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Research Outline
Prepared for Melissa S. | Delivered December 3, 2019
Trends : Multi-Housing Rental Market in Indianapolis
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Goals
To identify trends in the multi-housing rental market in Indianapolis that focus on the demographics of apartment renters today.
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Early Findings
As per Fannie Mae’s report titled ‘
Multifamily Metro Outlook: Indianapolis Spring 2019
’, apartment fundamentals have rebounded after a brief slowdown and the metro still boasts
favorable demographic trends
that will help demand stay level with the incoming supply.
As a more specific trend,
apartment supply is beginning to heat up
in Indianapolis as approximately 16,000 apartments have been completed between 2013 and 2019. Low costs of living and above-average job growth continue to attract residents to the metro.
From a demographic stand-point,
young professionals and relocating
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seeking job opportunities and a lower cost of living are expected to continue driving growth in the apartment market in Indianapolis.
According to another report titled ‘
Indianapolis: Room for Growth Multifamily Report Spring 2019
’ published by Yardi Matrix, Indianapolis’ growing economy and well-paying technology and business services jobs continue to attract young professionals, owing to which absorption of new high-end apartments is expected to remain healthy.
As per city-data.com, in Indianapolis,
median household income
for apartments without a mortgage is $46,713
Overall, as reported by Norada Real Estate Investments in 2019, the
housing market statistics
for Indianapolis is as follows:
Median Household Income
: $39,028
Home Owners
: 59%
Single Residents
: 40%
Median Age
: 35
College Educated
: 27%
Transportation
: 97% of people commute by car
In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
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