Overview
McCordsville, Indiana, is one of the fastest-growing communities in the Indianapolis metropolitan area, offering investors an opportunity to participate in a market characterized by strong population growth, rising home values, and expanding commercial development.
Located in Hancock County between Indianapolis, Fishers, and Geist Reservoir, the town provides residents with convenient access to major employment centers, highly rated Mt. Vernon schools, and a growing mix of retail, healthcare, and community amenities.
McCordsville's population has grown to more than 11,000 residents and continues to attract families and professionals seeking newer housing in a desirable suburban setting. For rental property owners, McCordsville offers a combination of economic stability, strong household incomes, low unemployment, and sustained housing demand, making it an attractive market for investors seeking long-term appreciation, stable occupancy, and potential rental growth.
The numbers below reflect current market conditions in McCordsville and the surrounding area.
| Metric | Value | Source |
|---|---|---|
| Population | 11,273 | Census Bureau QuickFacts |
| Renter-Occupied Housing | 10.4% renter-occupied | Census Bureau QuickFacts |
| Median Gross Rent | $1,085/mo (ACS 2019–2023) | Census Bureau QuickFacts |
| Median Home Value | $327,900 | Census Bureau QuickFacts |
| Total Nonfarm Employment | Hancock County: 31,600 | Hoosiers by the Numbers (QCEW) |
| Unemployment Rate | 2.6% | US Census Data via uscivicdata.com |
McCordsville's economy is supported by a highly educated workforce, strong household incomes, and its proximity to the Indianapolis metropolitan area, providing residents with access to a broad range of employment opportunities.
The largest employment sectors for McCordsville residents are professional, scientific, and technical services, health care and social assistance, and educational services, reflecting the community's growing concentration of professional and skilled workers. Combined with continued population growth, low unemployment, and convenient access to major regional employment centers, these industries help support economic stability and sustained demand for housing within the community.
McCordsville is considered a desirable rental investment market due to its rapid population growth, affluent resident base, strong regional employment access, and continued residential development. While acquisition costs are higher than many Indiana communities, the town's economic stability, growing housing demand, and potential for long-term appreciation make it an attractive option for investors seeking asset growth and stable occupancy rather than purely cash-flow-driven returns.
Using the median home value ($327,900) and median gross rent ($1,085/month), the implied gross annual rent is about $13,020, which produces a rough gross rent multiplier of approximately 25 and a gross yield near 4%. This suggests McCordsville is generally a moderate-yield, appreciation-oriented market rather than a high-yield rental market.
McCordsville's rental demand is driven primarily by its rapid population growth, proximity to major employment centers, and strong quality-of-life amenities. The town has grown from roughly 1,100 residents in 2000 to more than 11,000 residents today and continues to attract new households seeking suburban living near Indianapolis, Fishers, and Geist Reservoir.
Convenient access to I-69, I-70, U.S. 36, and the northeast Indianapolis employment corridor allows residents to commute to jobs throughout the region while benefiting from McCordsville's highly rated Mt. Vernon schools and newer housing stock. Ongoing residential and commercial development, including the mixed-use McCord Square town center, is further increasing the area's appeal to young professionals, families, and empty nesters.
McCordsville does not impose significant rental housing regulations beyond standard zoning, building, and property maintenance requirements. Landlords primarily operate under Indiana's landlord-tenant statutes, which are generally considered landlord-friendly. Indiana does not limit security deposit amounts or impose rent control; investors should also review the Town of McCordsville's current code of ordinances and any HOA restrictions affecting individual neighborhoods before purchasing rental property.
