Best Places to Buy Rental Property in Indiana (2026)
We ranked all 45 Indiana counties that have both a median home price and a median rent, ordered by the cap rate a median-priced rental would produce. Grant County leads at 4.8%, with a median price of $155,576.
Indiana counties ranked by cap rate
| # | Market | Cap rate | Median price | Median rent | Cash flow | Analyze |
|---|---|---|---|---|---|---|
| 1 | Grant County, IN | 4.8% | $155,576 | $957 | -$194 | Run numbers |
| 2 | Vigo County, IN | 4.8% | $164,059 | $1,007 | -$206 | Run numbers |
| 3 | Marion County, IN | 4.8% | $232,522 | $1,422 | -$294 | Run numbers |
| 4 | Lawrence County, IN | 4.7% | $210,503 | $1,275 | -$275 | Run numbers |
| 5 | Madison County, IN | 4.5% | $190,722 | $1,109 | -$279 | Run numbers |
| 6 | Lake County, IN | 4.5% | $254,401 | $1,465 | -$381 | Run numbers |
| 7 | Delaware County, IN | 4.4% | $172,499 | $982 | -$266 | Run numbers |
| 8 | Warrick County, IN | 4.4% | $295,221 | $1,659 | -$469 | Run numbers |
| 9 | Saint Joseph County, IN | 4.4% | $234,849 | $1,317 | -$375 | Run numbers |
| 10 | Miami County, IN | 4.4% | $164,847 | $922 | -$265 | Run numbers |
| 11 | Perry County, IN | 4.3% | $192,072 | $1,065 | -$315 | Run numbers |
| 12 | Clay County, IN | 4.3% | $187,040 | $1,025 | -$314 | Run numbers |
| 13 | Hendricks County, IN | 4.1% | $347,608 | $1,839 | -$627 | Run numbers |
| 14 | Vanderburgh County, IN | 4.1% | $204,267 | $1,075 | -$372 | Run numbers |
| 15 | Morgan County, IN | 4.1% | $303,869 | $1,598 | -$555 | Run numbers |
| 16 | Howard County, IN | 4.1% | $194,967 | $1,014 | -$363 | Run numbers |
| 17 | Johnson County, IN | 4.0% | $317,858 | $1,645 | -$597 | Run numbers |
| 18 | Dubois County, IN | 4.0% | $265,348 | $1,367 | -$503 | Run numbers |
| 19 | Wayne County, IN | 4.0% | $175,707 | $893 | -$341 | Run numbers |
| 20 | Hancock County, IN | 4.0% | $332,576 | $1,685 | -$648 | Run numbers |
| 21 | Allen County, IN | 3.9% | $258,784 | $1,303 | -$510 | Run numbers |
| 22 | Bartholomew County, IN | 3.9% | $277,100 | $1,398 | -$544 | Run numbers |
| 23 | Jefferson County, IN | 3.9% | $240,414 | $1,200 | -$480 | Run numbers |
| 24 | Tippecanoe County, IN | 3.7% | $301,616 | $1,439 | -$646 | Run numbers |
| 25 | Clark County, IN | 3.7% | $268,165 | $1,276 | -$576 | Run numbers |
| 26 | Monroe County, IN | 3.6% | $317,709 | $1,463 | -$715 | Run numbers |
| 27 | Boone County, IN | 3.5% | $423,125 | $1,926 | -$966 | Run numbers |
| 28 | Porter County, IN | 3.5% | $334,922 | $1,492 | -$786 | Run numbers |
| 29 | Shelby County, IN | 3.5% | $246,475 | $1,092 | -$582 | Run numbers |
| 30 | Dearborn County, IN | 3.4% | $333,417 | $1,460 | -$799 | Run numbers |
| 31 | Kosciusko County, IN | 3.4% | $295,139 | $1,287 | -$711 | Run numbers |
| 32 | Marshall County, IN | 3.4% | $267,657 | $1,155 | -$652 | Run numbers |
| 33 | Randolph County, IN | 3.4% | $163,129 | $700 | -$400 | Run numbers |
| 34 | La Porte County, IN | 3.3% | $262,759 | $1,120 | -$649 | Run numbers |
| 35 | Elkhart County, IN | 3.3% | $268,131 | $1,134 | -$668 | Run numbers |
| 36 | Huntington County, IN | 3.2% | $213,895 | $881 | -$548 | Run numbers |
| 37 | Floyd County, IN | 3.1% | $289,954 | $1,170 | -$760 | Run numbers |
| 38 | Henry County, IN | 3.1% | $193,177 | $777 | -$507 | Run numbers |
| 39 | Clinton County, IN | 3.1% | $229,746 | $921 | -$606 | Run numbers |
| 40 | Noble County, IN | 3.1% | $258,062 | $1,031 | -$682 | Run numbers |
| 41 | Hamilton County, IN | 3.1% | $470,542 | $1,854 | -$1,262 | Run numbers |
| 42 | Montgomery County, IN | 3.0% | $227,956 | $888 | -$618 | Run numbers |
| 43 | De Kalb County, IN | 2.9% | $257,085 | $942 | -$735 | Run numbers |
| 44 | Posey County, IN | 2.8% | $241,834 | $879 | -$696 | Run numbers |
| 45 | Steuben County, IN | 2.7% | $322,144 | $1,120 | -$961 | Run numbers |
Looking for every county in the state, including those without rent data? Browse the full Indiana market directory.
How this ranking is calculated
We scored 45 counties in Indiana and ranked them by capitalization rate, calculated as annual net operating income divided by median home price. Markets without both a median home price and a median rent are excluded, because cash flow cannot be estimated without both.
Every figure assumes a median-priced home rented at the local median rent, financed with 20 percent down on a 30-year loan at 6.85%, with closing costs at 3 percent of price and operating costs at 35 percent of rent. Operating costs cover taxes, insurance, maintenance, vacancy, and management.
These are modeled estimates for comparing markets, not quotes on a specific property. A real deal turns on the individual property, its condition, and the actual rent it can command. Run any market that interests you through the calculator with real numbers before you make an offer.
National rankings
Compare Indiana against the rest of the country.
Best Cash Flow Markets for Rental Property
US counties ranked by estimated monthly cash flow on a median-priced rental, after mortgage and operating costs.
Highest Cap Rate Markets for Rental Property
US counties ranked by estimated cap rate on a median-priced rental, using local median rent and a 35 percent operating cost assumption.
Best Rental Markets Under $200,000
US counties with a median home price under $200,000, ranked by estimated cap rate on a median-priced rental.
Cheapest Markets With Positive Cash Flow
The lowest-priced US counties where a median-priced rental still covers its mortgage and operating costs.
Best Appreciation Markets for Real Estate Investors
US counties ranked by appreciation score, blending recent home price growth with the risk of an overheated market.
Best Overall Real Estate Markets to Invest In
US counties ranked by overall investment score, blending cash flow, appreciation, stability, and affordability.
Other states
States with fewer than 5 counties reporting both price and rent are omitted, because a ranking that short would not be meaningful.
Run the numbers on a Indiana property
Start from Grant County median values and replace them with a real listing price and rent to see whether the deal actually works.