Is Steuben County, IN good for real estate investing?

Steuben County has an investment score of 55/100, rated as "Hold". The county ranks #459 nationally among 1000 counties analyzed.

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

The rent-to-price ratio in Steuben County is 3.97% annually, which ranks in the 6th percentile nationally. Higher ratios indicate better cash flow potential.

What is the median home price in Steuben?

The median home price in Steuben County is $313,148. This ranks #694 in affordability among all US counties.

Can you cash flow on rental properties in Steuben?

Based on median values with 20% down at current rates, a typical rental in Steuben County would generate negative cash flow of $968/month. Individual property performance varies based on purchase price, rent, and operating expenses.

Steuben County

IndianaPopulation: 34,507

/100

Hold

#459 of 1,000 counties

#83 in Indiana (92 counties)

Analysis by RentalCalcs ResearchIndependent data + algorithm-driven scoring

Updated May 11, 2026Sources: Zillow ZHVI, Zillow ZORI, US Census ACS, Tax Foundation

Market Snapshot

$313,148

Median Home Price

34% above national median

$1,036/mo

Median Rent

31% below national median

3.97%

Rent-to-Price Ratio

Top 94% nationally

-$968

Est. Monthly Cash Flow

With 20% down at 6.9% rate

Scenario comparison

Same $1,036/mo rent assumption, 20% down, 6.85% rate. What changes is the acquisition price.

Scenario	Purchase price	Monthly cash flow	Cap rate	Cash-on-cash
75% of median value-add or distressed	$234,861	-$558/mo	3.4%	-12.4%
Median typical MLS deal	$313,148	-$968/mo	2.6%	-16.1%
125% of median newer / premium	$391,436	-$1,378/mo	2.1%	-18.4%

Price History

Historical data from Zillow ZHVI/ZORI

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$313,148

Down Payment (20%)$62,630

Loan Amount$250,518

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,036

Monthly P&I-$1,642

Est. Expenses (35%)-$363

Net Cash Flow-$968/mo

2.6%

Cap Rate (all cash)

-16.1%

Cash-on-Cash Return

3.97%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 2.6% 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

55/100

Cash Flow(30%)

30/100

Based on 3.97% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

87/100

Based on 5.3% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

62/100

Price-to-income ratio of 4.5x. 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

+Strong price appreciation (+5.3% YoY)
+Complete rent data available

Challenges

-Below-average rent-to-price ratio (3.97%)
-Negative cash flow at typical financing (-$968/mo)
-Negative leverage (cap rate 2.6% < mortgage rate 6.9%)

Economic Indicators

Population

34,507

Median Income

$68,837

vs $57,059 national est.

Unemployment Rate

—

Data pending

Price-to-Income

4.5x

Moderately affordable

Who this market fits

Best for

+Appreciation buyers: YoY growth is meaningfully above the long-run average
+Patient holders willing to accept negative carry for equity gains
+All-cash buyers: removing debt service flips the cap rate to actual yield

Skip if

−You need positive cash flow on day one at typical leverage
−You can't tolerate negative leverage (cap rate below mortgage rate today)

Compare to Nearby Counties

County					Verdict
TippecanoeIN	61	$288,669	$1,526	6.35%	Buy	View
MontgomeryIN	60	$214,380	$934	5.23%	Buy	View
HamiltonIN	59	$450,547	$1,832	4.88%	Hold	View
PorterIN	59	$320,190	$1,469	5.50%	Hold	View
KosciuskoIN	58	$272,509	$1,108	4.88%	Hold	View
CurrentSteubenIN	55	$313,148	$1,036	3.97%	Hold

The Bottom Line

HoldSteuben is a neutral market. Consider house hacking or targeting below-market deals.

Steuben County in Indiana scores 55/100, ranking #459 of 1,000 US counties (top 61%). At 20% down and current rates, a median-priced rental loses about $968/month; the 3.97% gross rent-to-price ratio doesn't survive debt service. The thesis here is appreciation, value-add, house hacking, or all-cash.

Monthly Cash Flow

$-968/mo

Cap Rate

2.6%

Cash-on-Cash

-16.1%

Related markets

Markets like Steuben with stronger cash flow

Cheaper alternatives to Steuben

Head-to-head comparisons

All counties in Indiana →

Ready to Analyze a Deal in Steuben?

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Scenario comparison

Same $1,036/mo rent assumption, 20% down, 6.85% rate. What changes is the acquisition price.

Scenario	Purchase price	Monthly cash flow	Cap rate	Cash-on-cash
75% of median value-add or distressed	$234,861	-$558/mo	3.4%	-12.4%
Median typical MLS deal	$313,148	-$968/mo	2.6%	-16.1%
125% of median newer / premium	$391,436	-$1,378/mo	2.1%	-18.4%

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$313,148

Down Payment (20%)$62,630

Loan Amount$250,518

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,036

Monthly P&I-$1,642

Est. Expenses (35%)-$363

Net Cash Flow-$968/mo

2.6%

Cap Rate (all cash)

-16.1%

Cash-on-Cash Return

3.97%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 2.6% 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

55/100

Cash Flow(30%)

30/100

Based on 3.97% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

87/100

Based on 5.3% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

62/100

Price-to-income ratio of 4.5x. Lower ratios indicate more affordable markets.

Who this market fits

Best for

+Appreciation buyers: YoY growth is meaningfully above the long-run average
+Patient holders willing to accept negative carry for equity gains
+All-cash buyers: removing debt service flips the cap rate to actual yield

Skip if

−You need positive cash flow on day one at typical leverage
−You can't tolerate negative leverage (cap rate below mortgage rate today)

County

Verdict

TippecanoeIN

$288,669

$1,526

6.35%

Buy

View

MontgomeryIN

$214,380

$934

5.23%

Buy

View

HamiltonIN

$450,547

$1,832

4.88%

Hold

View

PorterIN

$320,190

$1,469

5.50%

Hold

View

KosciuskoIN

$272,509

$1,108

4.88%

Hold

View

CurrentSteubenIN

$313,148

$1,036

3.97%

Hold

The Bottom Line

HoldSteuben is a neutral market. Consider house hacking or targeting below-market deals.

Monthly Cash Flow

$-968/mo

Cap Rate

2.6%

Cash-on-Cash

-16.1%