Greencastle, IN Airbnb Market Data, Statistics, and Occupancy Rates

Greencastle Short-Term Rental Market Overview

Greencastle, IN presents an appealing entry point for short-term rental investors, with an above-average revenue-to-price ratio and average home values around $391,602. The market currently hosts just 39 active Airbnb listings, creating a low-competition environment where well-positioned properties can capture meaningful share. While occupancy runs at 26% — below the Indiana state average of 32% — the market's relatively high ADR of $249 and strong seasonal peaks help drive an average annual revenue of $29,144.

Key Market Statistics

According to Rabbu market data, the Greencastle short-term rental market shows:

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Apr, 27 2026.

Why Investors Consider Greencastle

Greencastle's favorable revenue-to-price ratio and compact supply make it a compelling market for investors seeking yield from a small college town with seasonal event-driven demand.

Expert Market Assessment

"Greencastle represents a moderate-to-attractive opportunity for STR investors willing to work with pronounced seasonality. Revenue swings significantly between peak months — August leads at $3,804 — and the winter trough, where December and February hover near $1,077. The market's 63/100 ROI score reflects a healthy revenue-to-price dynamic balanced against below-average occupancy stability, meaning investors who price competitively during shoulder months and maximize peak-season bookings stand to outperform. Larger properties, particularly 3-bedrooms, offer the best revenue profile and merit close consideration."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Greencastle

Average revenue by month in Greencastle

Greencastle exhibits strong seasonality, with August peaking at $3,804 and December bottoming out at $1,077 — a spread of nearly $2,727. The warm months from May through October consistently produce revenues above $3,000, while the winter months from November through March drop significantly, signaling that investors should budget for lean earning periods.

Active Airbnb listings by property size in Greencastle

One-bedroom units dominate the supply with 12 listings, followed by 10 two-bedrooms, 8 four-bedrooms, and just 7 three-bedrooms. Given that 3-bedroom properties generate the highest annual revenue, their relatively limited supply could represent a meaningful opportunity for investors looking to enter an underserved segment.

Average daily rate (ADR) by property size in Greencastle

ADR scales substantially with property size, rising from $173 for 1-bedrooms to $381 for 4-bedroom homes — more than double. The jump from 2-bedrooms ($199) to 3-bedrooms ($261) is particularly notable, suggesting that adding a third bedroom delivers a strong pricing premium relative to the incremental cost.

Average RevPAN by property size in Greencastle

Four-bedroom properties deliver the highest RevPAN at $99, followed by 3-bedrooms at $78, while 2-bedrooms lag considerably at just $33. This gap highlights that larger properties not only command higher nightly rates but also convert available nights into revenue more effectively, despite not always having the top occupancy rates.

Average occupancy rates by property size in Greencastle

One-bedroom listings lead occupancy at 31%, closely followed by 3-bedrooms at 30%, while 4-bedrooms sit at 26% and 2-bedrooms trail significantly at just 17%. The weak performance of 2-bedroom units suggests potential oversupply or pricing misalignment in that segment, making them a riskier bet for consistent cash flow.

Average monthly revenue by property size in Greencastle

Three-bedroom properties are the top monthly earners at $3,751, outpacing even 4-bedrooms ($3,302) despite commanding lower nightly rates. One-bedroom units generate the least at $1,477 per month, underscoring how revenue scales considerably with property size in this market.

Average annual revenue by property size in Greencastle

At $45,023 annually, 3-bedroom properties deliver the strongest revenue potential in Greencastle, exceeding 4-bedrooms ($39,631) by roughly $5,400. One-bedrooms trail at $17,733, suggesting that mid-to-large properties offer the best return potential for investors targeting this market.

Most common amenities for Airbnb listings in Greencastle

Parking and a kitchen are virtually universal at 97% of listings, while self check-in (85%), a washer (74%), and a backyard (74%) round out guest expectations. The prevalence of outdoor amenities like backyards, patios, and BBQ grills signals that guests value private outdoor space — an important consideration when evaluating properties.

Understanding Greencastle's ROI Score: 63/100

Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.

How the ROI Score is Calculated

What This Means for Investors

Greencastle's ROI score of 63 out of 100 lands it in the 'Attractive Opportunity' band, driven primarily by an above-average revenue-to-price ratio that indicates strong yield potential relative to property costs. Occupancy stability scores below average, reflecting the pronounced seasonality that compresses most earnings into the May–October window, while market growth and supply/demand balance both register as average. Pairing this data with thorough research into Greencastle's local STR regulations and your own investment criteria will help determine whether the market's strengths outweigh its seasonal softness.

