing Choice vouchers pay Boone County landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Boone County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Boone County, West Virginia for a two-bedroom apartment is between $763 and $933.
Sourced from federal housing data and AffordableHousingOnline.com research.
