Boone County, Kentucky: commercial real estate data.
Boone County, Kentucky had an estimated 144,135 residents on July 1, 2024, up 6.0 percent since the 2020 census base of 135,994, across 246 square miles. County output reached $16.78 bn in 2024, 3,163 establishments operate here, and the SBA record carries 178 7(a) approvals worth $69.6 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 2020-2024139,841
- Households50,963
- Average household size2.74
- Median household income$99,414
- Median age37.7
- Median gross rent$1,373 per month
- Median owner-occupied home value$277,300
- Home value to household income2.8 times
- Annual rent as a share of median income16.6 percent
- Adults 25 and over with a bachelor degree or higher35.7 percent
- Adults 25 and over with a graduate degree13.3 percent
- Adults 25 and over92,388
- Population under 1835,763
- Share under 1825.6 percent
- Population 65 and over20,788
- Share 65 and over14.9 percent
- Working age population, 18 to 6483,290
- Civilian labor force73,032
- Unemployment rate3.1 percent
- Labor force participation, adults 18 and over70.2 percent
- Rank by population among Kentucky counties5th of 120
- Rank by population among US county-equivalents, Puerto Rico included478th of 3,222
Boone County is the 5th largest of 120 Kentucky counties by population. A median home costs 2.8 times median household income, which is affordable by national standards. Residents under 18 outnumber those 65 and over, at 25.6 percent against 14.9 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, 2024144,135
- Census 2020 base population135,994
- Population change since the 2020 census base5.99 percent
- Population change, 2023 to 20242,624
- Births, 20241,686
- Deaths, 20241,110
- Natural change, 2024576
- Net domestic migration, 2024693
- Net international migration, 20241,347
- Total net migration, 20242,040
- Cumulative net domestic migration, 2021 to 20242,295
- Rank by growth among US county-equivalents408th of 3,144
The county has grown 5.99 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
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 arriving4,694
- People arriving, from those returns8,645
- Tax returns filed by households leaving4,590
- Net household movement104
- Adjusted gross income arriving$303.8 m
- Net adjusted gross income movement$-20.8 m
- Average income of an arriving household$64,724
- Average income of a leaving household$70,730
- Largest single originKenton County (1,496 households)
- Largest single destinationKenton County (1,508 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Kenton County | 1,496 | 2,815 | $85.8 m |
| Hamilton County | 373 | 629 | $26.0 m |
| Campbell County | 269 | 459 | $16.0 m |
| Grant County | 172 | 366 | $11.5 m |
| Clermont County | 92 | 158 | $4.9 m |
| Fayette County | 84 | 128 | $4.3 m |
| Butler County | 82 | 128 | $5.0 m |
| Jefferson County | 76 | 123 | $4.5 m |
Households arriving report $6,006 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Kenton 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$16.78 bn
- County GDP, 2023$16.34 bn
- GDP change, 2023 to 20242.7 percent
- GDP change over five years33.9 percent
- Rank by GDP among the Kentucky areas BEA publishes3rd of 120
- Rank by GDP among the US county areas BEA publishes300th of 3,127
- GDP per resident$119,960
Output grew 2.7 percent in the latest year and 33.9 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 average102,941
- Establishments reporting6,277
- Average annual pay$59,189
- Average weekly wage$1,138
- Transportation and warehousing, employment25,038
- Transportation and warehousing, average annual pay$59,956
- Manufacturing, employment13,367
- Manufacturing, average annual pay$75,569
- Administrative and support and waste management services, employment9,826
- Administrative and support and waste management services, average annual pay$41,396
- Retail trade, employment9,500
- Retail trade, average annual pay$41,368
- Accommodation and food services, employment8,253
- Wholesale trade, employment8,094
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Transportation and warehousing | 25,038 | 334 | $59,956 |
| Manufacturing | 13,367 | 419 | $75,569 |
| Administrative and support and waste management services | 9,826 | 438 | $41,396 |
| Retail trade | 9,500 | 566 | $41,368 |
| Accommodation and food services | 8,253 | 418 | $27,019 |
| Wholesale trade | 8,094 | 482 | $83,455 |
| Health care and social assistance | 6,653 | 728 | $56,671 |
| Construction | 2,953 | 455 | $76,165 |
Transportation and warehousing is the largest private sector at 25,038 jobs, 24.3 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 industries3,163
- Employment at those establishments88,138
- Annual payroll$5.05 bn
- Establishments per 1,000 residents22.6
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, 20241,430
- Declared construction value permitted$159.9 m
- Single family units authorized452
- Multifamily units authorized978
- Multifamily share of units68.4 percent
- Average declared value per unit$111,802
- Units authorized per 1,000 households28.1
Multifamily is 68.4 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Boone County
SBA loans in Boone County (7(a) and 504)
- 7(a) approvals recorded178
- 7(a) gross approval dollars$69.6 m
- Average 7(a) approval$391,139
- Median 7(a) approval$112,900
- 10th percentile approval$25,000
- 90th percentile approval$1,000,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)1,991
- Jobs per approval11.2
- Distinct 7(a) lenders active32
- Distinct industries receiving approvals92
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer13.5 percent
- Loans on real estate terms24