Short-Term Rental Regulations in Greencastle

Understanding local STR regulations is essential before investing in Greencastle. Here's the current regulatory landscape:

Permit Requirements

Short-term rental operators in Greencastle, Indiana may need to obtain permits or register their property with local authorities before listing. Investors should verify current requirements directly with the City of Greencastle and Putnam County offices, as regulations can change.

Key Restrictions

Common STR restrictions in Indiana communities can include occupancy limits, minimum stay requirements, noise ordinances, parking mandates, and HOA rules that may limit or prohibit short-term rentals. Some jurisdictions also impose caps on the number of permits issued, so checking local zoning and any homeowners association covenants before purchasing is essential.

Tax Obligations

Short-term rental hosts in Indiana are generally subject to state sales tax and county innkeeper's tax on rental income. Platforms like Airbnb often collect and remit these taxes on behalf of hosts, but operators should confirm their obligations with the Indiana Department of Revenue to ensure full compliance.

Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Greencastle can provide current regulatory guidance.

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Greencastle's STR market is expected to see continued growth in supply, with year-over-year listing growth already at 116%. Seasonal demand should remain concentrated from May through October, with peak months potentially pushing monthly revenues above $3,500. ADR may edge up modestly by 1–3% as hosts refine pricing strategies, though occupancy could face pressure as new listings enter the market. Investors should plan for softer winter months where revenue may dip below $1,300 and budget accordingly."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Greencastle, IN

What is the average Airbnb occupancy rate in Greencastle?

The average Airbnb occupancy rate in Greencastle is currently 26%, which falls below the Indiana state average of 32%. Occupancy varies by property size, with 1-bedroom units achieving the highest rate at 31% and 2-bedrooms trailing at 17%. Seasonal demand patterns play a significant role, so investors should expect stronger occupancy from late spring through early fall.

How much do Airbnb hosts make in Greencastle?

Airbnb hosts in Greencastle earn an average of $2,428 per month and approximately $29,144 per year based on trailing 12-month data. Revenue varies significantly by property size — 3-bedroom properties lead with an average annual revenue of $45,023, while 1-bedroom units average $17,733. Seasonal peaks in August and September can push monthly earnings above $3,500.

Is Greencastle a good market for Airbnb investment?

Greencastle scores a 63 out of 100 on Rabbu's ROI Score, placing it in the 'Attractive Opportunity' category. The market benefits from an above-average revenue-to-price ratio and manageable competition with just 39 active listings. However, occupancy stability is below average, so investors should plan for meaningful seasonal revenue fluctuations and focus on maximizing peak-season performance.

What is the average daily rate (ADR) for Airbnb in Greencastle?

The average daily rate in Greencastle is $249, which is below the Indiana state average of $290. ADR scales meaningfully with property size: 1-bedroom listings average $173, 2-bedrooms come in at $199, 3-bedrooms at $261, and 4-bedroom properties command $381 per night. This pricing structure rewards investors who acquire larger homes suited for group stays.

Are short-term rentals legal in Greencastle?

Short-term rentals are generally permitted in Greencastle, Indiana, though operators may need to obtain local permits or registrations. Regulations can vary and change over time, so prospective investors should contact the City of Greencastle and review any applicable zoning ordinances or HOA restrictions before purchasing a property for STR use.

When is peak season for Airbnb in Greencastle?

Peak season in Greencastle runs from May through October, with the highest average monthly revenue occurring in August at $3,804, followed by September at $3,543 and May at $3,491. The off-season spans November through February, when monthly revenue drops to between $1,077 and $1,540. This seasonality is likely tied to university events and warmer-weather travel patterns.

How many Airbnbs are there in Greencastle?

There are currently 39 active Airbnb listings in Greencastle as of April 2026. The supply is spread across property sizes, with 12 one-bedroom listings, 10 two-bedrooms, 7 three-bedrooms, and 8 four-bedroom properties. Notably, year-over-year listing growth stands at 116%, indicating the market is expanding rapidly.

How is Airbnb revenue calculated in Greencastle?

The annual and monthly revenue figures for Greencastle are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market — they are not forward-looking projections. We average each comparable listing's actual revenue per available night (RevPAN) by month over the past year, remove regional outliers, and roll the results up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently while naturally reflecting seasonal peaks and slower months, since each month uses its own historical performance. Individual results can vary based on property quality, pricing strategy, and operational management.

About Rabbu Market Data

Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.

What this data includes

• Regularly updated active Airbnb and STR listing counts by market
• Occupancy rates, average daily rates, and RevPAN trends by property size
• Monthly and annual revenue metrics based on trailing 12-month booking data
• Home value benchmarks sourced from the Zillow Home Value Index (ZHVI)
• Amenity prevalence data across active listings in the market

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Apr, 27 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month averages and may not capture very recent market shifts. Local regulations, HOA rules, and tax obligations vary and should be independently verified before investing.