Updated 2026 · Based on median market data for Indiana, PA
The median monthly rent in Indiana, PA is $860, translating to $10,320 in annual gross rental income per unit. The rent-to-price ratio is 0.55% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Indiana spend approximately 22% of the local median household income ($47,800) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. Tenants can afford to pay more, which is bullish for landlords.
The vacancy rate in Indiana is 6%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.2% annually provides stable demand.
Indiana's GRM (price divided by annual rent) is 15.0x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $860/mo, a single-family rental in Indiana generates approximately $10,320 in gross annual income. After accounting for 6% vacancy ($619 lost), property taxes of $2,139, insurance (~$620), and maintenance (~$620), the estimated NOI is $6,322 per year, or $527/mo.
Indiana vs Pennsylvania state average and national average across key investment metrics. Indiana outperforms both benchmarks on cap rate.