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City Report · IN

Greencastle

Pop. 9,864·50th most expensive in Indiana·One of the most affordable rental markets in the US
Median rent (all units)
$1,050/mo
Year-over-Year
Stable
Month-over-Month
-8.2%
vs US Median
-$915
Falling (Monthly)
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Most AffordableMost Expensive
Greencastle · $1,050
More affordable than 97% of US cities · National median $1,965/mo
Affordability
23% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,050/mo, rent takes about 23% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$42,000/yr
Local median income
$55,565/yr
Based on the 30%-of-income rule using Greencastle's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$750
1 BR
$800
2 BR
$1,030
3 BR
$1,370
4 BR+
$1,610
Research median
$1,030/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: June 22, 2026

Annual cost
$12,600/yr
At $1,050/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -8.2% MoM), not inventory.
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Demographics

Who lives here

Greencastle, IN is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 22.5% of residents hold a bachelor's degree or higher.

Population
9,864
Median income
$55,565
Median age
27.5
Renters
57.6%
Age distribution
17.1%
41.5%
19.9%
14.8%
Under 1817.1%
18–3441.5%
35–5419.9%
55–646.7%
65+14.8%
Gender
52.7%
47.3%
Male52.7%
Female47.3%
Race & ethnicity
84.3%
White84.3%
Black5.1%
Hispanic3.5%
Asian3%
Other4.1%
Education (25+)
39.1%
30.4%
22.5%
No HS diploma8%
HS diploma39.1%
Some college30.4%
Bachelor's+22.5%
Housing tenure
42.4%
57.6%
Owner42.4%
Renter57.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Greencastle, IN has changed in 5 years

Income
$47,091 → $55,565
up 18.0%
Population
9,980 → 9,864
down 1.2%
Renter share
52.4% → 57.6%
+5.2 pts
Bachelor's+
23.1% → 22.5%
-0.6 pts
Median age
25.4 → 27.5
+2.1 yrs

Median household income climbed from $47,091 to $55,565 between 2021 and 2024, a 18.0% shift. Census counts show Greencastle, IN losing about 116 residents over the five-year window, down 1.2% on net. The renter share has risen from 52.4% to 57.6%, with owner-occupied housing accounting for the remainder.

Community

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View Greencastle rent history (2015–2026) →
Salary vs rent

Can you afford rent in Greencastle on your salary?

At $1,050/mo, how Greencastle rent compares to typical pay (30% rule).

By apartment size

Greencastle rent by bedroom count

Median rent for each apartment size in Greencastle. Click any size for full breakdown.

Local insights

Tips for renters in Greencastle

About renting in Greencastle, IN

Last updated: June 22, 2026

The median rent in Greencastle is $1,050/mo as of June 2026. A studio apartment averages $750/mo while a 2-bedroom runs $1,030/mo. One-bedroom apartments average $800/mo and 3-bedroom units go for $1,370/mo.

At 23% of local median household income ($55,565/yr), Greencastle ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Greencastle an affordable city for renters?

Greencastle is considered very affordable for renters. At $1,050/mo, rent takes approximately 23% of the local median household income ($55,565/yr). The standard benchmark is 30%. Greencastle falls comfortably within that range.

How much income do you need to rent in Greencastle?

To keep rent at or below 30% of gross income, you would need to earn at least $42,000/year (~$20/hour full-time) to afford the median rent of $1,050/mo in Greencastle. The local median household income is $55,565/yr, meaning the typical Greencastle household meets that threshold.

Is rent going up or down in Greencastle?

Rent in Greencastle has been relatively stable over the past year, with a 0.0% change year over year as of June 2026.

How does Greencastle rent compare to other cities in Indiana?

Greencastle is one of the more affordable cities in Indiana for rent, ranking #50 out of 61 tracked cities at $1,050/mo.

Which nearby cities are cheaper to rent in than Greencastle?

Several nearby cities have lower median rents than Greencastle ($1,050/mo): Crawfordsville ($954/mo), Terre Haute ($995/mo).

What percentage of Greencastle residents rent vs. own?

According to Census data, approximately 57.6% of Greencastle households are renters, while 42.4% are owner-occupied. With a majority renter population, Greencastle has a strong rental market.

How does Greencastle rent compare to the national average?

Greencastle's median rent of $1,050/mo is $915 (47%) below the US national median of $1,965/mo. Within Indiana, it ranks #50 out of 61 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $1,050/mo, rent takes ~23% of Greencastle's median household income ($55,565/yr). The standard benchmark is 30%.

Greencastle 23%Benchmark 30%
State income tax3.05%
Run the Greencastle affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Greencastle, IN

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