Vermillion County

Vermillion County sits at a median home price of $137,921, which places it among the most affordable entry points in Indiana and nationally, scoring a perfect 100 on affordability and landing in the 91st percentile out of 1,000 counties nationwide. Home prices are appreciating at 2.16% year-over-year, a modest but positive trajectory that keeps the market from stagnating while preserving the low acquisition costs that make the numbers work for yield-focused buyers. The data does not include a median rent figure or cap rate for this county, so precise cash-flow modeling cannot be completed from the provided inputs alone. What the affordability score and appreciation trajectory do tell you is that Vermillion sits firmly on the cash-flow end of the spectrum, where low purchase prices are the primary lever, rather than on the appreciation end where price growth does the heavy lifting.

The investor best positioned here is a cash-flow buyer or a value-add operator who can acquire below $140,000 and manufacture yield through renovation or operational improvement. The overall score of 74 and appreciation score of 72 are competitive, but the stability score of 50 signals a thinner margin for error on occupancy and income assumptions. At a $137,921 purchase price with 20% down ($27,584), the capital commitment is low enough that even modest rents can produce acceptable returns if leverage is applied carefully at the 6.85% rate reflected in the data. This is not a market for an investor whose thesis depends on double-digit annual appreciation or quick equity appreciation driven by demographic inflow. The play is disciplined acquisition at low basis, with rent collections carrying the return.

No economic anchors or employer data were provided for Vermillion County, so the analysis cannot speak to specific job centers or demand drivers. The county's population of 15,488 is small, which is a structural fact worth holding alongside the stability score of 50. Thin population markets can sustain steady rental demand from a stable working-class base, or they can be fragile to a single employer exit or a broader rural outmigration trend. Neither scenario is supported or contradicted by the available data, but the combination of small population and a mid-range stability score is reason to underwrite conservatively on vacancy assumptions.

On carry costs, the combined monthly tax and insurance estimate is $130, based on Indiana's state-average effective property tax rate of 0.85% and an insurance rate of 0.28%. To be precise, that tax figure is a state-average estimate from the Tax Foundation, and actual county and township rates in Vermillion may differ. At 0.85%, the rate falls into the normal range, meaning it is neither a tailwind nor a flag that demands special treatment in your underwrite. The $130 per month in taxes and insurance is manageable relative to the asset price, and at sub-$140,000 acquisition costs, the fixed carry burden stays proportionate. Where investors tend to get into trouble in small rural Indiana markets is underestimating maintenance and capex reserves on older housing stock, not on tax exposure.

The primary risks here are concentration and demographic. A county of 15,488 people has limited tenant pool depth, and any softening in local employment would show up faster in vacancy than it would in a market ten times the size. There is no vacancy or crime data provided to quantify this further, but the small population and moderate stability score are consistent signals. Regulatory risk does not appear to be a flagged concern in the data.

Comparing Vermillion to its neighbors clarifies where it earns its place. Orange County ($182,100, score 73) and Newton County ($218,351, score 73) both price higher with the same or lower overall score, meaning you are paying more for no better underwriting profile. Miami County ($163,132, score 73) and Delaware County ($160,460, score 75) offer rent data that Vermillion lacks: Miami shows a rent-to-price ratio of 0.072 and Delaware shows 0.080, both respectable, and Delaware's higher rent-to-price ratio makes it a credible alternative for an investor who prioritizes demonstrated yield metrics over pure affordability. Grant County ($147,231, score 75) is the closest comp, slightly higher priced with a marginally better score. Vermillion's case over neighbors rests entirely on lowest entry price at a competitive overall score. If your strategy is maximum capital efficiency on acquisition and you can verify local rents through on-the-ground research, Vermillion is the right choice. If you want rent-to-price ratios already in the data before you commit, Delaware County is where you look first.