News Sections
Indiana Rental Housing Market Booming
Updated May 5, 2013 12:09 AM | Filed under: Network Indiana
 Print    Archive    RSS

(UNDATED) - From home ownership in favor of renting apartments or real estate experts say Indiana's rental housing market is booming.

That's compared to new single family home ownership across the state.

One firm that tracks the top 50 rental properties in Indianapolis says occupancies jumped by 4% from 2009 to 2010.

Rental property occupancies went up from 91.5% to 95.5% during that period.

Steven Lamotte, Senior Vice President of CB Richard Ellis says there are several factors: home foreclosures, many families are downsizing houses, current renters are staying put rather than buying homes and a record number of college graduates are delaying buying homes in favor of renting.

Lamotte says the trend is driven in large part by the current economic slump and transcends demographics.

He says Fort Wayne, Lafayette, West Lafayette, Columbus and the Evansville markets are also seeing significant rental property growth across the board.

The rental occupancy rate for in Indianapolis during the first quarter of 2011 was 95%.

« Previous Article
Next Article »

 Print    Archive    RSS

Have a question or comment about a news story? Send it to

Advertise with 1340 AM WBIW
Find more about Weather in Bedford, IN
Advertise with 1340 AM WBIW

1340 AM WBIW, Bedford's Place To Talk. Serving Lawrence and surrounding counties since 1948!

© 2018 Ad-Venture Media, Inc. All Rights Reserved. and Listen Live Powered by HPC

Advertise  |  Careers  |  Contests  |  About  |  Feedback  |  Public File