Boone County, Illinois: commercial real estate data.
Boone County, Illinois had an estimated 53,313 residents on July 1, 2024, down 0.2 percent since the 2020 census base of 53,446, across 281 square miles. County output reached $1.97 bn in 2024, 890 establishments operate here, and the SBA record carries 37 7(a) approvals worth $16.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Boone County
How many people live in Boone County
- Population, American Community Survey 2020-202453,230
- Households19,460
- Average household size2.74
- Median household income$84,571
- Median age39.7
- Median gross rent$1,041 per month
- Median owner-occupied home value$216,900
- Home value to household income2.6 times
- Annual rent as a share of median income14.8 percent
- Adults 25 and over with a bachelor degree or higher23.6 percent
- Adults 25 and over with a graduate degree9.4 percent
- Adults 25 and over35,680
- Population under 1812,650
- Share under 1823.8 percent
- Population 65 and over8,916
- Share 65 and over16.7 percent
- Working age population, 18 to 6431,664
- Civilian labor force27,925
- Unemployment rate7.4 percent
- Labor force participation, adults 18 and over68.8 percent
- Rank by population among Illinois counties25th of 102
- Rank by population among US county-equivalents, Puerto Rico included972nd of 3,222
Boone County is the 25th largest of 102 Illinois counties by population. A median home costs 2.6 times median household income, which is affordable by national standards. Residents under 18 outnumber those 65 and over, at 23.8 percent against 16.7 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's population growing?
- Population, July 1, 202453,313
- Census 2020 base population53,446
- Population change since the 2020 census base-0.25 percent
- Population change, 2023 to 202474
- Births, 2024525
- Deaths, 2024438
- Natural change, 202487
- Net domestic migration, 2024-53
- Net international migration, 202443
- Total net migration, 2024-10
- Cumulative net domestic migration, 2021 to 2024-216
- Rank by growth among US county-equivalents1939th of 3,144
The county has lost 0.25 percent of its population since the 2020 census base. Births exceeded deaths in 2024 by more than net migration took away, so the population grew even though more people left than moved in.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Boone County
Where are people moving to Boone County from?
- Tax returns filed by households arriving1,611
- People arriving, from those returns3,095
- Tax returns filed by households leaving1,631
- Net household movement-20
- Adjusted gross income arriving$107.8 m
- Net adjusted gross income movement$-5.0 m
- Average income of an arriving household$66,927
- Average income of a leaving household$69,161
- Largest single originWinnebago County (505 households)
- Largest single destinationWinnebago County (627 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Winnebago County | 505 | 969 | $36.6 m |
| McHenry County | 208 | 411 | $11.2 m |
| Cook County | 193 | 398 | $11.1 m |
| Kane County | 151 | 300 | $7.1 m |
| DeKalb County | 56 | 94 | $2.2 m |
| DuPage County | 42 | 84 | $3.5 m |
| Rock County | 33 | 58 | $1.8 m |
| Lake County | 30 | 56 | $2.3 m |
Households arriving report $2,234 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Winnebago County, 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 is the Boone County economy?
- County GDP, 2024$1.97 bn
- County GDP, 2023$1.87 bn
- GDP change, 2023 to 20245.4 percent
- GDP change over five years11.4 percent
- Rank by GDP among the Illinois areas BEA publishes39th of 102
- Rank by GDP among the US county areas BEA publishes1295th of 3,127
- GDP per resident$37,102
Output grew 5.4 percent in the latest year and 11.4 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
Employment by industry in Boone County
- Covered employment, annual average11,526
- Establishments reporting880
- Average annual pay$55,414
- Average weekly wage$1,066
- Manufacturing, employment2,070
- Manufacturing, average annual pay$78,475
- Construction, employment1,476
- Construction, average annual pay$75,196
- Retail trade, employment1,208
- Retail trade, average annual pay$37,366
- Administrative and support and waste management services, employment875
- Administrative and support and waste management services, average annual pay$34,449
- Transportation and warehousing, employment837
- Accommodation and food services, employment764
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 2,070 | 60 | $78,475 |
| Construction | 1,476 | 132 | $75,196 |
| Retail trade | 1,208 | 82 | $37,366 |
| Administrative and support and waste management services | 875 | 81 | $34,449 |
| Transportation and warehousing | 837 | 84 | $52,155 |
| Accommodation and food services | 764 | 70 | $21,414 |
| Health care and social assistance | 604 | 57 | $46,308 |
| Other services, except public administration | 413 | 64 | $34,529 |
Manufacturing is the largest private sector at 2,070 jobs, 18.0 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Boone County
How many businesses are in Boone County?
