The Indianapolis apartment market ranks among the country’s most stable rent growth performers during the current economic cycle. Rates are up an average of 2.5% annually throughout recent years, with point-in-time variation generally staying within 100 basis points for eight years. While sub-3% annual rent growth isn’t exactly a home run, results look a little better if your product is in one of the neighborhoods that tend to outperform the metro average, with those outperformers led by the West Indianapolis and suburban Lawrence submarkets. In general, Indianapolis is an asset location that can reduce downside risk in a multi-metro portfolio.
