Greencastle, IN—46135
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Greencastle, IN
As of Oct '25, the median home price in Greencastle, IN is $236,000, with a year-over-year change of 2.1%. This indicates that home prices in Greencastle, IN are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $236,000 | 2.1% |
| Single Family | $239,000 | 1.7% |
| Condos | $206,000 | 4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $126,000 | 1.6% |
2 Bed | $180,000 | 2.9% |
3 Bed | $246,000 | 2.1% |
4 Bed | $314,000 | 1.6% |
| 5 Bed | $338,000 | 1.8% |
% of Housing Stock
Rental Trends — Greencastle, IN
As of July '25, Rentcast reports the average rent in Greencastle, IN is $1,200, with a year-over-year rent change of -1.6%. Per bedroom, the median rent as of July '25 in Greencastle, IN is 1-bedrooms: $950, 2-bedrooms: $1,070, 3-bedrooms: $1,420. The most common rental property sizes in Greencastle, IN are 1-bedroom and 2-bedroom, accounting for 38.5% and 35.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,200 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $950 | $950 |
| 2 Bed Rent | $975 | $1,070 |
| 3 Bed Rent | $1,480 | $1,420 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Greencastle, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Greencastle, IN is 37. This is a decrease of -30.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $265,000 | -5.0% |
Listing Count | 46 | -26.0% |
| Listings as % of Homes | 0.6% | -26.0% |
Days on Market | 37 | -30.0% |
Demographics — Greencastle, IN
As of the latest ACS Survey released in 2023, Greencastle, IN has a population of 19,600, which has decreased by -5.6% over the past 5 years. Greencastle, IN is a moderately popular place for families, as children make up 16.4% of the population. The area has a poorly educated workforce, with 21.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,600 | -5.6% |
% Under 18 | 16.4% | -3.5% |
% Seniors | 18.4% | 15.7% |
% WFH | 9.2% | 178.8% |
% w/ College Degree | 21.6% | 35.0% |
As of the latest ACS Survey released in 2023, Greencastle, IN is a predominantly white area, with 86.2% of the population identifying as white. The white population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in Greencastle, IN is black, making up 6.1% of the population. Foreign-born residents account for 3.7% of the population in Greencastle, IN, and this percentage has increased by 5.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 86.2% | -0.8% |
% Black | 6.1% | 24.5% |
% Hispanic | 2.9% | -3.3% |
% Asian | 2.7% | -18.2% |
% Foreign Born | 3.7% | 5.7% |
Mortgage and Risk — Greencastle, IN
According to HUD data as of 2023, there were 343 mortgage originations in Greencastle, IN, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Greencastle, IN. Investor activity is low, as 3.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 343 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 20.0% |
Loan Activity
Rentals and Section 8 — Greencastle, IN
Greencastle, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 328 |
Total Units Section 8 | 328 |
% Rentals under Section 8 | 12.2% |
% Occupied Section 8 | 75.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$150 | $950 | $800 |
| 2 Bedroom | $55 | $975 | $1,030 |
| 3 Bedroom | -$110 | $1,480 | $1,370 |
| 4 Bedroom | N/A | N/A | $1,610 |
Affordability — Greencastle, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $236,000 |
| Median Household Income | $70,800 |