Indianapolis Multifamily Market Report | Q1 2025

Market Overview

Indianapolis, the capital of Indiana, has a population of approximately 880,000 residents and is the core of a metro area exceeding 2.1 million. Known for its affordability and stable economic base, the city continues to attract in-migration from more expensive regions. Major employers include Eli Lilly and Company, IU Health, Anthem Inc., and FedEx, with strong job growth in logistics, life sciences, and insurance. Higher education institutions like IUPUI, Butler University, and the University of Indianapolis contribute to a well-educated local workforce. The multifamily market remained resilient in Q1 2025, with solid occupancy and investor interest in suburban and value-add properties.

About Colliers

Colliers International is a leading global real estate services and investment management firm, founded in 1976 and headquartered in Toronto. With more than 19,000 professionals operating in over 65 countries, Colliers delivers a full suite of services, including leasing, capital markets, property management, and valuation. In 2024, the firm reported revenues of $4.6 billion. Colliers’ Indianapolis multifamily report benefits from the firm’s robust national research platform, providing operators and investors with timely, local market insights backed by global expertise.