%
CapRateCity
Free cap rate calculators for every US market
← All comparisons

Connersville vs Elkhart for Rental Property Investing

Side-by-side comparison of Connersville, IN and Elkhart, IN — cap rates, rent, prices, and investment metrics.

◉
Connersville wins 3–0 across key metrics
Connersville leads on cash flow (4.21% vs 3.16% cap rate)
Metric
Connersville, IN
Elkhart, IN
Est. Cap Rate
4.21%
3.16%
Median Home Price
$155,000
$255,000
Median Monthly Rent
$800
$1,080
1% Rule
0.52%
0.42%
GRM
16.1x
19.7x
Price / Income
2.5x
4.2x
Property Tax Rate
0.84%
0.84%
Vacancy Rate
5.5%
5.5%
Population Growth
0.9% / yr
0.9% / yr
Annual Appreciation
2.6%
2.6%
Population
50,000
50,000
Median Income
$60,888
$60,888

Connersville vs Elkhart: Which Is Better for Investors?

Cash flow: Connersville has the edge with an estimated cap rate of 4.21% compared to Elkhart's 3.16%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $155,000 in Connersville vs $255,000 in Elkhart, while rents come in at $800/mo and $1,080/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.

Growth & appreciation: Connersville is growing faster at 0.9% annually vs Elkhart's 0.9%. Connersville leads on home value appreciation at 2.6% per year.

Costs & risk: Property taxes are 0.84% in Connersville vs 0.84% in Elkhart. Vacancy rates of 5.5% and 5.5% are both healthy, suggesting strong tenant demand in both markets.

Entry point: Connersville offers a lower entry at $155K vs Elkhart's $255K — a difference of $100K. With a 20% down payment, that's $31K vs $51K. Connersville combines the lower price with a higher cap rate — a compelling combination.

Bottom line: Connersville edges out Elkhart on most key metrics. While cap rates are moderate at 4.21%, Connersville's overall profile is stronger. Use our free calculators to model specific deals in Connersville or Elkhart.

Sponsored · Want to analyze a specific property? DealCheck imports real listing data and runs the full analysis for you.
Try Free →
Connersville, IN
4.21% cap rate · $155,000 median · $800/mo
Full analysis →
Elkhart, IN
3.16% cap rate · $255,000 median · $1,080/mo
Full analysis →

Frequently Asked Questions

Is Connersville or Elkhart better for rental investing?
Connersville wins 3–0 across our 7 key metrics (cap rate, 1% rule, GRM, taxes, vacancy, growth, appreciation). Connersville's 4.21% cap rate and $155K median price offer both higher returns and a lower entry point.
What is the cap rate difference between Connersville and Elkhart?
Connersville has a 4.21% cap rate vs Elkhart's 3.16% — a difference of 1.05 percentage points. This is a significant gap that meaningfully impacts cash flow. For context, the national average is 3.81%.
Which city has lower property taxes?
Elkhart has lower property taxes at 0.84% vs 0.84%. On a $205K property, that's a difference of approximately $840/year in tax expense — money that goes directly to (or from) your cash flow.
Which city is growing faster?
Connersville is growing at 0.9% annually vs Elkhart's 0.9%. Moderate growth provides stable demand. Connersville's appreciation rate of 2.6% also leads on home value growth.

Explore More

vs Angola, IN →vs Columbus, IN →vs Crawfordsville, IN →vs Crawfordsville, IN →All Indiana Markets →4% – 5% Cap Rate Cities →3% – 4% Cap Rate Cities →Best Price-to-Income Ratio →
The CapRateCity Report
Weekly market analysis: highest cap rate cities, emerging markets, and deal breakdowns. Free, no spam.