1st Advantage MortgageIn Fayette County, Indiana, the typical household earns $59,321 a year and the typical rent is $791. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Indiana license first.
On this page
- Getting oriented in Fayette County
- Housing costs in Fayette County
- Paychecks and income spread in Fayette County
- Work, industries and travel time in Fayette County
- Neighboring counties at a glance
- Towns and communities in Fayette County
- Who lives in Fayette County, in numbers
- Before borrowing in Fayette County
- What a median Fayette County budget can carry
- Lender oversight for Fayette County
- Before you sign
- Nearby and statewide guides
- Frequently asked questions
Getting oriented in Fayette County
Roughly 23,334 residents live in Fayette County, Indiana, 66th by population among the state's 92 counties and county equivalents. Packed into 215 square miles, that is close to 109 residents for every square mile of land. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Of the 2 Census places inside Fayette County, Connersville leads by population with about 13,109; 2 of the 2 are incorporated.
Housing costs in Fayette County
A typical Fayette County rental runs $791 a month including utilities, which is 26% below Indiana. 53% of renting households spend 30% or more of income on rent, and 26% spend half or more. The median owner-occupied home is valued at $130,700, about 2.2 times the median household income. The ownership rate is 72%.
| Home costs | Fayette County | Indiana | U.S. middle county |
|---|---|---|---|
| Median gross rent | $791/mo | $1,062/mo | $877/mo |
| Median home value | $130,700 | $218,200 | $185,300 |
| Owners | 72% | 71% | 75% |
| Rent-burdened renters | 53% | 48% | 45% |
| Burdened owners | 16% | 20% | n/a |
| Mobile homes | 4.0% | 4.4% | n/a |
| Vacant units | 14% | 9% | n/a |
Owners with equity have a second option. Weigh a secured line against an unsecured loan by risk as well as cost before you choose (how they compare). High rent burdens leave little slack. If you are borrowing to consolidate, make sure the new payment is lower than the ones it replaces.
Paychecks and income spread in Fayette County
The median household income in Fayette County is $59,321; statewide it is $71,957, so Fayette County runs 18% below Indiana as a whole. Only 81 Indiana counties post a higher median.
| Income band | Share in Fayette County | Difference from Indiana |
|---|---|---|
| Under $35,000 | 30.7% | +8.2 pts |
| $35,000 to $99,999 | 43.5% | +0.1 pts |
| $100,000 to $199,999 | 22.2% | -3.6 pts |
| $200,000 or more | 3.6% | -4.7 pts |
The spread is wide: 26% of Fayette County households make $100,000 or more, and 31% make less than $35,000. Census counts 17.9% of Fayette County residents in poverty, against 12.3% across Indiana. Income inequality, measured by the Gini index, comes to 0.425 here. If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Fayette County median.
Work, industries and travel time in Fayette County
By the Census industry count, 27% of employed Fayette County residents work in manufacturing and 24% in education and health care. Manufacturing stands out: 27% of workers here, versus 18% statewide. ACS puts five-year average unemployment at 3.4% in Fayette County. 24% of commuters travel 45 minutes or more each way, and 5% work from home. Only 7.3% of homes here go without a vehicle.
