Rental Markets in Indiana
DoorBase tracks rental market data across Indiana by ZIP code. This state page is a crawlable index for investors comparing rents, cap-rate estimates, vacancy, demographics, home values, renter share, household income, and employment conditions before drilling into individual ZIP pages.
Indiana Rental Market Overview
The current sample of indexable Indiana ZIP markets shows average median rent of $1,411, average median home value of $274,459, average cap-rate high of 4.7%, average vacancy of 7.5%, renter ratio near 32.7%, and median household income around $74,458. These statewide figures are directional and should be used to compare markets before reviewing a specific ZIP code.
Indiana is not one rental market. Large cities, inner suburbs, commuter towns, college markets, rural counties, resort areas, and industrial corridors can produce very different rent levels and ownership economics. DoorBase keeps the canonical content at the ZIP level so investors can move from a broad state view into the most precise local data available.
Featured Indiana ZIP Markets
| ZIP | City | Rent | Cap Rate | Vacancy | Population |
|---|
| 47906 |
West Lafayette |
$1,858 |
2.8-4.4% |
8.3% |
74,283 |
| 46307 |
Crown Point |
$1,782 |
2.8-4.4% |
2.8% |
71,418 |
| 46143 |
Greenwood |
$1,624 |
2.7-4.3% |
5.1% |
58,238 |
| 46227 |
Indianapolis |
$1,284 |
3.3-4.9% |
9.7% |
57,164 |
| 46032 |
Carmel |
$1,752 |
1.4-3% |
7.3% |
51,181 |
| 47150 |
New Albany |
$1,161 |
2.7-4.3% |
10.8% |
49,606 |
| 47130 |
Jeffersonville |
$1,298 |
2.9-4.5% |
9.2% |
49,192 |
| 47201 |
Columbus |
$1,379 |
2.8-4.4% |
5.9% |
48,602 |
| 46060 |
Noblesville |
$1,750 |
2.7-4.3% |
6.7% |
47,514 |
| 46074 |
Westfield |
$1,962 |
2-3.6% |
4.1% |
46,042 |
| 46226 |
Indianapolis |
$1,239 |
4.7-6.3% |
9.1% |
45,640 |
| 47374 |
Richmond |
$892 |
3.1-4.7% |
13.5% |
45,186 |
| 46350 |
La Porte |
$1,206 |
2.3-3.9% |
9.2% |
45,152 |
| 46360 |
Michigan City |
$1,117 |
2.6-4.2% |
15.3% |
43,997 |
| 46038 |
Fishers |
$1,803 |
2.6-4.2% |
4.5% |
43,245 |
| 47909 |
Lafayette |
$1,597 |
3.3-4.9% |
3.3% |
42,971 |
| 46140 |
Greenfield |
$1,634 |
3.2-4.8% |
3.4% |
42,927 |
| 46237 |
Indianapolis |
$1,695 |
3.9-5.5% |
2.9% |
42,747 |
| 46112 |
Brownsburg |
$1,951 |
3.1-4.7% |
3.3% |
42,491 |
| 46383 |
Valparaiso |
$1,346 |
2-3.6% |
6.3% |
42,464 |
| 46123 |
Avon |
$1,831 |
2.9-4.5% |
3.9% |
42,395 |
| 47905 |
Lafayette |
$1,308 |
2.4-4% |
4.8% |
42,109 |
| 46514 |
Elkhart |
$1,357 |
3.1-4.7% |
8.6% |
41,480 |
| 46385 |
Valparaiso |
$1,685 |
2.4-4% |
4.2% |
41,390 |
| 46254 |
Indianapolis |
$1,274 |
3.3-4.9% |
5.2% |
40,263 |
| 46368 |
Portage |
$1,484 |
3.1-4.7% |
6% |
40,237 |
| 46033 |
Carmel |
$2,263 |
2-3.6% |
3.1% |
40,153 |
| 47401 |
Bloomington |
$1,590 |
2.5-4.1% |
9.6% |
40,084 |
| 46224 |
Indianapolis |
$1,086 |
3.1-4.7% |
9.2% |
39,858 |
| 47630 |
Newburgh |
$1,606 |
2.8-4.4% |
4% |
39,461 |
| 46168 |
Plainfield |
$1,707 |
2.9-4.5% |
3.6% |
38,889 |
| 46410 |
Merrillville |
$1,553 |
3.8-5.4% |
5.4% |
38,803 |
| 46217 |
Indianapolis |
$1,574 |
3.6-5.2% |
2.5% |
38,659 |
| 46901 |
Kokomo |
$1,000 |
3.5-5.1% |
13% |
38,254 |
| 46219 |
Indianapolis |
$1,081 |
3.4-5% |
9.1% |
38,246 |
| 46222 |
Indianapolis |
$1,217 |
6.2-7.8% |
15% |
37,608 |
| 46835 |
Fort Wayne |
$1,224 |
2.5-4.1% |
3.2% |
37,589 |
| 46203 |
Indianapolis |
$1,469 |
5.5-7.1% |
15.7% |
37,297 |
| 46902 |
Kokomo |
$1,170 |
3.3-4.9% |
11.1% |
36,640 |
| 46220 |
Indianapolis |
$1,429 |
2.2-3.8% |
5.1% |
36,159 |
| 46235 |
Indianapolis |
$1,797 |
5.1-6.7% |
11.6% |
35,897 |
| 46131 |
Franklin |
$1,742 |
3.6-5.2% |
5.7% |
35,502 |
| 46077 |
Zionsville |
$1,858 |
1.1-2.7% |
2.7% |
35,378 |
| 46142 |
Greenwood |
$1,490 |
2.6-4.2% |
3.9% |
35,368 |
| 46260 |
Indianapolis |
$1,269 |
2.2-3.8% |
8.7% |
35,102 |
| 47403 |
Bloomington |
$1,307 |
2.6-4.2% |
6.9% |
34,410 |
| 46526 |
Goshen |
$1,038 |
2-3.6% |
9.1% |
33,527 |
| 46239 |
Indianapolis |
$1,995 |
4.1-5.7% |
4.9% |
33,403 |
| 47802 |
Terre Haute |
$925 |
2.5-4.1% |
8.3% |
33,192 |
| 47714 |
Evansville |
$1,062 |
4.5-6.1% |
11.8% |
33,148 |
| 46241 |
Indianapolis |
$1,341 |
5.3-6.9% |
8.7% |
32,943 |
| 47274 |
Seymour |
$1,175 |
2.8-4.4% |
8.5% |
32,786 |
| 46342 |
Hobart |
$1,331 |
3.2-4.8% |
7.1% |
32,525 |
| 46151 |
Martinsville |
$1,202 |
2.1-3.7% |
7.3% |
32,339 |
| 46516 |
Elkhart |
$1,151 |
3.5-5.1% |
15.3% |
31,959 |
| 46530 |
Granger |
$2,177 |
2.9-4.5% |
3.9% |
31,907 |
| 46201 |
Indianapolis |
$1,208 |
4.9-6.5% |
19.1% |
31,650 |
| 47304 |
Muncie |
$1,177 |
3.1-4.7% |
5.7% |
31,432 |
| 46544 |
Mishawaka |
$1,219 |
3.3-4.9% |
7.7% |
31,138 |
| 47711 |
Evansville |
$970 |
2.9-4.5% |
10.2% |
30,793 |
Notable ZIP Markets in This Sample
The highest estimated cap-rate band in this sample tops out at 8.9% in ZIP 46218 (Indianapolis).
The lowest vacancy in this sample is 1.8% in ZIP 46845 (Fort Wayne).
The highest median rent in this sample is $2,263 in ZIP 46033 (Carmel).
The highest median household income in this sample is $160,868 in ZIP 46077 (Zionsville).
Rental Markets by City
Indianapolis
Indianapolis has 19 ZIP codes in this sample. Median rents range from $1,081 to $2,101. Estimated cap-rate bands reach up to 8.9% at the high end. Vacancy averages 9.5%. See ZIP 46227 for the full market profile.
Fort Wayne
Fort Wayne has 5 ZIP codes in this sample. Median rents range from $1,224 to $1,858. Estimated cap-rate bands reach up to 5.7% at the high end. Vacancy averages 3.6%. See ZIP 46835 for the full market profile.
Evansville
Evansville has 3 ZIP codes in this sample. Median rents range from $970 to $1,250. Estimated cap-rate bands reach up to 6.1% at the high end. Vacancy averages 9.6%. See ZIP 47714 for the full market profile.
Greenwood
Greenwood has 2 ZIP codes in this sample. Median rents range from $1,490 to $1,624. Estimated cap-rate bands reach up to 4.3% at the high end. Vacancy averages 4.5%. See ZIP 46143 for the full market profile.
Carmel
Carmel has 2 ZIP codes in this sample. Median rents range from $1,752 to $2,263. Estimated cap-rate bands reach up to 3.6% at the high end. Vacancy averages 5.2%. See ZIP 46032 for the full market profile.
Lafayette
Lafayette has 2 ZIP codes in this sample. Median rents range from $1,308 to $1,597. Estimated cap-rate bands reach up to 4.9% at the high end. Vacancy averages 4.0%. See ZIP 47909 for the full market profile.
Valparaiso
Valparaiso has 2 ZIP codes in this sample. Median rents range from $1,346 to $1,685. Estimated cap-rate bands reach up to 4.0% at the high end. Vacancy averages 5.3%. See ZIP 46383 for the full market profile.
Kokomo
Kokomo has 2 ZIP codes in this sample. Median rents range from $1,000 to $1,170. Estimated cap-rate bands reach up to 5.1% at the high end. Vacancy averages 12.1%. See ZIP 46901 for the full market profile.
Bloomington
Bloomington has 2 ZIP codes in this sample. Median rents range from $1,307 to $1,590. Estimated cap-rate bands reach up to 4.2% at the high end. Vacancy averages 8.3%. See ZIP 47401 for the full market profile.
Elkhart
Elkhart has 2 ZIP codes in this sample. Median rents range from $1,151 to $1,357. Estimated cap-rate bands reach up to 5.1% at the high end. Vacancy averages 11.9%. See ZIP 46514 for the full market profile.
Goshen
Goshen has 2 ZIP codes in this sample. Sample median rent is $1,038. Estimated cap-rate bands reach up to 3.6% at the high end. Vacancy averages 7.9%. See ZIP 46526 for the full market profile.
Mishawaka
Mishawaka has 2 ZIP codes in this sample. Median rents range from $1,219 to $1,249. Estimated cap-rate bands reach up to 4.9% at the high end. Vacancy averages 8.4%. See ZIP 46544 for the full market profile.
How to Use the Indiana Directory
Start with the state page to understand the range of rental markets, then open individual ZIP pages for the numbers that matter most to underwriting. A state average can hide important local differences. One ZIP may have stronger rent growth and lower vacancy while a nearby ZIP has better purchase prices but weaker renter demand.
The most useful investor workflow is to compare rent, cap rate, vacancy, home value, renter ratio, household income, population growth, unemployment, and job growth together. No single number is enough. A high cap-rate estimate can be offset by weak income, high vacancy, or limited tenant demand. A lower cap-rate estimate can still make sense if the market has strong income, job growth, and durable renter demand.
State Coverage and Internal Links
This page links into the canonical ZIP URL structure, such as /rentals/in/30318, without bringing back city parent pages. That structure keeps DoorBase clean for search engines: state pages organize the directory, ZIP pages hold the canonical data, and future market guides can exist separately as heavier editorial SEO hubs.
DoorBase currently tracks 80 sampled ZIP markets across 46 Indiana cities in this crawlable state summary. The live React page may show a broader interactive directory after JavaScript loads, while this fallback body ensures crawlers receive meaningful text and links immediately.
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