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Indiana

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Market Overview

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EXPLORE 3 Indiana MARKETSToggle markets

Cincinnati
Indianapolis
Louisville

Cincinnati

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VACANCY

Apartment

The average Vacancy Rate was 4.0% in the Cincinnati metro

No vacancy change since Q2 2022 in the Cincinnati metro.
The Cincinnati metro was among the 20 lowest vacancies nationally.
Vacancy is expected to finish 2022 at 4.1% in the Cincinnati metro.

Distribution / Warehousing

The average Vacancy Rate was 6.7% in the Cincinnati metro

Vacancy in the Cincinnati metro fell by 290 basis points.
The Cincinnati metro had the lowest vacancy level since Q3 2009.
Vacancy is expected to finish 2022 at 6.3% in the Cincinnati metro.

Flex / R&D

The average Vacancy Rate was 6.7% in the Cincinnati metro

Vacancy in the Cincinnati metro fell by 50 basis points.
The Cincinnati metro was among the 20 lowest vacancies nationally.
Vacancy is expected to finish 2022 at 6.2% in the Cincinnati metro.

Office

The average Vacancy Rate was 20.6% in the Cincinnati metro

Vacancy in the Cincinnati metro drifted upward by 20 basis points.
The Cincinnati metro had the highest vacancy level since Q3 1995.
Vacancy is expected to finish 2022 at 20.7% in the Cincinnati metro.

Retail

The average Vacancy Rate was 10.2% in the Cincinnati metro

The Cincinnati metro had the eighth lowest vacancy in the nation and the ninth lowest in the Midwest.
No vacancy change since Q2 2022 in the Cincinnati metro.
The Cincinnati metro had the lowest vacancy level since year-end 2005.

RENT

Apartment

The average Asking Rent was $1,159 in the Cincinnati metro

The Cincinnati metro had the second fastest rent growth in the nation, behind only Boston.
Rent is expected to finish 2022 at $1,167 in the Cincinnati metro.

Distribution / Warehousing

The average Asking Rent was $4.47 in the Cincinnati metro

Rent in the Cincinnati metro was up 3.0% from Q2 2022.
Rent is expected to finish 2022 at $4.57 in the Cincinnati metro.

Flex / R&D

The average Asking Rent was $7.43 in the Cincinnati metro

Rent in the Cincinnati metro was up 2.2% from Q2 2022.
Rent Has risen for eight consecutive quarters in the Cincinnati metro.
Rent is expected to finish 2022 at $7.57 in the Cincinnati metro.

Office

The average Asking Rent was $19.71 in the Cincinnati metro

Rent in the Cincinnati metro was up 0.1% from Q2 2022.
Rent is expected to finish 2022 at $19.76 in the Cincinnati metro.

Retail

The average Asking Rent was $16.60 in the Cincinnati metro

The Cincinnati metro remained flat rent since Q2 2022.
Rent is expected to finish 2022 at $16.63 in the Cincinnati metro.

Learn more about the Indiana markets from one of our professionals

Learn more about the Indiana markets from one of our professionals.

Indianapolis

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VACANCY

Apartment

The average Vacancy Rate was 4.4% in the Indianapolis metro

Vacancy in the Indianapolis metro has been in decline for six consecutive quarters.
The Indianapolis metro had the lowest vacancy level since year-end 1993.
Vacancy is expected to finish 2022 at 4.7% in the Indianapolis metro.

Distribution / Warehousing

The average Vacancy Rate was 3.6% in the Indianapolis metro

Vacancy in the Indianapolis metro has been in decline for six consecutive quarters.
The Indianapolis metro was among the 20 lowest vacancies nationally.
Vacancy is expected to finish 2022 at 3.0% in the Indianapolis metro.

Flex / R&D

The average Vacancy Rate was 3.4% in the Indianapolis metro

The Indianapolis metro had the lowest vacancy in the Midwest region, third lowest in the nation.
Vacancy in the Indianapolis metro has been in decline for six consecutive quarters.
The Indianapolis metro had the lowest vacancy level since Q3 2009.

