Indianapolis rent increases among highest in nation

Axios Indianapolis recently reported that, “Rent for middle-tier apartments was up more in Indianapolis than just about any other metro area in the nation at the end of 2023, according to real estate firm CoStar Group, which rates buildings based on design, amenities, location and certifications.” For a time in 2023, Indianapolis led the nation in rent hikes.

“High rent prices continue to squeeze low and middle-income residents in Indianapolis. Why it matters: They're unlikely to catch a break on rent anytime soon.” High occupancy rates nearly guarantee that rent costs will stay up. At last check, Indianapolis was at 96% occupancy for apartments. It’s important to note that Gregg Colburn, author of Homelessness Is A Housing Problem, sites a 5% vacancy rate as the data point where cities are in a homelessness crisis. We’re already there.