Indianapolis, Indiana
Market
Market Profile:
The capital of Indiana lies within a metro area of more than 2 million inhabitants. Indianapolis’ practical, working-class economy ensures a reliable tenant base for real estate investors. The cherry on top: Indy enjoys classic midwest rent-to-value ratios—the numbers work for real estate investors.
Single family rental units enjoy an occupancy rate over 95% in Indianapolis, this is indicative of strong rental demand. Indiana is generally considered a landlord-friendly state, with its lack of rent control and solid rights granted to owners to enter their own premises. Evictions in Indiana can take from 3 weeks to 4 months.
Its central location has brought major players in the logistics space to Indianapolis, Fedex Express has their nation hub here employing 7,000, Amazon employs another 9,000. Multiple knowledge clusters are found within the Indy metro, including important nodes in the pharmaceutical and agricultural industries.
Quick Facts:
- Indianapolis has as rapidly growing high-tech job market
- Salesforce has the biggest presence of any tech firm employing over 2,100
- Manufacturing has always had a strong presence here, Rolls-Royce and Raytheon employ over 5,000
- Low Unemployment Rate: 1.2% in 2021
- High ranking in terms of Rent-to-Price Ratio
Population: 887,642
Metro Size: 2,111,040
GDP Per Capita: $53,441
Area: 367.93 mi2
Elevation: 718 ft
Region: Midwest
Time Zone: Eastern
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