- Loans on working capital terms, 120 months or shorter146
- Franchise loans27
- Franchise share of approvals15.2 percent
- Leading industry by approval countGeneral Freight Trucking, Local (9)
- Most active lenderThe Huntington National Bank (84)
- 504 approvals recorded43
- 504 gross approval dollars$31.3 m
- Average 504 approval$728,512
- Median 504 approval$396,000
- Distinct CDCs active5
- 504 jobs per approval9.0
- 504 jobs per million dollars approved12.3
- Most active CDCAlloy Development Co., Inc. (31)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$100.9 m
The average approval of $391,139 sits well above the median of $112,900, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 13.5 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 recorded48
- Paid in full46
- Charged off2
- Charge-off rate on resolved loans4.2 percent
- Status: Paid in full46
- Status: Cancelled21
- Status: Charged off2
- Status: Exempt from disclosure100
- Status: Committed, not yet disbursed9
Of the 48 loans that have reached a final outcome, 4.2 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
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 lending12
- Florence, approvals85
- Union, approvals26
- Burlington, approvals26
- Walton, approvals17
- Hebron, approvals9
- Verona, approvals6
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Florence | 85 | $41,858,900 |
| Union | 26 | $8,462,300 |
| Burlington | 26 | $5,183,800 |
| Walton | 17 | $7,068,000 |
| Hebron | 9 | $918,200 |
| Verona | 6 | $692,500 |
| Petersburg | 3 | $348,700 |
| Crittenden | 2 | $1,729,900 |
| 4 other borrower cities | 4 | $3,360,500 |
Florence accounts for 85 approvals against 26 in Union. 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 area246 sq mi
- Rank by land area among Kentucky counties87th of 120
- Width, east to west16.1 mi
- Height, north to south25.6 mi
- Geographies sharing a boundary7
- Residents per square mile of land568
- Establishments per square mile12.86
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 210013
- Communities in the county in the NFIP Community Status Book4
- Of those, participating in the NFIP4
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Boone County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Boone County (community 210013), 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 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 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 2020-2024139,841
- Households50,963
- Average household size2.74
- Median household income$99,414
- Median age37.7
Common questions
Boone County questions, answered from the record.
How many people live in Boone County, Kentucky?
The Census Bureau estimates 144,135 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 139,841, in 50,963 households, ranking 5th of 120 Kentucky counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Boone County's population growing?
The population has grown 5.99 percent since the 2020 census base of 135,994, to 144,135 on July 1, 2024. In 2024 there were 1,686 births against 1,110 deaths, with net migration of 2,040. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Boone County?
$99,414. The median owner-occupied home is valued at $277,300, which is 2.8 times income, and median gross rent is $1,373 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Boone County?
3,163 establishments, employing 88,138 people with an annual payroll of $5.05 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?
Transportation and warehousing is the largest private sector at 25,038 jobs, 24.3 percent of covered employment. Covered employment averages 102,941 jobs at an average annual pay of $59,189, or $1,138 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?
178 7(a) approvals totaling $69.6 m since FY2020, across 32 lenders, with a median approval of $112,900, plus 43 504 approvals worth $31.3 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Boone County get paid back?
Of the 48 loans that have reached a final outcome, 46 were paid in full and 2 charged off, a charge-off rate of 4.2 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Boone County?
1,430 housing units were authorized by permit in 2024, with a declared construction value of $159.9 m. Multifamily was 68.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Boone County?
Zone 2, a predicted average indoor radon screening level from 2 to 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 Kenton County, with 1,496 households. Arriving households report an average income of $64,724 against $70,730 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.
11 Census places lie wholly or partly in Boone County. All 11 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 |
|---|---|---|---|---|
| Florence | city | 32,803 | 85 | Wholly in this county |
| Burlington | CDP | 18,008 | 26 | Wholly in this county |
| Francisville | CDP | 10,565 | None recorded | Wholly in this county |
| Oakbrook | CDP | 10,211 | None recorded | Wholly in this county |
| Union | city | 7,642 | 26 | Wholly in this county |
| Hebron | CDP | 6,407 | 9 | Wholly in this county |
| Walton | city | 5,730 | 17 | 78.6 percent here, 21.4 percent Kenton County |
| Verona | CDP | 1,394 | 6 | Wholly in this county |
| Petersburg | CDP | 771 | 3 | Wholly in this county |
| Belleview | CDP | 262 | None recorded | Wholly in this county |
| Rabbit Hash | CDP | 175 | None recorded | Wholly in this county |
A further 6 of the county's 178 SBA 7(a) approvals are to borrowers in cities that match no Census place in Boone County, the largest being Crittenden (2), Beavercreek (1), Independence (1). 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.