| Industry (employed residents 16+) | Fayette County | Gap to Indiana |
|---|---|---|
| Manufacturing | 27.4% | +9.4 pts |
| Education and health care | 23.7% | +0.2 pts |
| Retail trade | 12.4% | +1.6 pts |
| Transportation, warehousing and utilities | 6.1% | -0.1 pts |
| Arts, lodging and food service | 5.4% | -2.4 pts |
| Professional and administrative services | 4.8% | -4.5 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
Neighboring counties at a glance
Six nearby counties, 14 to 29 miles away by the straight-line distance between their centers. 5 of the six report a higher median household income than Fayette County; Franklin County is highest at $78,074 and Wayne County lowest at $55,692.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Fayette County | - | $59,321 | $791/mo | 72% |
| Union County, IN | 14 mi | $76,424 | $760/mo | 80% |
| Rush County, IN | 15 mi | $66,473 | $873/mo | 75% |
| Franklin County, IN | 17 mi | $78,074 | $870/mo | 82% |
| Wayne County, IN | 18 mi | $55,692 | $815/mo | 69% |
| Henry County, IN | 23 mi | $63,150 | $820/mo | 76% |
| Decatur County, IN | 29 mi | $69,783 | $861/mo | 76% |
Towns and communities in Fayette County
The table lists the 2 largest of 2 Census places in Fayette County, by population. Together all 2 hold about 13,538 people, so roughly 42% of residents live outside any named place. No Fayette County place has a separate guide yet; this county page serves all 2.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Connersville | city | 13,109 | $48,854 | $787 | 3 mi |
| Glenwood | town | 429 | $55,000 | $1,182 | 6 mi |
Who lives in Fayette County, in numbers
16% of Fayette County adults 25 and older hold a bachelor's degree or more. 6.3% of residents have no health coverage.
| Residents | Fayette County | Indiana | Middle U.S. county |
|---|---|---|---|
| Median age | 44.0 | 38.1 | 41.5 |
| Bachelor's or higher | 16.0% | 29.5% | 22.2% |
| No high school diploma | 14.2% | 9.6% | n/a |
| No health insurance | 6.3% | 7.4% | 7.8% |
| No vehicle | 7.3% | 6.2% | 5.4% |
| Work from home | 4.9% | 10.7% | 8.7% |
| Poverty rate | 17.9% | 12.3% | 13.2% |
| Unemployment (ACS) | 3.4% | 4.3% | 4.4% |
| Commute length | Fayette County |
|---|---|
| Under 15 min | 37.3% |
| 15 to 29 min | 23.6% |
| 30 to 44 min | 15.3% |
| 45 to 59 min | 13.9% |
| 60+ min | 9.9% |
Before borrowing in Fayette County
Based on the Fayette County data above, these borrowing questions are most likely to matter locally.
- Keeping the car running. At 24% with long commutes, repairs are a frequent Fayette County emergency; first decide if the car is worth fixing.
- Tight rental budgets. With 53% of Fayette County renters cost-burdened, test a new payment against a lean month.
- Scams. A fee demanded before funding is a red flag; report it at ReportFraud.ftc.gov (spotting scams).
What a median Fayette County budget can carry
Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Fayette County household at the medians it works out like this; treat it as an illustration only.
- Monthly gross at the median, Fayette County: $4,943
- Less median rent of $791, which is 16% of it
- $1,335: what a 43% ratio leaves once rent is paid
If your rent is above $791, the room shrinks dollar for dollar.
Lender oversight for Fayette County
Before sharing details with a lender, a Fayette County resident can confirm its license with the Indiana Department of Financial Institutions. Federal complaints: consumerfinance.gov. Statewide data and rules: Indiana guide.
Before you sign
Before you apply, wherever you live in Fayette County:
- Know the exact dollar figure you need before talking to a lender.
- Shop at least three lenders, including one Fayette County-area credit union.
- Verify the Indiana license before giving out your Social Security number.
- Pick the shortest term whose payment still fits.
Nearby and statewide guides
For statewide rules and data, see the Indiana guide.
Frequently asked questions
What is the median household income in Fayette County?
$59,321 a year in the 2020 to 2024 Census survey, versus $71,957 for Indiana. It ranks 82nd of 92 in the state.
Is Fayette County expensive for renters?
Median rent is $791 against $1,062 statewide, and 53% of renter households are cost-burdened.
Should Fayette County homeowners use home equity instead?
Maybe, but weigh the risk: 72% of Fayette County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
What are the biggest places in Fayette County?
By population: Connersville, Glenwood. The county has 2 Census places in all.
Does living in Fayette County change what I qualify for?
Not in our fit check, which uses only the amount, credit range, income and payments you enter, the same for a Fayette County resident as anyone. Lenders decide under fair-lending law.