Real Estate Investing in Hamilton, Indiana (46742)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46742 (Hamilton, IN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 34.6% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 33.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hamilton, IN (46742)?
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Market Analysis: 46742 Hamilton
Not every below-median market is a bargain. Hamilton's 46742 ZIP reports signals that favor experienced operators who can absorb the risk $370K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 46742 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 46742 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
From a cash-flow lens, 3,126 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Hamilton:
Property Strategy for 46742
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $270,644 | $1,020 | 2.7% | +9.2% | $135,322 |
| 3BR | $347,684 | $1,310 | 2.7% | +8.9% | $115,895 |
| 4BR | $578,425 | $1,350 | 1.7% | +9.2% | $144,606 |
Market Trends
Home Value History (with trend line)
📊 How Does 46742 Compare?
| Metric | 46742 | Hamilton | Angola, IN | Indiana |
|---|---|---|---|---|
| Home Value | $370,193 | $370,193 | N/A | $248,442 |
| 5-Year CAGR | 6.9% | 6.9% | N/A | 7.7% |
| Avg Rent | $918 | $918 | N/A | - |
| Cap Rate | 1.9% | 1.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46742 (Hamilton, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $370,193 |
| Monthly Rent | $918 |
| Price-to-Rent | 33.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.0% |
| Cap Rate | 1.9% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +10.3% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +6.9% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 46742
Population: 3,126
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 46742
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Should investors consider Hamilton, IN?
Yes - Hamilton, IN a 3.0/5 investability score. With $370K home prices against $918/mo monthly rent, the market delivers a reasonable entry point for new investors.
How high is vacancy risk in Hamilton, IN?
Hamilton, IN sees elevated vacancy, which is reasonable relative to the broader IN rental market.
Are eviction rules reasonable in Hamilton, IN?
Rental owners in Hamilton, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Does house hacking work in Hamilton, IN?
The a challenging house-hack environment in Hamilton, IN reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Where do rents currently stand in Hamilton, IN?
Expect rents around $918/mo per month in Hamilton, IN. With home values at $370K, the yield math works out to reasonable levels for rental investors.
You know 46742 now. You don’t know where it ranks.
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How 46742 ranks in Angola, IN
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