It’s a great time to be a tenant in Indianapolis, according to a report from Forbes published in 2017. Last year, Indianapolis topped the popular business magazine’s list of best cities for renters in the United States.
Thanks to the city’s affordable rental prices, steady economic growth and stable job market, Forbes recognized Indianapolis as the best city in the nation to rent a home.
The study found that the average rent in Indianapolis is just over $800, which accounts for only 17% of the city’s median household income. This makes it the second most affordable city for renters in the nation. But affordability wasn’t the only metric Forbes considered in the study; the city’s rental availability helped Indianapolis earn the top spot on the list as well.
In 2017, Indianapolis had a 5.6% apartment vacancy rate, compared to the nationwide average of 3.9%. This means that prospective tenants in Indianapolis have more apartments to choose from when it comes time to search for a new home. Renters in Indianapolis can also rest easy thanks to the city’s remarkably low rate of price hikes. Rental prices increased by an average of just 2.5% between 2016 and 2017.
Looking for a new rental property to call home in Indianapolis? You’ve come to the right place! You can find a variety of attractive, affordable housing options in our portfolio at AMG Property Management. Browse our available rental properties online, or give us a call today to learn more about any of the properties you can find on our site.