1st Advantage MortgageAbout 75% of Putnam County homes are owner-occupied, and the median household income is $78,378. Use those as context only. A lender looks at your own documented income and debts; compare APR and total repaid on every Putnam County offer.
On this page
- Putnam County by the numbers
- How Putnam County residents earn a living
- Putnam County against other Indiana counties
- Housing costs in Putnam County
- Household income in Putnam County
- Putnam County next to its neighbors
- The communities that make up Putnam County
- Reading the Putnam County data as a borrower
- Putnam County households compared
- Debt-to-income, Putnam County edition
- Indiana lender licensing
- Four steps for Putnam County borrowers
- More guides for Putnam County
- Frequently asked questions
Putnam County by the numbers
With an estimated 37,280 residents (ACS 2020 to 2024), Putnam County ranks 41st of 92 in Indiana for population. It covers 481 square miles of land, or about 78 people per square mile. Putnam County is classed as nonmetropolitan in the OMB's July 2023 list. Of the 8 Census places inside Putnam County, Greencastle leads by population with about 9,864; 6 of the 8 are incorporated.
How Putnam County residents earn a living
Education and health care employs 24% of working residents, the largest share; manufacturing is next with 18%. Transportation, warehousing and utilities stands out: 9% of workers here, versus 6% statewide. Averaged over the five survey years, 3.1% of the labor force was out of work and looking. Commutes of 45 minutes-plus: 26%; under 15 minutes: 32%.
| Where residents work | Putnam County | Difference from Indiana |
|---|---|---|
| Education and health care | 23.9% | +0.4 pts |
| Manufacturing | 18.1% | +0.1 pts |
| Retail trade | 12.8% | +2.0 pts |
| Transportation, warehousing and utilities | 8.6% | +2.4 pts |
| Construction | 7.9% | +1.3 pts |
| Arts, lodging and food service | 5.4% | -2.4 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Putnam County against other Indiana counties
Out of every Indiana county, Putnam County is most unusual on these measures.
- Few Indiana counties match Putnam County on the share of commutes over 45 minutes: 26% here, 13% for the state, ranking 10th highest of 92. With long commutes, a reliable car is part of keeping the job.
- The uninsured rate: 4.6% in Putnam County. Only 11 of 92 Indiana counties are lower. Even insured households face deductibles; ask the provider about a payment plan.
- The share of renters paying 30% or more of income for rent: 50% in Putnam County. Only 13 of 92 Indiana counties are higher. Make sure a consolidation loan lowers what you pay each month.
Housing costs in Putnam County
Renters in Putnam County pay a median of $884 a month, 17% below the Indiana figure of $1,062. Cost-burdened renters, paying 30%-plus of income: 50% in Putnam County, 48% statewide. Home values center on $218,900, or 2.8 years of median income. Owners occupy 75% of homes. The median year built is 1981. Nationally, Putnam County's $884 rent is about level with the middle county.
| Housing | Putnam County | Indiana statewide | Putnam County vs state |
|---|---|---|---|
| Median gross rent | $884/mo | $1,062/mo | 17% lower |
| Median home value | $218,900 | $218,200 | level |
| Owners | 75% | 71% | +4.8 pts |
| Rent-burdened renters | 50% | 48% | +2.2 pts |
| Burdened owners | 17% | 20% | -3.5 pts |
| Vacant units | 7% | 9% | -1.4 pts |
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). Rent pressure is real here, so run any payment through the debt-to-income calculator before you apply.
Household income in Putnam County
$78,378 is the median household income for Putnam County, set against $71,957 for Indiana. In the state ranking that is 15th of 92.
| Household income | Putnam County | vs Indiana |
|---|---|---|
| Under $35,000 | 22.7% | +0.1 pts |
| $35,000 to $99,999 | 42.1% | -1.3 pts |
| $100,000 to $199,999 | 29.1% | +3.2 pts |
| $200,000 or more | 6.1% | -2.1 pts |
About 23% of households earn under $35,000, while 35% clear $100,000. The poverty rate is 8.7%, 4 points lower than the state's 12.3%. The Gini index of income inequality is 0.407 (0 is perfect equality). If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Putnam County median.
