Indianapolis multifamily market, October 2026

Landlords have the edge in Indianapolis, and it is cooling: asking rents are up 2.5% on a year, while jobs slipped 0.6%.

Updated October 31, 2026 · from Zillow, BLS and the US Census Bureau

+2.5%

Asking rent, year over year

Zillow · September 2026

-0.6%

Jobs, year over year

BLS · September 2026, preliminary

4.2%YEARLY

Vacancy

Census · 2024 count

What is moving now

Asking rents are up 2.5% on a year to September 2026, which is the figure the condition is read from. Jobs are down 0.6% over the same year to September 2026, a first release the BLS revises the following month. Job growth has cooled (September 2026).

The backdrop

These are yearly Census counts, not this month's: 4.2% of rentals sat empty in 2024, permits for new apartments were down 15% in 2025, more people moved in than out in 2025, and the typical rent was $1,273 a month in 2024. They are the background the monthly figures move against, and they are the newest the Census has published.

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Common questions about Indianapolis

Answered from the data, updated October 31, 2026

Is the Indianapolis rental market tight or soft right now?

In Indianapolis right now, landlords have the edge, and it is cooling.

Which way is the Indianapolis market heading?

Indianapolis is cooling right now, as asking rents firm over the past year (Zillow ZORI, monthly).

Is Indianapolis a landlord's or a renter's market?

Indianapolis is a landlord's market right now: landlords have the edge, and it is cooling.

What is the vacancy rate in Indianapolis?

Vacancy in Indianapolis is 4.2% in the 2024 count, a yearly snapshot rather than a monthly reading (US Census Bureau).

How much have Indianapolis rents changed?

Asking rents in Indianapolis are up 2.5% over the past year (Zillow ZORI, monthly, latest Sep 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

IU Indianapolis to expand on-campus housing with new residence hallMirror Indy

3Rivers CU, FHLBank Indianapolis Award $75,000 For Affordable HousingCU Today

Indianapolis Multifamily Market Report – October 2026Yardi Matrix

3Rivers FCU, FHLBank Indianapolis donate $75K for Bridge of Grace housing projectWANE 15

Top Multifamily Transactions in IndianapolisMulti-Housing News

The Annex Group Breaks Ground on $71M Indianapolis Affordable Housing CommunityMultifamily & Affordable Housing Business

See all Indianapolis news →

Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.
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