Fayette County, Indiana Housing Market
In Fayette County, Indiana, the median home value is $130,700, with a median monthly rent of $791. This places Fayette County at #2482 nationally out of 3134 counties by median home value, and #85 within Indiana.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $892
- Establishments: 393
- BLS QCEW, 2025
Housing Supply
- Single-family: 16
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 9,282 (avg $51,839)
- Outflow: 8,807 (avg $52,320)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 2 active ZIP codes in Fayette County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 47024 | 285.9 | +25.62% | 2024 |
| 2 | 47331 | 179.2 | +3.99% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Fayette County Compares
| Metric | Fayette County | Indiana Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $130,700 | $191,898 | $227,706 |
| Median Gross Rent | $791 | $910 | $968 |
| Owner Occupancy Rate | 72.1% | 76.3% | 73.3% |
| Price/Rent Ratio | 13.8 | 17.5 | 18.7 |
Market Analysis
The median home value in Fayette County is 31.9% below the Indiana state average and 42.6% below the U.S. national average. The median rent of $791/month is 13.1% below the state average.
With a price-to-rent ratio of 13.8, buying a home in Fayette County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Fayette County has an owner-occupancy rate of 72.1%, compared to 76.3% in Indiana and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Geneva County | Alabama | $130,700 | $784 |
| Fayette County | Illinois | $130,700 | $798 |
| Boyd County | Kentucky | $130,700 | $849 |
| Clark County | Missouri | $130,700 | $612 |
| Steele County | North Dakota | $130,700 | $738 |
Other Counties in Indiana
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Sullivan County | $131,100 | $829 | 76.4% |
| Cass County | $133,800 | $783 | 74.3% |
| Miami County | $126,200 | $838 | 76.2% |
| Knox County | $137,700 | $796 | 67.8% |
| Grant County | $122,300 | $853 | 72.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).