Fayette County, Indiana Housing Market Prices
Fayette County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 54% below the Indiana median Cheaper than 80% of counties in Indiana$65,723
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Median rent 26% below the Indiana median Cheaper than 79% of counties in Indiana$790
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Fayette County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $65,723 | $142,738 | $248,835 |
| Price Trend (Annual %) | 4.7% | 7.2% | 7.5% |
| Median Gross Rent | $790 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 2.3% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fayette County is about 54% lower than in Indiana. Rent is about 26% lower than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Fayette County, up about 4.7% and 2.3% a year respectively. Home prices are changing faster.
Median rent in Fayette County rose about 22.2% between 2015 and 2024, from $647 to $790. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Fayette County.
Buying the median-priced home in Fayette County costs roughly 6.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fayette County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Fayette County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $65,723 | $142,738 | $248,835 |
| Median Household Income | $59,417 | $71,967 | $80,455 |
| Price-to-Income Ratio | 1.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Fayette County rose about 46.7%, while median household income rose about 47.4% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Fayette County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.3% | 64.4% | 58.5% |
| Rental Rate | 24.1% | 26.9% | 31.2% |
| Vacancy Rate | 13.6% | 8.8% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Fayette County has a homeownership rate of 62.3%, lower than the Indiana average of 64.4%. Its housing vacancy rate is 13.6%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Fayette County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1960 | 1975 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Fayette County was built around 1960. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 16.0 years on average.
Fayette County, IN Housing Compared With Nearby Counties
How Fayette County, IN compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Fayette County, IN | 23,334 | $65,723 #2/3 | $790 #3/3 | 72.1% #2/3 |
| Wayne County, IN | 66,397 | $62,500 | $815 | 69.2% |
| Henry County, IN | 48,970 | $74,928 | $820 | 76.2% |
Frequently Asked Questions
Common questions about the housing market in Fayette County, Indiana.
What is the median home price in Fayette County, Indiana?
The median home price in Fayette County, Indiana is $65,723, lower than the Indiana average of $142,738.
What is the average home price in Fayette County, Indiana?
The typical home price in Fayette County, Indiana, reported as the median sale price, is $65,723. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Fayette County, Indiana?
The median gross rent in Fayette County, Indiana is $790 per month, lower than the Indiana average of $1,062.
What was the median gross rent in Fayette County in 2020?
In 2020, the median gross rent in Fayette County, Indiana was $701 per month.
What is the price-to-rent ratio in Fayette County, Indiana?
The price-to-rent ratio in Fayette County, Indiana is about 6.9, meaning it would take roughly 6.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Fayette County.
Are home prices or rent rising faster in Fayette County, Indiana?
Both home prices and rent are rising in Fayette County, up about 4.7% and 2.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fayette County, Indiana?
62.3% of households in Fayette County, Indiana own their home, lower than the Indiana average of 64.4%.
What is the vacancy rate in Fayette County, Indiana?
The housing vacancy rate in Fayette County, Indiana is 13.6%, higher than the Indiana average of 8.8%.
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