Rental numbers for Elkhart County, IN
The typical home here runs -$974 a month at 7.78% with 25% down. 0 of 6 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.5%.
- Gross yield
- 5.1%
- typical home, Zillow
- Median ZIP yield
- 4.5%
- 6 ZIPs with full data
- Cash flow
- -$974/mo
- at 7.78%, 25% down
- Typical price
- $268,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,149/mo
- Zillow ZORI, Aug 2026
ZIP codes in Elkhart County
10 with published figures
| 46516Elkhart | $193,000 | $1,151 | 7.1% | 3.6% | -$455 | +7.4% |
| 46514Elkhart | $254,000 | $1,357 | 6.4% | 3.3% | -$679 | +9.3% |
| 46526Goshen | $269,000 | $1,038 | 4.6% | 1.5% | -$1,107 | n/a |
| 46517Elkhart | $247,000 | $907 | 4.4% | 1.4% | -$1,039 | n/a |
| 46507Bristol | $341,000 | $1,220* | 4.3% | 1.5% | -$1,400 | n/a |
| 46553New Paris | $311,000 | $1,090* | 4.2% | 1.4% | -$1,325 | n/a |
| 46528Goshen | $311,000 | $1,038 | 4.0% | 1.2% | -$1,371 | n/a |
| 46540Middlebury | $381,000 | $1,250* | 3.9% | 1.1% | -$1,688 | n/a |
| 46550Nappanee | $303,000 | $895 | 3.5% | 0.9% | -$1,405 | n/a |
| 46543Millersburg | $425,000 | $1,170* | 3.3% | 0.7% | -$2,052 | n/a |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +5.7%
- Rent, 12 months
- +5.5%
- Rent minus price growth
- -0.2 pts
- Property tax
- 0.82%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $203,983 | n/a |
| Aug 2022 | $230,899 | $1,022 |
| Aug 2023 | $236,260 | $1,002 |
| Aug 2024 | $241,952 | $1,040 |
| Aug 2025 | $253,942 | $1,089 |
| Aug 2026 | $268,393 | $1,149 |
HUD Fair Market Rent
FY2027, Elkhart-Goshen, IN MSA
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $1,008 | $1,048 | $1,253 | $1,653 | $1,752 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 6.1
- 443 units, last 12 months
- National percentile
- 54th
- among US counties
Tools
Test a listing in Elkhart County against today's rate.
Open the calculatorPart of the Elkhart, IN metro.
Questions
- Is Elkhart County good for rental property?
- The typical home here runs -$974 a month at 7.78% with 25% down. 0 of 6 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.5%. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Elkhart County?
- About 0.82% of value, from Census ACS median taxes paid over median home value. On a $268,000 home that is about $2,190 a year.
- What is Fair Market Rent in Elkhart County?
- HUD's FY2027 Fair Market Rent here is $1,048 for a 1-bedroom, $1,253 for a 2-bedroom and $1,653 for a 3-bedroom. Typical cash flow at today's rate is -$974 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.