{"id":5960,"date":"2023-05-17T04:39:50","date_gmt":"2023-05-17T04:39:50","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5960"},"modified":"2024-03-12T15:43:16","modified_gmt":"2024-03-12T15:43:16","slug":"indianapolis-multifamily-market-report-april-2023","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/indianapolis-multifamily-market-report-april-2023\/","title":{"rendered":"Indianapolis Multifamily Market Report \u2013 April 2023"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/indianapolis-multifamily-market-report\/\">Indianapolis Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Investors Stay Bullish On Indianapolis Market<\/h2>\n<p>Amid high inflation and continued economic uncertainty, the Indianapolis multifamily market <a href=\"https:\/\/www.yardimatrix.com\/blog\/indianapolis-multifamily-market-report-october-2022\/\"><strong>started 2023 on a positive note<\/strong><\/a>. Somewhat in line with national trends, rent growth decelerated, with average rates up 0.1% on a trailing three-month basis through February, to $1,203. Meanwhile the national figure declined by 0.1%.<\/p>\n<p><iframe id=\"datawrapper-chart-e4IVg\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Indianapolis vs. National Rent Growth (Trailing 3 Months)\" src=\"https:\/\/datawrapper.dwcdn.net\/e4IVg\/1\/\" height=\"376\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>The metro\u2019s economic growth did not catch up to national levels, as Indianapolis\u2019 job market expanded by 2.5% in 2022, 120 basis points below the U.S. rate. However, the unemployment rate in the metro stood at 2.8% in January, 60 basis points lower than the national figure, according to preliminary data from the Bureau of Labor Statistics. Indianapolis added 18,700 jobs last year, with its largest sector\u2014trade, transportation and utilities\u2014leading growth with 9,200 jobs gained, or a 3.5% expansion. The metro continued to attract large investments that aim to revitalize some areas of the city\u2014Adult &amp; Child Health, Colliers, Innovcare and TWG teamed up to announce a $75 million master-planned development. Four vacant buildings are expected to be converted into affordable multifamily units, retail space and a 40,000-square-foot medical office building.<\/p>\n<p><iframe id=\"datawrapper-chart-rYiE1\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Indianapolis Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/rYiE1\/1\/\" height=\"583\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Investment activity reached a new record high in 2022, with $2.2 billion in multifamily sales registered\u2014up 57.1% year-over-year.<\/p>\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/3779-MatrixMultifamilyIndianapolisReport-April2023\" target=\"_blank\" rel=\"noopener\">Matrix Multifamily Indianapolis Report-April 2023<\/a><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Investors Stay Bullish On Indianapolis Market Amid high inflation and continued economic uncertainty, the Indianapolis multifamily market started 2023 on a positive note. Somewhat in line with national trends, rent growth decelerated, with average rates up 0.1% on a trailing three-month basis through February, to $1,203. Meanwhile the national figure declined by 0.1%. The metro\u2019s [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":5961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[8,475],"class_list":["post-5960","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-2023"],"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 \u2013 April 2023 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Transactions totaled $93 million, up 32.8% year-over-year, while rent growth remained above the national average, Yardi Matrix reports\" \/>\n<meta name=\"robots\" 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