Side-by-side comparison of Richmond, IN and Terre Haute, IN — cap rates, rent, prices, and investment metrics.
Cash flow: Terre Haute has the edge with an estimated cap rate of 5.23% compared to Richmond's 4.13%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $165,000 in Richmond vs $160,000 in Terre Haute, while rents come in at $840/mo and $970/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.
Growth & appreciation: Richmond is growing faster at 0.9% annually vs Terre Haute's 0.9%. Richmond leads on home value appreciation at 2.6% per year.
Costs & risk: Property taxes are 0.84% in Richmond vs 0.84% in Terre Haute. Vacancy rates of 5.5% and 5.5% are both healthy, suggesting strong tenant demand in both markets.
Entry point: Terre Haute offers a lower entry at $160K vs Richmond's $165K — a difference of $5K. With a 20% down payment, that's $32K vs $33K. Terre Haute combines the lower price with a higher cap rate — a compelling combination.
Bottom line: Terre Haute edges out Richmond on most key metrics. With a 5.23% cap rate, it offers solid cash flow potential. Use our free calculators to model specific deals in Richmond or Terre Haute.