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Indianapolis IN Apartment Market Read
Covers Indianapolis, Carmel and Greenwood.
Current market read
Landlord’s market
ConditionFirm
The yearly data still reads a landlord's market, but the monthly figures, asking rents and jobs are cooling.
From public data. The situation now, not a forecast.
Renter Google searchabout 4,400 searches in August 2026 · HousesSee read → What renters Google mostHousesSee all →
Renter Google Search InterestGoogle · monthly
About 4,400 searches in August 2026, for Indianapolis on its own
November is usually one of the quietest months for renter searches here.
Attention, not a verdict. Google searches for apartments to rent.
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The day asking rent growth (now +2.5%) or job growth (now -0.6%) moves half a point, you get an email. Plus two years of history and the report.
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Momentum · which way it's movingRENT + JOBS · UPDATED MONTHLY
Cooling
Job growth has cooled (September 2026).
Job growthBLS · SEPTEMBER 2026, PRELIMINARY
−0.6%
▼ Cooling, past 12 months
Job growth · 12 months
Oct 2025 to Sep 2026, with Pro
VacancyCENSUS · 2024
Share of rentals sitting empty. A yearly count, last taken 2024, not what sets the condition.
Asking rentZILLOW · MONTHLY
$1,387 a month
September 2026, ▲ up 2.5% on September 2025
Data Provided by Zillow Group
Asking rent · 24 months
Oct 2024 to Sep 2026, with Pro
Census 2024: +5.5% · US avg +4.6%
Median rentCENSUS · 2024
$1,273/mo
Typical rent. A yearly count, last taken 2024
Median rent · 8 yearly counts
2017 to 2025, no 2020, with Pro
In the news · IndianapolisNEWS · DAILY
Latest local coverage, 5 days ago. softer neutral firmer
IU Indianapolis to expand on-campus housing with new residence hall3Rivers CU, FHLBank Indianapolis Award $75,000 For Affordable HousingIndianapolis Multifamily Market Report – October 2026View all 8 Indianapolis news →Demand vs supplyCENSUS + BLS
Moderate demand
DEMAND
Jobs−0.6%
Migration 2025+2.2/1k
SUPPLY
Permits 2025-15%
Vacancy 20244.2%
Rent vs buyWEEKLY RATE · 2024 RENT
+$929/mo
Cheaper to rent than buying
rent $1,273 · own $2,202
$1,273RENT
$2,202OWN
Domestic migrationCENSUS · 2025
+2.2/1k
▲ More people moved in from elsewhere in the US than left. A yearly count, last taken 2025.
OUTFLOWINFLOW
Census · BLS · FRED · Zillow · news
For information only. Not investment advice. AI-written summaries can make mistakes.