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Crawfordsville vs Elkhart for Rental Property Investing

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

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Crawfordsville wins 3–0 across key metrics
Crawfordsville leads on cash flow (3.27% vs 3.16% cap rate)
Metric
Crawfordsville, IN
Elkhart, IN
Est. Cap Rate
3.27%
3.16%
Median Home Price
$215,000
$255,000
Median Monthly Rent
$930
$1,080
1% Rule
0.43%
0.42%
GRM
19.3x
19.7x
Price / Income
3.5x
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

Crawfordsville vs Elkhart: Which Is Better for Investors?

Cash flow: Crawfordsville has the edge with an estimated cap rate of 3.27% 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 $215,000 in Crawfordsville vs $255,000 in Elkhart, while rents come in at $930/mo and $1,080/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.

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

Costs & risk: Property taxes are 0.84% in Crawfordsville 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: Crawfordsville offers a lower entry at $215K vs Elkhart's $255K — a difference of $40K. With a 20% down payment, that's $43K vs $51K. Crawfordsville combines the lower price with a higher cap rate — a compelling combination.

Bottom line: Crawfordsville edges out Elkhart on most key metrics. While cap rates are moderate at 3.27%, Crawfordsville's overall profile is stronger. Use our free calculators to model specific deals in Crawfordsville or Elkhart.

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Crawfordsville, IN
3.27% cap rate · $215,000 median · $930/mo
Full analysis →
Elkhart, IN
3.16% cap rate · $255,000 median · $1,080/mo
Full analysis →

Frequently Asked Questions

Is Crawfordsville or Elkhart better for rental investing?
Crawfordsville wins 3–0 across our 7 key metrics (cap rate, 1% rule, GRM, taxes, vacancy, growth, appreciation). Crawfordsville's 3.27% cap rate and $215K median price offer both higher returns and a lower entry point.
What is the cap rate difference between Crawfordsville and Elkhart?
Crawfordsville has a 3.27% cap rate vs Elkhart's 3.16% — a difference of 0.10 percentage points. This is a relatively small difference — other factors like growth, taxes, and local market conditions may matter more. 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 $235K property, that's a difference of approximately $336/year in tax expense — money that goes directly to (or from) your cash flow.
Which city is growing faster?
Crawfordsville is growing at 0.9% annually vs Elkhart's 0.9%. Moderate growth provides stable demand. Crawfordsville's appreciation rate of 2.6% also leads on home value growth.

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