Article Summary
Two of Hendricks County's best rental markets compared side-by-side. Schools, rents, neighborhoods, and investment returns for Avon and Brownsburg property investors.
Avon and Brownsburg are Hendricks County neighbors competing for the same tenant base. Both offer strong schools, affordable homes, and westside convenience. Here's how to decide between them.
Head-to-Head Comparison
| Metric | Avon | Brownsburg |
|---|---|---|
| Average 3BR Rent | $1,900/mo | $1,800/mo |
| Median Home Price | $295,000 | $305,000 |
| Cap Rate Range | 7.0-8.5% | 6.8-8.2% |
| Vacancy Rate | 4.2% | 4.0% |
| Population | 22,000+ | 30,000+ |
| School Rating | 8/10 | 8/10 |
| Downtown Appeal | Retail corridor | Revitalizing Main St |
Avon: The Retail Corridor
Avon's identity centers on US-36, a major commercial corridor packed with retail, restaurants, and services. It's purely suburban—no traditional downtown—but the convenience factor attracts tenants who prioritize amenities and access.
Avon Investment Profile
- Slightly higher rents ($100/month advantage over Brownsburg)
- Slightly lower home prices ($10K advantage)
- Result: Avon edges Brownsburg on cap rates by 0.2-0.3 points
- Best areas: Prestwick, Harvest Landing for family demand
- Value areas: South Avon / Dan Jones Road for cap rates
Brownsburg: The Community Builder
Brownsburg has something Avon lacks: a traditional downtown and strong community identity. The B&O Trail, local festivals, and small-town feel attract tenants who value community. Brownsburg's school district is also rapidly improving.
Brownsburg Investment Profile
- Lower vacancy (4.0% vs 4.2%—tenants stay longer)
- Downtown appreciation: Revitalization creates upside
- Community factor: Stronger tenant attachment reduces turnover
- Best areas: Wynne Farms, Hawks Landing for quality tenants
- Value areas: Airport Road corridor for cap rates
The Key Difference: Community vs Convenience
This comparison comes down to what your target tenants value:
- Avon tenants prioritize convenience—shopping, dining, easy commute
- Brownsburg tenants prioritize community—downtown, trails, neighborhood feel
Both are valid, but community-driven tenants tend to stay longer, giving Brownsburg a slight edge in turnover costs despite marginally lower rents.
Investment Strategy
For maximum cash flow: Choose Avon
Higher rents and lower prices mean better monthly returns. South Avon properties can hit 8.5% cap rates.
For lowest total cost of ownership: Choose Brownsburg
Lower turnover means fewer vacancy periods and turnover costs. Over a 5-year hold, the savings often exceed Avon's rent advantage.
For appreciation: Slight edge to Brownsburg
Downtown revitalization creates a clearer appreciation catalyst than Avon's retail corridor.
The Verdict
These markets are incredibly similar. Avon wins on numbers (rent, cap rate), Brownsburg wins on intangibles (community, turnover, appreciation catalyst). Both are strong Hendricks County investments. The best strategy is to buy whichever property offers the best deal at the time you're buying.
