The Low-Income Housing Tax Credit (LIHTC) program has funded 76 affordable housing units in Boone, North Carolina, all designated as low-income units. These units represent approximately 0.66% of the town's estimated housing inventory of 11,467 units. Boone has received $352,216 in project tax credits through the LIHTC program, averaging $176,108 per project and $4,634 per unit in federal funding. The town holds 0.08% of North Carolina's total LIHTC funding.

The LIHTC-funded housing in Boone consists of 34 one-bedroom units, 22 two-bedroom units, 16 three-bedroom units, and 4 four-bedroom units. This diverse mix of unit sizes suggests an effort to accommodate various household sizes and needs. The first LIHTC project in Boone, Ivy Terrace Apartments, was completed in 1996, while the most recent, White Laurel, was finished in 1999. This indicates that affordable housing through LIHTC has been present in the city for over two decades.

Over the past decade, Boone's population has grown from 27,416 in 2015 to 29,929 in 2022, a 9.2% increase. The median income has risen from $25,539 in 2015 to $39,338 in 2022, a 54% increase. The racial composition has remained relatively stable, with the white population consistently around 90% and small increases in Asian and Hispanic populations.