{"id":5026,"date":"2022-11-16T15:45:30","date_gmt":"2022-11-16T15:45:30","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5026"},"modified":"2023-09-13T04:58:26","modified_gmt":"2023-09-13T04:58:26","slug":"indianapolis-multifamily-market-report-october-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/indianapolis-multifamily-market-report-october-2022\/","title":{"rendered":"Indianapolis Multifamily Market Report &#8211; October 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Fundamentals Drive Indianapolis Market Rise<\/h2>\n\n\n\n<p>Indianapolis continued to build on the <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/indianapolis-housing-market-april-2022\/\">solid fundamentals <\/a><\/strong>it highlighted last year, as the multifamily market bounced back with renewed strength. <strong>Rents were up 0.9% <\/strong>on a trailing three-month basis through August, to an average of $1,200\u2014a new record for the metro, but still distant from the $1,718 U.S. figure. Growth outpaced the national average by 30 basis points. On a year-over-year basis, rents were 12.5% higher, exceeding most metros tracked by Yardi Matrix.<\/p>\n\n\n\n<p>After recording a decade-topping figure of 1.4% in December last year, the <strong>unemployment rate dropped to 3.2% in July<\/strong> this year, according to preliminary data from the Bureau of Labor Statistics. The metro\u2019s labor pool expanded by 4.1% since last year (39,700 jobs), 60 basis points behind the national rate. Gains were led by the professional and business services sector, which added 11,100 positions (6.1%), followed by leisure and hospitality, which regained 10,000 jobs (8.9%). Manufacturing jobs in the state are about to get a boost, with a $491 million investment announced by General Motors. The company is planning to upgrade and expand its Grant County facility, which produces parts for electric vehicles.<\/p>\n\n\n\n<p><strong>Indianapolis had 7,095 units underway as of August. <\/strong>Deliveries amounted to 932 units, or 0.5% of stock, 80 basis points behind the national average. Construction activity is intensifying however, with 4,184 units breaking ground\u2014up 160.8% year-over-year.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/2937-MatrixMultifamilyIndianapolisReport-October2022\">Matrix Multifamily Indianapolis Report-October 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Fundamentals Drive Indianapolis Market Rise Indianapolis continued to build on the solid fundamentals it highlighted last year, as the multifamily market bounced back with renewed strength. Rents were up 0.9% on a trailing three-month basis through August, to an average of $1,200\u2014a new record for the metro, but still distant from the $1,718 U.S. figure. [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":5027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[8,444],"class_list":["post-5026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-indianapolis","tag-multifamily-outlook-2022"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Indianapolis Multifamily Market Report - October 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Indianapolis recorded a solid eight months, with multifamily investment activity at $1.7 billion, 25% higher than in the entirety of 2021.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/indianapolis-multifamily-market-report-october-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indianapolis Multifamily Market Report - October 2022\" \/>\n<meta property=\"og:description\" content=\"Indianapolis recorded a solid eight months, with multifamily investment activity at $1.7 billion, 25% higher than in the entirety of 2021.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/indianapolis-multifamily-market-report-october-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-16T15:45:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T04:58:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/11\/Indianapolis-iStock-1304748476.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tudor Scolca-Seusan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Indianapolis Multifamily Market Report - October 2022 - Yardi Matrix Blog","description":"Indianapolis recorded a solid eight months, with multifamily investment activity at $1.7 billion, 25% higher than in the entirety of 2021.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/indianapolis-multifamily-market-report-october-2022\/","og_locale":"en_US","og_type":"article","og_title":"Indianapolis Multifamily Market Report - October 2022","og_description":"Indianapolis recorded a solid eight months, with multifamily investment activity at $1.7 billion, 25% higher than in the entirety of 2021.","og_url":"https:\/\/www.yardimatrix.com\/blog\/indianapolis-multifamily-market-report-october-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-11-16T15:45:30+00:00","article_modified_time":"2023-09-13T04:58:26+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/11\/Indianapolis-iStock-1304748476.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tudor Scolca-Seusan","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/indianapolis-multifamily-market-report-october-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/indianapolis-multifamily-market-report-october-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Indianapolis Multifamily Market Report &#8211; 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