Fayette County

Fayette County lands in the 96th percentile nationally out of 1,000 counties scored, and ranks 7th out of 92 Indiana counties, which tells you this market is doing something right. The median home price sits at $165,333, up 4.1% year-over-year, and the affordability index of 95 confirms entry points are still accessible for most investors. The appreciation score of 83 is the standout metric here, suggesting price growth momentum that outpaces what you'd expect from a county this size. Cash flow data is not provided in the underlying dataset, so underwriting rent coverage requires your own comp pull, but the price point alone keeps debt service manageable at a 6.85% rate with a $33,067 down payment on a standard acquisition.

This market scores best for the appreciation-oriented buyer and, secondarily, the affordability-driven value-add operator. An appreciation score of 83 at a $165,333 median means you're buying into price momentum without paying a premium for it, which is the positioning most equity-growth investors want. The stability score of 50 is the honest counterweight: Fayette is a small county at 23,391 people, and thin population base creates concentration risk. A cash-flow buyer who needs verified rent-to-price ratios before committing should treat the missing cash flow score as a flag to do deeper local rent comp work before underwriting to a number.

The tax and insurance picture is a quiet tailwind here. At Indiana's state-average effective property tax rate of 0.85%, the annual tax bill on a median-priced acquisition runs approximately $1,405, and insurance adds another $463 annually, putting combined monthly carry for tax and insurance at $156. That's a manageable figure relative to the price point, and the 0.85% rate falls in the "normal" range, meaning it doesn't distort your cap rate calculation the way a 1.7%+ rate would in a high-tax state. Keep in mind this rate is a state-average estimate from Tax Foundation 2024 data, and your actual Fayette County or township rate may differ, so pull the assessor's card before finalizing any underwrite.

On economic context, no employer anchor data was provided for Fayette County, so the job base and rental demand drivers require independent diligence. For a county of 23,391, demand stability is typically tied to a small number of anchors, and that concentration deserves scrutiny. The stability score of 50 reflects this directly. An investor should be asking whether local employment is diversified enough to sustain occupancy through a regional slowdown, and that answer isn't in the data provided here.

The neighbor comparison adds useful context. Delaware County prices at $160,459 with a rent-to-price ratio of 0.080, which equates to a median rent of $1,071, and carries an overall score of 75. Miami County prices similarly at $163,132 with a rent-to-price ratio of 0.072 and a $976 median rent, also scoring 75. Both neighbors score meaningfully lower than Fayette's 77 overall, and both offer rent-to-price transparency that Fayette's data doesn't yet supply. Greene County prices higher at $198,077 with a comparable overall score of 78, meaning you'd pay roughly $33,000 more at the median for essentially the same score. Grant County comes in cheaper at $147,231 but scores 75, so the discount comes with a quality haircut.

Choose Fayette over its neighbors when you're targeting appreciation momentum at an affordable entry point and are comfortable doing your own rent comp work to fill the cash flow gap in the data. If you need a market where rent-to-price ratios are already benchmarked and cash flow visibility is higher out of the gate, Delaware County's 0.080 gross yield ratio gives you a cleaner starting point, even at a slightly lower overall score. Fayette's 96th percentile national rank is the headline, but investors should treat it as a signal to dig deeper rather than a substitute for local diligence.