Office

The average Vacancy Rate was 19.2% in the Indianapolis metro

Vacancy in the Indianapolis metro rose by 70 basis points.
The Indianapolis metro was among the 20 lowest vacancies nationally.
Vacancy is expected to finish 2022 at 19.4% in the Indianapolis metro.

Retail

The average Vacancy Rate was 16.5% in the Indianapolis metro

Vacancy in the Indianapolis metro increased by 60 basis points.
The Indianapolis metro had the highest vacancy level since year-end 2018.
Vacancy is expected to finish 2022 at 16.0% in the Indianapolis metro.

RENT

Apartment

The average Asking Rent was $1,101 in the Indianapolis metro

Rent in the Indianapolis metro was up 3.2% from Q2 2022.
Rent is expected to finish 2022 at $1,110 in the Indianapolis metro.

Distribution / Warehousing

The average Asking Rent was $5.25 in the Indianapolis metro

The Indianapolis metro had the second fastest rent growth in the nation, behind only San Bernardino/Riverside.
Indianapolis metro had its fastest rent rate of increase since Q3 2009.
Rent Has risen for seven consecutive quarters in the Indianapolis metro.

Flex / R&D

The average Asking Rent was $8.15 in the Indianapolis metro

Rent in the Indianapolis metro was up 3.0% from Q2 2022.
Indianapolis metro had its fastest rent rate of increase since Q3 2009.
Rent Has risen for seven consecutive quarters in the Indianapolis metro.

Office

The average Asking Rent was $20.30 in the Indianapolis metro

The Indianapolis metro remained flat rent since Q2 2022.
Rent is expected to finish 2022 at $20.39 in the Indianapolis metro.

Retail

The average Asking Rent was $15.67 in the Indianapolis metro

Rent in the Indianapolis metro was up 0.1% from Q2 2022.
Rent is expected to finish 2022 at $15.71 in the Indianapolis metro.

Learn more about the Indiana markets from one of our professionals

Learn more about the Indiana markets from one of our professionals.

Louisville

Learn more about the Indiana markets from one of our professionals

VACANCY

Apartment

The average Vacancy Rate was 5.2% in the Louisville metro

Vacancy in the Louisville metro drifted downward by 20 basis points.
The Louisville metro had the lowest vacancy level since Q1 2018.
Vacancy is expected to finish 2022 at 5.6% in the Louisville metro.

Distribution / Warehousing

The average Vacancy Rate was 2.2% in the Louisville metro

Vacancy in the Louisville metro declined by 140 basis points.
The Louisville metro had the lowest vacancy level since Q1 2017.
Vacancy is expected to finish 2022 at 2.1% in the Louisville metro.

Office

The average Vacancy Rate was 19.9% in the Louisville metro

No vacancy change since Q2 2022 in the Louisville metro.
Vacancy is expected to finish 2022 at 20.0% in the Louisville metro.

Retail

The average Vacancy Rate was 10.5% in the Louisville metro

Vacancy in the Louisville metro increased by 60 basis points.
The Louisville metro had the highest vacancy level since year-end 2018.
Vacancy is expected to finish 2022 at 10.2% in the Louisville metro.

RENT

Apartment

The average Asking Rent was $1,040 in the Louisville metro

Rent in the Louisville metro was up 2.9% from Q2 2022.
Rent is expected to finish 2022 at $1,045 in the Louisville metro.

Distribution / Warehousing

The average Asking Rent was $5.20 in the Louisville metro

Rent in the Louisville metro was up 3.6% from Q2 2022.
Rent Has risen for seven consecutive quarters in the Louisville metro.
Rent is expected to finish 2022 at $5.42 in the Louisville metro.

Office

The average Asking Rent was $17.97 in the Louisville metro

The Louisville metro remained flat rent since Q2 2022.
Rent is expected to finish 2022 at $18.02 in the Louisville metro.

Retail

The average Asking Rent was $17.48 in the Louisville metro

Rent in the Louisville metro was up 0.1% from Q2 2022.
Rent Has risen for seven consecutive quarters in the Louisville metro.
Rent is expected to finish 2022 at $17.53 in the Louisville metro.

Learn more about the Indiana markets from one of our professionals

Learn more about the Indiana markets from one of our professionals.