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Market Report

Indianapolis Multifamily Market Report

3Q 2022

Narrow Construction Pipeline and Increasing Corporate
Investment Mitigate Climbing Vacancy

Despite rising vacancy, long-term renter demand prospects solid. With the metro's central location cementing it as an important transportation node, Indianapolis has taken on a bevy of office and warehouse leases this year from logistics firms seeking to expand their presence in the market. The metro is also home to a rapidly expanding innovation sector, with more than $166 million invested into Indianapolis-area tech companies in the second quarter of 2022 alone. Though some of these employers are slowing their hiring velocity, as fears of an economic downturn come to the forefront, current investments are setting the stage for diverse job growth moving forward, stimulating demand across apartment tiers.
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