Indianapolis Real Estate Market: June 2024 Stats and Trends

Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing, Indianapolis, IN, is certainly worth considering.

From stadium sports, to live music, to museums, and one of the most famous motor sport speedways in the United States; Indianapolis has every kind of entertainment for residents to enjoy. However, this city is more than just the home of the Indy500, it has a deep connection to music, food, and technology that brings Indiana locals and transplants alike to the lively city. 

But what about the Indianapolis real estate market in June 2024? What do stats and trends look like, especially right now? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.

Here are some of the top trends in the Indianapolis real estate market (June 2024):

Indianapolis General Statistics

• Population (city proper): 874,089 (down 4.4% since 2020)

• Population (metro area): 2,142,193 

• Area (city proper): 361.6 sq. mi.  

• Area (metro area): 4,306.6 sq. mi.

• Median Age: 37 

• GDP: $1.8 billion 

• Unemployment rate: 3.1% (county-wide; down .6% since February 2024)

• Top employers: Eli Lilly and Company, Barnes & Thornburg, Anthem, Simon Property Group, Rolls-Royce, Brightpoint, Appirio, IU Health Inc., SGI, Allison Transmission. 

• Highest paying jobs: Cardiothoracic Surgeon, Radiologist, MS Physician-Dermatologist, Assistant Professor of Surgery, Cardiologist, Physiatrist, Physician, Hospitalist Physician, Pulmonary Physician, Hematologist.

• Median income (per capita): $35,856

• Median income (household): $61,501

Indianapolis Real Estate Market (June 2024) Statistics

• Neighborhoods: 237

• Homes for sale as of June 2024: 3.578 

• Median list price: $270.5K (up 2.6%  Since January 2024)

• Median sold price: $264.7K (up 2.6% since January 2024)

• Sale-to-list price ratio: 101.21%

• Median price per square foot: $148 

• Median days on market: 34 (down 30% since January 2024)

• Rental vacancy rate: 10.5%

• Homeowner vacancy rate: 1.8%

• One-year appreciation rate: +2.7%

• Average rent: $1,195 

• Price-to-rent ratio: 18

• Most expensive neighborhoods:  

• Least expensive neighborhoods:
  
  

Final Thoughts: Indianapolis Real Estate Market (June 2024) Trends

The Indianapolis real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Indianapolis real estate market could provide ample opportunity to build your portfolio.

Get Started Buying Homes With Evernest

Whether you’re purchasing one Indianapolis home or one hundred, you don’t have to go it alone. 

If you’re ready to buy your first (or next) investment property, here are three steps to get started today:

• Subscribe to our podcast: The Evernest Real Estate Investor Podcast—for all things real estate investing, being a landlord, growing your portfolio, and more. 

• Find a property: Make sure you sign up for our Pocket Listings to get notified of all the deals that come across our desk daily.

• Get an investor-friendly agent: We can help with that—we would love to help you buy your next rental property investment.