For rental investors, the most sought-after areas are generally:
Geist Reservoir Area — Popular with higher-income renters seeking access to waterfront amenities, newer homes, and proximity to Fishers. Source: homes.com
McCord Square / Downtown Growth Corridor — The town's emerging mixed-use center featuring new apartments, restaurants, retail, and community gathering spaces. New developments such as The Jackson and The Lucas apartments are helping create a walkable rental market. Source: ibj.com
Vintner's Park, Hampton Walk, and Other New Master-Planned Communities — These neighborhoods attract families looking for newer construction, community amenities, and access to Mt. Vernon schools. Source: livinginindianapolis.com
Areas Along the U.S. 36 and Mt. Comfort Road Corridor — This corridor provides convenient access to Fishers, Lawrence, Indianapolis, and local retail and services, making it attractive to commuters. Sources: ibj.com, livinginindianapolis.com
McCordsville, Indiana, offers an attractive opportunity for residential rental property owners seeking long-term growth in one of the Indianapolis area's fastest-growing communities. The town's population has expanded rapidly, reaching more than 11,000 residents, while strong household incomes, a median home value of approximately $328,000, and limited renter occupancy create favorable conditions for quality rental housing.
Located just northeast of Indianapolis, McCordsville benefits from access to the region's employment base, highly rated schools, and continued residential development, making it appealing to families and professionals seeking suburban living. With Hancock County supporting more than 31,000 nonfarm jobs and maintaining a low unemployment rate, the local economy provides a stable foundation for housing demand and potential rental income growth.
WILMOTH Group provides full-service property management tailored to the McCordsville market, from leasing and maintenance to financial reporting and compliance.
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One month’s rent
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- 10% of Monthly Rent
- 75% of rent leasing
- $250 lease renewal
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- Weekly Owner Distributions
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Protection You Can Rely On
Love Us Or Leave Us Guarantee
We are committed to your trust and satisfaction! If a new WILMOTH property management client decides to terminate services within the first 90 days, for any reason, all monthly management fees will be returned to the Owner plus an additional $500!
30 Day Leasing Guarantee
We promise that we will find a qualified tenant for your home in 30 days, we will discount our leasing fee by 10%.
Income Protection Promise
We promise we will find a qualified tenant for your home who will make a minimum of six months of rent payments, or we will replace that tenant with a new tenant at no charge!
Eviction Protection Guarantee
WILMOTH promises a rental owner not to incur the costs of eviction during the first 6 months of a tenancy, or we will pay the costs of the eviction filing, attorney fees, and court costs.
Pet Screening Guarantee
We offer a pet policy that includes a thorough look into the background of the pet and its owner. Every pet will be subjected to a pet screening that will result in a Pet Profile that includes the name, breed, weight, sex, age, pictures, vaccination information, micro-chip data, and behavioral information. If a tenant requires special accommodation, we will also verify Service Animals.
90 Day Maintenance Guarantee
Any maintenance repair performed by our internal technicians, or preferred Vendors, will include a 90-day guarantee.
Weekly Available Funds Guarantee
Every Friday we promise if you have available funds in your account to electronically transfer them to you. We do not sit on your cash for an extra profit center.
Transparency Guarantee
We ensure you have full transparency into the accounting of your assets, 24/7.
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Leaving a previous property management company? We'll handle everything required when switching to our company from another property management firm. We charge NO onboarding fees!
Your Satisfaction Guaranteed
We believe in quality customer service. If for any reason you wish to discontinue your service with us, you can cancel your agreement at any time. We just require 30 days notice.
Security Deposit Disposition Guarantee
Within 45 days of a tenant's move out, WILMOTH inspects and assesses damages to the property, then applies them to the security deposit accordingly. Our clients will receive this settlement statement and funds due within 45 days.
Property Assessment Guarantee
WILMOTH will cover the cost of all tenant Move-In and Move-Out property assessments. We'll also publish the report to your Owner Portal for your reference.
Portfolio Statement Guarantee
We will publish a monthly financial statement covering every property in your portfolio. For easy access, we provide this report to your Owner Portal. We also provide a year-end review statement at the beginning of every year.
Invest In McCordsville
McCordsville is a rapidly expanding community attracting residents seeking suburban living with easy highway access. Continued development and new construction support strong rental demand and long-term market stability.