Is Carroll County, IN good for real estate investing?

Carroll County has an investment score of 70/100, rated as "Buy". The county ranks #148 nationally among 1000 counties analyzed.

What is the rent-to-price ratio in Carroll?

The rent-to-price ratio in Carroll County is 7.25% annually, which ranks in the 82th percentile nationally. Higher ratios indicate better cash flow potential.

What is the median home price in Carroll?

The median home price in Carroll County is $226,254. This ranks #328 in affordability among all US counties.

Can you cash flow on rental properties in Carroll?

Based on median values with 20% down at current rates, a typical rental in Carroll County would generate negative cash flow of $298/month. Individual property performance varies based on purchase price, rent, and operating expenses.

Carroll County

IndianaPopulation: 20,397

/100

Buy

#148 of 1,000 counties

#45 in Indiana (92 counties)

Market Snapshot

$226,254

Median Home Price

17% below national median

$1,366/mo

Median Rent

9% below national median

7.25%

Rent-to-Price Ratio

Top 18% nationally

-$298

Est. Monthly Cash Flow

With 20% down at 6.9% rate

Price History

Trend based on YoY growth rate. Source: Zillow ZHVI/ZORI

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$226,254

Down Payment (20%)$45,251

Loan Amount$181,003

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,366

Monthly P&I-$1,186

Est. Expenses (35%)-$478

Net Cash Flow-$298/mo

4.7%

Cap Rate (all cash)

-6.9%

Cash-on-Cash Return

7.25%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 4.7% cap rate. All-cash buyers may see better returns.

* Based on county median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Actual results vary by property.

Run Full Analysis Try House Hack Strategy

Score Breakdown

Overall Investment Score

70/100

Cash Flow(30%)

72/100

Based on 7.25% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

83/100

Based on 4.1% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

75/100

Price-to-income ratio of 3.7x. Lower ratios indicate more affordable markets.

Scores are calculated using real Zillow home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. Markets with missing rent data use estimated values based on regional averages.

Investment Outlook

Strengths

+Above-average rent-to-price ratio (7.25%)
+Affordable relative to local incomes
+Complete rent data available

Challenges

-Negative cash flow at typical financing (-$298/mo)
-Negative leverage (cap rate 4.7% < mortgage rate 6.9%)

Economic Indicators

Population

20,397

Median Income

$61,464

vs $62,400 national est.

Unemployment Rate

—

Data pending

Price-to-Income

3.7x

Moderately affordable

Compare to Nearby Counties

County					Verdict
Saint JosephIN	71	$214,936	$1,333	7.44%	Buy	View
CurrentCarrollIN	70	$226,254	$1,366	7.25%	Buy
WarrickIN	70	$282,438	$1,544	6.56%	Buy	View
WayneIN	70	$165,210	$801	5.82%	Buy	View
FranklinIN	70	$288,626	Est. pending	—	Buy	View
VanderburghIN	69	$191,610	$1,018	6.37%	Buy	View

The Bottom Line

BuyCarroll offers solid investment potential with good cash flow or appreciation prospects.

Carroll County in Indiana scores 70/100, ranking #148 of 1,000 US counties (top 15%). The 7.25% rent-to-price ratio indicates moderate cash flow potential.

Monthly Cash Flow

$-298/mo

Cap Rate

4.7%

Cash-on-Cash

-6.9%

Ready to Analyze a Deal in Carroll?

Use our investment calculators to run detailed numbers on specific properties.

Single Family1-4 unit rentals, BRRRR House HackOwner-occupied strategy Multifamily5+ unit properties

Explore Other Markets

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$226,254

Down Payment (20%)$45,251

Loan Amount$181,003

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,366

Monthly P&I-$1,186

Est. Expenses (35%)-$478

Net Cash Flow-$298/mo

4.7%

Cap Rate (all cash)

-6.9%

Cash-on-Cash Return

7.25%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 4.7% cap rate. All-cash buyers may see better returns.

* Based on county median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Actual results vary by property.

Run Full Analysis Try House Hack Strategy

Score Breakdown

Overall Investment Score

70/100

Cash Flow(30%)

72/100

Based on 7.25% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

83/100

Based on 4.1% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

75/100

Price-to-income ratio of 3.7x. Lower ratios indicate more affordable markets.

County

Verdict

Saint JosephIN

$214,936

$1,333

7.44%

Buy

View

CurrentCarrollIN

$226,254

$1,366

7.25%

Buy

WarrickIN

$282,438

$1,544

6.56%

Buy

View

WayneIN

$165,210

$801

5.82%

Buy

View

FranklinIN

$288,626

Est. pending

—

Buy

View

VanderburghIN

$191,610

$1,018

6.37%

Buy

View

The Bottom Line

BuyCarroll offers solid investment potential with good cash flow or appreciation prospects.

Carroll County in Indiana scores 70/100, ranking #148 of 1,000 US counties (top 15%). The 7.25% rent-to-price ratio indicates moderate cash flow potential.

Monthly Cash Flow

$-298/mo

Cap Rate

4.7%

Cash-on-Cash

-6.9%