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Portable Tenant Screening Report: A Comprehensive Guide
Discover the benefits and considerations of Portable Tenant Screening Reports (PTSRs), which offer a cost-effective, reusable screening option for tenants and require...
The Indianapolis Rental Market Trend Report analyzes four key data points: active listing growth, renter lead growth, average renter leads per property, and the average rent price for two-bedroom listings.
Active listings in Indianapolis fluctuated throughout 2020 but interestingly saw a significant increase in active listings in March at 57% – unlike many cities across the U.S. that saw decreases when the pandemic started. The most considerable growth in active listings occurred in July with a jump of 129%, and the lowest drop was in February 2020, with a decrease of 60%. The start of 2021 saw a decrease of 17% in January. However, we saw a slight increase in February and a considerable spike in March at 77%. April was down by 18% but was followed by a 45% increase in May.
Renter leads in Indianapolis fluctuated throughout the year with significant increases and decreases. In March through June, renter leads waned but saw a considerable increase as the summer progressed, with a substantial jump in August and the highest growth in March of 2021 at 1,333%. The lowest change month-over-month was in 2021, with a decrease of 78% in February.
Average leads per property fell significantly in 2021, with February posting the lowest average for over a year at five. The highest average leads per property were reported in February 2020 at 56 – a 51-point difference from this year. However, similarly to renter leads, we saw a dramatic increase in March, up to 41 leads per property followed by another decrease, down to 24 in April and 27 for May.
The average rent amount for a two-bedroom listing in Indianapolis is extremely low for June 2021, at almost half the amount we saw last year. A spike in rent was seen in August 2020 at $1,248. After August, rent began to fall but stayed close to $900. February 2021 reported the highest rent of 2021 reported so far.
We will continue to update this data every month. If you have data requirements that are outside the scope of this article, please email [email protected]. We have ongoing data collection and are happy to supply another data set if it is available. Check out all of our COVID-19 landlord resources here.
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