Real Estate Investing in Kokomo, Indiana (46902)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46902 (Kokomo, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.0% of homes vacant — above national norms.
What’s happening in Kokomo, IN (46902)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46902 Kokomo
The 46902 ZIP in Kokomo, IN is a local-operator market. Outside capital chasing a $205K entry has to pair deep knowledge with the discount.
For an experienced owner, 46902 can be a worth a close look for hunting ground — but the discount at $205K reflects genuine risk that outside investors often underestimate.
The gap between 46902 and stronger Kokomo ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 46902 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 46902 is an operator game, not a passive one. Put differently, entry prices of $205K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Kokomo:
Property Strategy for 46902
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $76,122 | $900 | 8.5% | +9.5% | $76,122 |
| 2BR | $127,036 | $1,140 | 6.5% | +9.9% | $63,518 |
| 3BR | $191,181 | $1,410 | 5.3% | +8.9% | $63,727 |
| 4BR | $276,066 | $1,590 | 4.1% | +8.0% | $69,017 |
| 5BR | $344,698 | — | — | +7.1% | $68,940 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46902 Compare?
| Metric | 46902 | Kokomo | Kokomo, IN | Indiana |
|---|---|---|---|---|
| Home Value | $204,593 | $74,078 | N/A | $248,442 |
| 5-Year CAGR | 7.2% | 7.2% | N/A | 7.7% |
| Avg Rent | $1,079 | $1,011 | N/A | - |
| Cap Rate | 4.1% | 4.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46902 (Kokomo, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $204,593 |
| Monthly Rent | $1,079 |
| Price-to-Rent | 15.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 11.4% |
📈 Home Appreciation
| 1-Year | +6.0% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | +11.2% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). 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 46902
Population: 36,640
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 46902
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
Investor Insight: With 809 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Kokomo, IN?
Kokomo, IN home values average about $205K. That price point suits investors targeting rentals with $1,079/mo in monthly income.
Which real estate strategy fits Kokomo, IN?
In Kokomo, IN the resilient play is typically careful cash-flow rentals with hands-on management. The combination of $205K prices and $1,079/mo rents suits that approach.
Can owner-occupants cash flow in Kokomo, IN?
The a challenging house-hack environment in Kokomo, IN reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Are landlord laws favorable in Kokomo, IN?
IN ranks as a landlord-friendly state for landlord-tenant law. Kokomo generally follows the statewide framework, so landlords face reasonable operating rules.
What are rental rates like in Kokomo, IN?
Rent in Kokomo, IN is around $1,079/mo. The resulting rent-to-value relationship with $205K pricing is reasonable for most investor models.
You know 46902 now. You don’t know where it ranks.
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