2024 · Indiana
Rental yield in Indiana
In 2024, the typical rental in Indiana produced a gross yield of 5.4% — $1,104/mo median rent against a $244K median home value, ranking 12th of 51 states.
5.4%
Gross rental yield
above the 4.9% U.S. median
$1,104/mo
Median gross rent
incl. utilities (ACS)
$244K
Median home value
owner-occupied (ACS)
Indiana metros by yield
Metropolitan areas in Indiana with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Muncie, IN | 7.3% | $944/mo | $154K |
| Terre Haute, IN | 6.9% | $893/mo | $156K |
| South Bend-Mishawaka, IN-MI | 6.1% | $1,101/mo | $217K |
| Kokomo, IN | 6.0% | $877/mo | $175K |
| Michigan City-La Porte, IN | 5.6% | $999/mo | $216K |
| Columbus, IN | 5.5% | $1,090/mo | $238K |
| Evansville, IN | 5.3% | $1,007/mo | $229K |
| Elkhart-Goshen, IN | 5.2% | $1,047/mo | $240K |
| Indianapolis-Carmel-Greenwood, IN | 5.2% | $1,273/mo | $291K |
| Chicago-Naperville-Elgin, IL-IN | 5.2% | $1,469/mo | $340K |
| Fort Wayne, IN | 5.2% | $1,056/mo | $246K |
| Louisville/Jefferson County, KY-IN | 5.1% | $1,140/mo | $266K |
| Cincinnati, OH-KY-IN | 5.0% | $1,203/mo | $289K |
| Lafayette-West Lafayette, IN | 4.9% | $1,126/mo | $275K |
| Bloomington, IN | 4.4% | $1,153/mo | $311K |
Frequently asked questions
What is the gross rental yield in Indiana?
In 2024, Indiana had a gross rental yield of 5.4% — $1,104/mo median gross rent against a $244K median home value. That ranks 12th of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which Indiana metros have the best rental yield?
Among Indiana metros covered by the data, gross yield was highest in Muncie, IN (7.3%), Terre Haute, IN (6.9%), and South Bend-Mishawaka, IN-MI (6.1%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in Indiana
Yield shows where the numbers work; our Investor Financing Report for Indiana shows the rate premium, denial rate, and DSCR lending investors face there.
Run a Indiana deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.