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 $119,950 median closed price carries a $1,395 median asking rent, a gross yield of 14.0 percent. Indianapolis, the busiest market on the list with about 1118 closings a month, sits sixteenth of 20 at 7.7 percent. The median city on this list closed at $196,750, well below the Indiana statewide median of $279,000. The table shows the 20 highest-yielding markets among 49 Indiana cities meeting the coverage requirements; the yield range above describes the markets shown. A second table lists seven 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, 14.0 percent gross

Homes in Gary closed at a median of $119,950 over the last six months and the median asking rent in the last twelve months was $1,395, a gross yield of 14.0 percent. Houses there closed at about $81 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 tenth 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 279 tracked closings. Houses there closed at about $135 per square foot. Full detail is on the Hammond market page.

3. South Bend, 8.9 percent gross

South Bend ranks third on yield but only ninth 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 $182,750 over the last six months and the median asking rent in the last twelve months was $1,350, a gross yield of 8.9 percent. Houses there closed at about $128 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 $126,875 over the last six months and the median asking rent in the last twelve months was $875, a gross yield of 8.3 percent. The Marion market page carries the monthly figures.

5. Anderson, 8.2 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 $1,024, a gross yield of 8.2 percent. Houses there closed at about $94 per square foot. Full detail is on the Anderson market page.

6. Logansport, 8.1 percent gross

Logansport's rental sample is 70 percent apartments and condos while its sales are mostly houses, so the $998 asking median understates what a house rents for there. The numbers: $147,500 median closed price across 169 closings, $998 median asking rent across 50 listings, 8.1 percent gross. Houses there closed at about $99 per square foot. See the Logansport page for the property mix and the price band.

7. Muncie, 8.1 percent gross

The numbers: $148,900 median closed price across 514 closings, $1,000 median asking rent across 1,133 listings, 8.1 percent gross. Full detail is on the Muncie market page.

8. Crown Point, 8.0 percent gross

Crown Point ranks eighth on yield but only seventeenth 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 $329,246 over the last twelve months and the median asking rent in the last twelve months was $2,200, a gross yield of 8.0 percent. Full detail is on the Crown Point market page.

9. New Castle, 8.0 percent gross

A low entry price does not carry New Castle far: it is third cheapest on this list and ninth on yield, with rent of $900 against a $135,000 median price. The numbers: $135,000 median closed price across 256 closings, $900 median asking rent across 152 listings, 8.0 percent gross. Houses there closed at about $87 per square foot. Full detail is on the New Castle market page.

10. Whitestown, 7.8 percent gross

Whitestown ranks tenth on yield but only twentieth on entry price: the $2,450 median asking rent is doing the work, not a cheap purchase. At $375,000 to buy and $2,450 a month to rent, Whitestown yields 7.8 percent gross on 255 tracked closings. The Whitestown market page carries the monthly figures.

11. Danville, 7.8 percent gross

Rent is what puts Danville eleventh here; on price alone it would sit eighteenth of 20. At $337,687 to buy and $2,195 a month to rent, Danville yields 7.8 percent gross on 264 tracked closings. Houses there closed at about $156 per square foot. The Danville market page carries the monthly figures.

12. Evansville, 7.8 percent gross

A low entry price does not carry Evansville far: it is eighth cheapest on this list and twelfth on yield, with rent of $1,099 against a $170,000 median price. Homes in Evansville closed at a median of $170,000 over the last six months and the median asking rent in the last twelve months was $1,099, a gross yield of 7.8 percent. Houses there closed at about $121 per square foot. The Evansville market page carries the monthly figures.

13. Charlestown, 7.8 percent gross

Charlestown clears the rental bar narrowly, with 62 listings behind its $1,600 median, so its 7.8 percent yield deserves a wider margin of error than the bigger samples here. At $247,500 to buy and $1,600 a month to rent, Charlestown yields 7.8 percent gross on 148 tracked closings. Full detail is on the Charlestown market page.

14. Seymour, 7.7 percent gross

Read Seymour's $1,286 rent as an apartment figure: 78 percent of its listings are apartments or condos. At $199,500 to buy and $1,286 a month to rent, Seymour yields 7.7 percent gross on 229 tracked closings. Houses there closed at about $133 per square foot. See the Seymour page for the property mix and the price band.

15. Terre Haute, 7.7 percent gross

Terre Haute is cheaper than its yield rank suggests: fifth on price, fifteenth on yield, because a $148,000 home there rents for only $950. Homes in Terre Haute closed at a median of $148,000 over the last six months and the median asking rent in the last twelve months was $950, a gross yield of 7.7 percent. Houses there closed at about $98 per square foot. Full detail is on the Terre Haute market page.

16. 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.

17. Greenwood, 7.6 percent gross

The numbers: $299,000 median closed price across 475 closings, $1,899 median asking rent across 993 listings, 7.6 percent gross. Houses there closed at about $160 per square foot. See the Greenwood page for the property mix and the price band.

18. Jeffersonville, 7.6 percent gross

Jeffersonville is cheaper than its yield rank suggests: fourteenth on price, eighteenth on yield, because a $268,000 home there rents for only $1,695. The numbers: $268,000 median closed price across 461 closings, $1,695 median asking rent across 414 listings, 7.6 percent gross. The Jeffersonville market page carries the monthly figures.

19. Brownsburg, 7.5 percent gross

The numbers: $340,000 median closed price across 309 closings, $2,130 median asking rent across 299 listings, 7.5 percent gross. See the Brownsburg page for the property mix and the price band.

20. Greenfield, 7.4 percent gross

A low entry price does not carry Greenfield far: it is fifteenth cheapest on this list and twentieth on yield, with rent of $1,720 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 $1,720, a gross yield of 7.4 percent. Full detail is on the Greenfield market page.

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 October 3, 2025: 49 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 $279,000 across 49,726 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 October 4, 2026) and rental listings since October 3, 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.