Putnam County next to its neighbors
Nearest neighbors first, measured between county centers (20 to 26 miles). Income ranges from $62,464 in Owen County to $101,144 in Hendricks County; 2 of these neighbors top Putnam County's median.
| Nearby county | Center to center | Household income | Gross rent | Owner-occupied |
|---|---|---|---|---|
| Putnam County | - | $78,378 | $884/mo | 75% |
| Hendricks County, IN | 20 mi | $101,144 | $1,436/mo | 78% |
| Parke County, IN | 20 mi | $68,485 | $704/mo | 82% |
| Clay County, IN | 23 mi | $70,010 | $873/mo | 81% |
| Owen County, IN | 24 mi | $62,464 | $911/mo | 81% |
| Morgan County, IN | 25 mi | $79,429 | $1,042/mo | 82% |
| Montgomery County, IN | 26 mi | $71,479 | $858/mo | 80% |
The communities that make up Putnam County
8 Census places fall mainly inside Putnam County; the 8 biggest are below. They account for 18,723 residents, leaving about 50% of the county in unincorporated, unnamed areas. Among places of 500 or more people, median income runs from $37,315 in Van Bibber Lake to $87,568 in Heritage Lake. Greencastle and every other Putnam County community use this county guide.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Greencastle | city | 9,864 | $55,565 | $908 | 2 mi |
| Heritage Lake | CDP | 3,227 | $87,568 | n/a | 9 mi |
| Cloverdale | town | 2,195 | $42,243 | $743 | 10 mi |
| Roachdale | town | 971 | $66,216 | $1,002 | 13 mi |
| Fillmore | town | 895 | $85,543 | $1,125 | 5 mi |
| Van Bibber Lake | CDP | 658 | $37,315 | $813 | 6 mi |
| Bainbridge | town | 605 | $59,712 | $965 | 7 mi |
| Russellville | town | 308 | $72,875 | n/a | 15 mi |
A CDP is a named community without its own municipal government.
Reading the Putnam County data as a borrower
- 26% long commutes. A Putnam County repair bill is often urgent; compare the shop's financing with a loan in writing.
- Rent squeeze. 50% of renters spend 30%+ of income on rent; borrow only if the loan cuts what you pay overall.
- Know your credit. Review all three bureau reports for free (AnnualCreditReport.com).
Putnam County households compared
College graduates make up 20% of the adult population. 4.6% of residents have no health coverage.
| Residents | Putnam County | Difference from Indiana | Difference from middle U.S. county |
|---|---|---|---|
| Bachelor's or higher | 20.2% | -9.3 pts | -1.9 pts |
| Poverty rate | 8.7% | -3.6 pts | -4.5 pts |
| No health insurance | 4.6% | -2.8 pts | -3.2 pts |
| No vehicle | 3.5% | -2.7 pts | -1.9 pts |
| No high school diploma | 7.4% | -2.2 pts | n/a |
| Unemployment (ACS) | 3.1% | -1.2 pts | -1.3 pts |
| Work from home | 10.1% | -0.6 pts | +1.4 pts |
| Median age | 38.4 | +0.3 yrs | -3.1 yrs |
| Commute length | Putnam County |
|---|---|
| Under 15 min | 31.7% |
| 15 to 29 min | 27.0% |
| 30 to 44 min | 15.7% |
| 45 to 59 min | 12.0% |
| 60+ min | 13.6% |
Debt-to-income, Putnam County edition
Putnam County at the medians, through a lender's eyes (what DTI means):
- $78,378 a year is $6,532 of gross monthly income
- Rent at the median, $884, takes 14% of that
- Under a 35% cap, $2,286 total minus rent leaves $1,402
- With a 45% ceiling, about $2,055 remains for car, card, student and any new loan payments
A household below the $78,378 median has less room than this, often none.
Indiana lender licensing
Before sharing details with a lender, a Putnam County resident can confirm its license with the Indiana Department of Financial Institutions. The Consumer Financial Protection Bureau accepts complaints nationwide. Statewide data and rules: Indiana guide.
Four steps for Putnam County borrowers
A short checklist for Putnam County borrowers:
- Write down what the expense costs; a smaller loan costs less.
- Line up offers side by side: APR, fees in dollars, total cost.
- A Indiana license check takes minutes; do it first.
- Keep a small cushion so one surprise bill does not mean another loan.
More guides for Putnam County
No city in Putnam County has its own guide yet; the state page is next up.
Frequently asked questions
Is Putnam County a high-income county?
Its $78,378 median ranks 15th of 92 Indiana counties and compares with $65,681 for the median U.S. county.
Can a Putnam County renter afford a loan payment?
At the $884 median rent and $6,532 median monthly income, rent alone uses 14%; add other debts before a new payment.
Is Russellville covered?
Yes. Russellville is one of 8 Census places in Putnam County, and this guide covers all of them.
Will a Putnam County address affect my match?
Beyond confirming Indiana as your state, no. Your answers about amount, credit, income and payments are all that count.
Is there a Putnam County office that licenses lenders?
No, licensing is statewide. In Indiana it is the Indiana Department of Financial Institutions.