- Establishments, all industries890
- Employment at those establishments15,427
- Annual payroll$1.03 bn
- Establishments per 1,000 residents16.7
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Boone County
Building permits in Boone County
- Housing units authorized by permit, 202452
- Declared construction value permitted$8.9 m
- Single family units authorized44
- Multifamily units authorized8
- Multifamily share of units15.4 percent
- Average declared value per unit$171,768
- Units authorized per 1,000 households2.7
Single-family homes are 84.6 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Boone County
SBA loans in Boone County (7(a) and 504)
- 7(a) approvals recorded37
- 7(a) gross approval dollars$16.8 m
- Average 7(a) approval$453,773
- Median 7(a) approval$250,000
- 10th percentile approval$34,000
- 90th percentile approval$1,229,600
- Largest single approval$2,227,000
- Jobs reported supported, 7(a)333
- Jobs per approval9.0
- Distinct 7(a) lenders active19
- Distinct industries receiving approvals20
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer21.6 percent
- Loans on real estate terms8
- Loans on working capital terms, 120 months or shorter28
- Franchise loans9
- Franchise share of approvals24.3 percent
- Leading industry by approval countLimited-Service Restaurants (6)
- Most active lenderThe Huntington National Bank (9)
- 504 approvals recorded8
- 504 gross approval dollars$2.8 m
- Average 504 approval$346,125
- Median 504 approval$307,500
- Distinct CDCs active1
- 504 jobs per approval10.4
- 504 jobs per million dollars approved30.0
- Most active CDCRockford Local Development Corporation (8)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$19.6 m
The average approval of $453,773 sits well above the median of $250,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 21.6 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
SBA loan default and charge-off rates in Boone County
Do SBA loans in Boone County get paid back?
- Loans with a final outcome recorded7
- Paid in full5
- Charged off2
- Status: Paid in full5
- Status: Cancelled7
- Status: Exempt from disclosure19
- Status: Charged off2
- Status: Committed, not yet disbursed4
Only 7 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Boone County
SBA lending by place in Boone County
- Borrower cities with recorded lending4
- Belvidere, approvals30
- Cherry Valley, approvals3
- Poplar Grove, approvals2
- Harvard, approvals2
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Belvidere | 30 | $12,323,000 |
| Cherry Valley | 3 | $2,857,000 |
| Poplar Grove | 2 | $1,443,600 |
| Harvard | 2 | $166,000 |
Belvidere accounts for 30 approvals against 3 in Cherry Valley. 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 large is Boone County?
- Land area281 sq mi
- Rank by land area among Illinois counties93rd of 102
- Width, east to west12 mi
- Height, north to south23.7 mi
- Geographies sharing a boundary5
- Residents per square mile of land189
- Establishments per square mile3.17
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.
Boone County
Flood risk in Boone County
- Participation of the county's own NFIP community Boone County, unincorporated areasParticipating, community 170807
- Communities in the county in the NFIP Community Status Book7
- Of those, participating in the NFIP6
- NFIP participation rate85.7 percent
- Communities carrying a CRS class0
- Radon levels in Boone County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Boone County (community 170807), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Boone County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 85.7 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-202453,230
- Households19,460
- Average household size2.74
- Median household income$84,571
- Median age39.7
Common questions
Boone County questions, answered from the record.
How many people live in Boone County, Illinois?
The Census Bureau estimates 53,313 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 53,230, in 19,460 households, ranking 25th of 102 Illinois counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Boone County's population growing?
The population has fallen 0.25 percent since the 2020 census base of 53,446, to 53,313 on July 1, 2024. In 2024 there were 525 births against 438 deaths, with net migration of -10. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Boone County?
$84,571. The median owner-occupied home is valued at $216,900, which is 2.6 times income, and median gross rent is $1,041 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Boone County?
890 establishments, employing 15,427 people with an annual payroll of $1.03 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Boone County?
Manufacturing is the largest private sector at 2,070 jobs, 18.0 percent of covered employment. Covered employment averages 11,526 jobs at an average annual pay of $55,414, or $1,066 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Boone County?
37 7(a) approvals totaling $16.8 m since FY2020, across 19 lenders, with a median approval of $250,000, plus 8 504 approvals worth $2.8 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Boone County?
52 housing units were authorized by permit in 2024, with a declared construction value of $8.9 m. Multifamily was 15.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Boone County?
Zone 1, a predicted average indoor radon screening level greater than 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 Winnebago County, with 505 households. Arriving households report an average income of $66,927 against $69,161 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Boone County
Cities and places in Boone.
10 Census places lie wholly or partly in Boone County. All 10 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Belvidere | city | 24,752 | 30 | Wholly in this county |
| Loves Park | city | 23,502 | None recorded | 3.6 percent here, 96.4 percent Winnebago County |
| Candlewick Lake | CDP | 5,448 | None recorded | Wholly in this county |
| Poplar Grove | village | 3,923 | 2 | Wholly in this county |
| Cherry Valley | village | 3,749 | 3 | 9.1 percent here, 90.9 percent Winnebago County |
| Capron | village | 1,311 | None recorded | Wholly in this county |
| Timberlane | village | 1,278 | None recorded | Wholly in this county |
| Garden Prairie | CDP | 403 | None recorded | Wholly in this county |
| Argyle | CDP | 324 | None recorded | 58.4 percent here, 41.6 percent Winnebago County |
| Caledonia | village | 226 | None recorded | Wholly in this county |
A further 2 of the county's 37 SBA 7(a) approvals are to borrowers in cities that match no Census place in Boone County, the largest being Harvard (2). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby