Best Places to Buy Rental Property in Indiana (2026)

Gary is both the cheapest city on this list and the one where rent goes furthest against price: a $117,000 median closed price carries a $1,395 median asking rent, a gross yield of 14.3 percent. Indianapolis, the busiest market on the list with about 1107 closings a month, sits fifteenth of 20 at 7.7 percent. The median city on this list closed at $222,500, well below the Indiana statewide median of $278,000. The table shows the 20 highest-yielding markets among 47 Indiana cities meeting the coverage requirements; the yield range above describes the markets shown. A second table lists ten cities with enough closings to price but too few rental listings to rank.

The ranking

Gross yield here is an asking rental yield screen: twelve times the median asking rent over the median closed price, before taxes, insurance, vacancy, management or repairs. Sales use municipal boundaries. Rental listings use the associated city name and may cover a wider postal area. The ratio therefore compares related, but not perfectly matched, market samples, and a home bought at the median price does not necessarily earn the median rent. Confirmed-close medians appear where at least 30 confirmed lease closes were recorded in the window.

City by city

1. Gary, 14.3 percent gross

Homes in Gary closed at a median of $117,000 over the last six months and the median asking rent in the last twelve months was $1,395, a gross yield of 14.3 percent. Houses there closed at about $79 per square foot. See the Gary page for the property mix and the price band.

2. Hammond, 9.3 percent gross

Hammond ranks second on yield but only ninth on entry price: the $1,500 median asking rent is doing the work, not a cheap purchase. At $194,000 to buy and $1,500 a month to rent, Hammond yields 9.3 percent gross on 288 tracked closings. Houses there closed at about $135 per square foot. Full detail is on the Hammond market page.

3. South Bend, 9.0 percent gross

South Bend ranks third on yield but only eighth on entry price: the $1,350 median asking rent is doing the work, not a cheap purchase. Homes in South Bend closed at a median of $180,000 over the last six months and the median asking rent in the last twelve months was $1,350, a gross yield of 9.0 percent. Houses there closed at about $126 per square foot. The South Bend market page carries the monthly figures.

4. Marion, 8.3 percent gross

Homes in Marion closed at a median of $123,000 over the last six months and the median asking rent in the last twelve months was $852, a gross yield of 8.3 percent. The Marion market page carries the monthly figures.

5. Crown Point, 8.1 percent gross

Crown Point ranks fifth on yield but only sixteenth on entry price: the $2,200 median asking rent is doing the work, not a cheap purchase. Homes in Crown Point closed at a median of $324,896 over the last twelve months and the median asking rent in the last twelve months was $2,200, a gross yield of 8.1 percent. Full detail is on the Crown Point market page.

6. Muncie, 8.1 percent gross

Muncie moves fast, 10 days from listing to contract at the median, which matters more than its 8.1 percent yield if you cannot close quickly. The numbers: $148,950 median closed price across 552 closings, $1,000 median asking rent across 1,030 listings, 8.1 percent gross. Full detail is on the Muncie market page.

7. Danville, 8.0 percent gross

Rent is what puts Danville seventh here; on price alone it would sit seventeenth of 20. At $335,000 to buy and $2,247 a month to rent, Danville yields 8.0 percent gross on 153 tracked closings. Houses there closed at about $157 per square foot. The Danville market page carries the monthly figures.

8. Anderson, 8.0 percent gross

Homes in Anderson closed at a median of $150,000 over the last six months and the median asking rent in the last twelve months was $1,000, a gross yield of 8.0 percent. Houses there closed at about $94 per square foot. Full detail is on the Anderson market page.

9. Terre Haute, 7.9 percent gross

Terre Haute is cheaper than its yield rank suggests: fourth on price, ninth on yield, because a $144,000 home there rents for only $950. Homes in Terre Haute closed at a median of $144,000 over the last six months and the median asking rent in the last twelve months was $950, a gross yield of 7.9 percent. Houses there closed at about $99 per square foot. Full detail is on the Terre Haute market page.

10. Evansville, 7.9 percent gross

Evansville moves fast, 8 days from listing to contract at the median, which matters more than its 7.9 percent yield if you cannot close quickly. Homes in Evansville closed at a median of $167,000 over the last six months and the median asking rent in the last twelve months was $1,099, a gross yield of 7.9 percent. The Evansville market page carries the monthly figures.

11. Charlestown, 7.8 percent gross

Charlestown clears the rental bar narrowly, with 56 listings behind its $1,600 median, so its 7.8 percent yield deserves a wider margin of error than the bigger samples here. At $245,000 to buy and $1,600 a month to rent, Charlestown yields 7.8 percent gross on 152 tracked closings. Full detail is on the Charlestown market page.

12. Whitestown, 7.8 percent gross

Whitestown ranks twelfth on yield but only nineteenth on entry price: the $2,440 median asking rent is doing the work, not a cheap purchase. At $375,085 to buy and $2,440 a month to rent, Whitestown yields 7.8 percent gross on 253 tracked closings. The Whitestown market page carries the monthly figures.

13. New Castle, 7.8 percent gross

A low entry price does not carry New Castle far: it is third cheapest on this list and thirteenth on yield, with rent of $905 against a $139,950 median price. The numbers: $139,950 median closed price across 264 closings, $905 median asking rent across 144 listings, 7.8 percent gross. Houses there closed at about $89 per square foot. Full detail is on the New Castle market page.

14. Seymour, 7.7 percent gross

Seymour is cheaper than its yield rank suggests: tenth on price, fourteenth on yield, because a $200,000 home there rents for only $1,286. At $200,000 to buy and $1,286 a month to rent, Seymour yields 7.7 percent gross on 247 tracked closings. Houses there closed at about $135 per square foot. See the Seymour page for the property mix and the price band.

15. Indianapolis, 7.7 percent gross

Homes in Indianapolis closed at a median of $250,000 over the last six months and the median asking rent in the last twelve months was $1,600, a gross yield of 7.7 percent. Houses there closed at about $142 per square foot. The Indianapolis market page carries the monthly figures.

16. Greenwood, 7.6 percent gross

The numbers: $300,000 median closed price across 487 closings, $1,900 median asking rent across 968 listings, 7.6 percent gross. Houses there closed at about $162 per square foot. See the Greenwood page for the property mix and the price band.

17. Brownsburg, 7.5 percent gross

The numbers: $340,000 median closed price across 324 closings, $2,129 median asking rent across 301 listings, 7.5 percent gross. See the Brownsburg page for the property mix and the price band.

18. Jeffersonville, 7.5 percent gross

Jeffersonville is cheaper than its yield rank suggests: thirteenth on price, eighteenth on yield, because a $265,000 home there rents for only $1,650. The numbers: $265,000 median closed price across 469 closings, $1,650 median asking rent across 396 listings, 7.5 percent gross. The Jeffersonville market page carries the monthly figures.

19. Greenfield, 7.4 percent gross

A low entry price does not carry Greenfield far: it is fourteenth cheapest on this list and nineteenth on yield, with rent of $1,715 against a $277,250 median price. Homes in Greenfield closed at a median of $277,250 over the last six months and the median asking rent in the last twelve months was $1,715, a gross yield of 7.4 percent. Full detail is on the Greenfield market page.

20. McCordsville, 7.4 percent gross

The numbers: $397,990 median closed price across 279 closings, $2,456 median asking rent across 127 listings, 7.4 percent gross. Houses there closed at about $161 per square foot. See the McCordsville page for the property mix and the price band.

Priced, but too few rentals to rank

These cities cleared 100 tracked closings but fewer than 50 rental listings carried their name in the last twelve months, so no yield is printed for them.

How this ranking is built

• •Cities: every Indiana city where Resideline tracked at least 100 closings inside the municipal boundary in its reporting window (six or twelve months) and at least 50 rental listings under the city's name since September 10, 2025: 47 cities qualify and the table shows the 20 highest-yielding.
• •Prices: the median price homes closed at inside the city limits, from Resideline's tracked closings; the state comparison uses the statewide median of $278,000 across 51,621 closings.
• •Rents: the median advertised rent on rental listings Resideline tracked in the last twelve months, all property types, measured on the listings that carry the city's name (a postal footprint, wider than the city line in some places).
• •Confirmed-close medians: Observed rent blends two kinds of record: confirmed lease closes extracted from property records, and the final asking rent on listings that left Resideline tracking without a recorded close. Where a city has at least 30 confirmed closes in the window, their median is printed beside the asking figure; in the last twelve months about a quarter of Resideline's close episodes are confirmed closes. The asking and confirmed-close samples are separate, not paired, so a difference between their medians is not a measured gap on the same listings.
• •What is missing: taxes, insurance, vacancy, management and repairs, which turn a gross yield into a net one, and the unit mix, which differs between what sells and what rents.

Sources and related pages

• •Resideline tracked closings inside city limits (window per city, updated September 10, 2026) and rental listings since September 10, 2025; confirmed lease closes extracted from property records.
• •More Indiana rankings: Cheapest cities to buy a house in Indiana ranks the same kind of list with each city's price per square foot for houses, realized appreciation and days to contract beside the median, and Cap Rate by City ranks the Indiana cities Resideline tracks by gross rental yield. The Indiana housing market hub carries the statewide figures and the largest Indiana markets by closings.
• •Asking rent vs observed rent compares live asking rents with final asking rents under that study's own definition; it says nothing about confirmed lease closes.

Prepared with Resideline's research pipeline and reviewed by Jeffrey Batista, Resideline's founder.