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Indiana
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VACANCY
Apartment
The average Vacancy Rate was 4.5% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 10 basis points.
- The Cincinnati metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2024 at 4.5% in the Cincinnati metro.
Distribution / Warehousing
The average Vacancy Rate was 8.3% in the Cincinnati metro
- Vacancy in the Cincinnati metro declined by 80 basis points.
- Vacancy is expected to finish 2024 at 8.3% in the Cincinnati metro.
Flex / R&D
The average Vacancy Rate was 8.0% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 40 basis points.
- The Cincinnati metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2024 at 7.6% in the Cincinnati metro.
Office
The average Vacancy Rate was 21.0% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 20 basis points.
- The Cincinnati metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2024 at 20.6% in the Cincinnati metro.
Retail
The average Vacancy Rate was 10.7% in the Cincinnati metro
- The Cincinnati metro had the ninth lowest vacancy in the nation and the seventh lowest in the Midwest.
- Vacancy in the Cincinnati metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2024 at 10.8% in the Cincinnati metro.
RENT
Apartment
The average Asking Rent was $1,156 in the Cincinnati metro
- Rent in the Cincinnati metro was down 0.8% from year-end 2023.
- Rent is expected to finish 2024 at $1,178 in the Cincinnati metro.
Distribution / Warehousing
The average Asking Rent was $4.73 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.4% from year-end 2023.
- Rent is expected to finish 2024 at $4.88 in the Cincinnati metro.
Flex / R&D
The average Asking Rent was $7.79 in the Cincinnati metro
- The Cincinnati metro had the fastest rent growth in the nation.
- Cincinnati metro had its fastest rent rate of increase in four quarters.
- Rent has risen in every quarter since Q3 2020 in the Cincinnati metro.
Office
The average Asking Rent was $19.86 in the Cincinnati metro
- The Cincinnati metro had the second fastest rent growth in the nation, behind only Knoxville.
- Cincinnati metro had its fastest rent rate of increase since year-end 2016.
- Rent is expected to finish 2024 at $19.92 in the Cincinnati metro.
Retail
The average Asking Rent was $16.70 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.2% from year-end 2023.
- Rent is expected to finish 2024 at $16.88 in the Cincinnati metro.
VACANCY
Apartment
The average Vacancy Rate was 5.3% in the Indianapolis metro
- Vacancy in the Indianapolis metro drifted upward by 10 basis points.
- The Indianapolis metro had the highest vacancy level since Q2 2021.
- Vacancy is expected to finish 2024 at 5.3% in the Indianapolis metro.
Distribution / Warehousing
The average Vacancy Rate was 9.8% in the Indianapolis metro
- Vacancy in the Indianapolis metro has risen for seven consecutive quarters.
- The Indianapolis metro had the highest vacancy level since Q2 2021.
- Vacancy is expected to finish 2024 at 9.7% in the Indianapolis metro.
Flex / R&D
The average Vacancy Rate was 4.6% in the Indianapolis metro
- The Indianapolis metro had the lowest vacancy in the nation.
- Vacancy in the Indianapolis metro drifted upward by 30 basis points.
- The Indianapolis metro had the highest vacancy level since year-end 2021.
Office
The average Vacancy Rate was 21.8% in the Indianapolis metro
- Vacancy in the Indianapolis metro rose by 70 basis points.
- The Indianapolis metro had the highest vacancy level since Q1 1997.
- Vacancy is expected to finish 2024 at 22.0% in the Indianapolis metro.
Retail
The average Vacancy Rate was 16.8% in the Indianapolis metro
- Vacancy in the Indianapolis metro drifted upward by 40 basis points.
- The Indianapolis metro had the highest vacancy level since year-end 1994.
- Vacancy is expected to finish 2024 at 15.8% in the Indianapolis metro.
RENT
Apartment
The average Asking Rent was $1,129 in the Indianapolis metro
- Rent in the Indianapolis metro was down 0.6% from year-end 2023.
- Rent is expected to finish 2024 at $1,149 in the Indianapolis metro.
Distribution / Warehousing
The average Asking Rent was $5.80 in the Indianapolis metro
- Rent in the Indianapolis metro was up 0.2% from year-end 2023.
- Rent has risen in every quarter since year-end 2020 in the Indianapolis metro.
- Rent is expected to finish 2024 at $6.00 in the Indianapolis metro.
Flex / R&D
The average Asking Rent was $8.78 in the Indianapolis metro
- Rent in the Indianapolis metro was up 0.3% from year-end 2023.
- Rent has risen in every quarter since year-end 2020 in the Indianapolis metro.
- Rent is expected to finish 2024 at $9.07 in the Indianapolis metro.
Office
The average Asking Rent was $20.54 in the Indianapolis metro
- The Indianapolis metro remained flat rent since year-end 2023.
- Rent is expected to finish 2024 at $20.68 in the Indianapolis metro.
Retail
The average Asking Rent was $15.75 in the Indianapolis metro
- Rent in the Indianapolis metro was down 0.1% from year-end 2023.
- Rent is expected to finish 2024 at $15.87 in the Indianapolis metro.
VACANCY
Apartment
The average Vacancy Rate was 6.0% in the Louisville metro
- No vacancy change since year-end 2023 in the Louisville metro.
- The Louisville metro had the highest vacancy level since year-end 2021.
- Vacancy is expected to finish 2024 at 6.2% in the Louisville metro.
Distribution / Warehousing
The average Vacancy Rate was 7.6% in the Louisville metro
- Vacancy in the Louisville metro rose by 150 basis points.
- The Louisville metro had the highest vacancy level since Q3 2021.
- Vacancy is expected to finish 2024 at 7.4% in the Louisville metro.
Office
The average Vacancy Rate was 21.1% in the Louisville metro
- No vacancy change since year-end 2023 in the Louisville metro.
- The Louisville metro had the highest vacancy level since Q3 1999.
- Vacancy is expected to finish 2024 at 21.3% in the Louisville metro.
Retail
The average Vacancy Rate was 11.2% in the Louisville metro
- Vacancy in the Louisville metro increased by 110 basis points.
- The Louisville metro had the highest vacancy level since Q3 1999.
- Vacancy is expected to finish 2024 at 10.4% in the Louisville metro.
RENT
Apartment
The average Asking Rent was $1,000 in the Louisville metro
- Rent in the Louisville metro was down 0.6% from year-end 2023.
- Rent is expected to finish 2024 at $1,014 in the Louisville metro.
Distribution / Warehousing
The average Asking Rent was $5.59 in the Louisville metro
- Rent in the Louisville metro was up 0.4% from year-end 2023.
- Rent has risen in every quarter since year-end 2020 in the Louisville metro.
- Rent is expected to finish 2024 at $5.74 in the Louisville metro.
Office
The average Asking Rent was $18.10 in the Louisville metro
- Rent in the Louisville metro was up 0.7% from year-end 2023.
- Louisville metro had its fastest rent rate of increase in ten quarters.
- Rent is expected to finish 2024 at $18.11 in the Louisville metro.
Retail
The average Asking Rent was $17.58 in the Louisville metro
- Rent in the Louisville metro was down 0.1% from year-end 2023.
- Rent is expected to finish 2024 at $17.77 in the Louisville metro.