-The Boone Economic Development Corporation (Boone EDC) is excited to announce the release of the 2024 Housing Study and Utility Needs Analysis for Boone County. This comprehensive report, conducted in collaboration with Urban Partners and HWC Engineering, is a vital component of the Boone EDC’s 5-year strategic plan and was made possible through a generous
grant from READI 1.0. It is a report that is all encompassing for the future planning of Boone County. The report was unveiled on January 23, 2024, during an exclusive presentation, where key partners gathered to learn about the findings that will shape Boone County’s future development.
Key Findings from the Report:
Population Growth: Boone County has experienced a remarkable 51% population growth from 2000-2021, surging from 46,107 to 69,839 residents.
Income Trends: The county is attracting wealthier households from Marion County, boasting an average median household income of $94,843.
Housing Challenges: Newly built homes are increasing in size, posing challenges to housing attainability. Vacancy rates for multi-family rentals, particularly in Lebanon, remain critically low.
Housing Cost Burden: Despite the high median household income, 7,350 Boone County households are grappling with housing cost burdens.
Land Use and Zoning Policies: Current policies, coupled with community opposition, may restrict housing developments.
Infrastructure Challenges: Growth potential for Jamestown, Thorntown, Advance, and the Western Boone School District is limited by infrastructure capacity.
Future Projections: By 2050, Boone County’s forecasted population is estimated to reach 97,944, with a growth of 13,600 households. The LE/AP district is projected to add 15,600 households by 2050.
