Multifamily Investors Target Indiana

INDIANAPOLIS—Indiana has become known as one of the nation’s top logistics and distribution hubs. But a new report by CBRE’s Midwest multifamily group shows that the strengthening economy has also meant stable growth in the state’s multifamily market. The report, called Multifamily Market Overview: The State of Indiana covers Anderson, Bloomington, Columbus, Evansville, Fort Wayne, Kokomo, Lafayette, West Lafayette, Muncie in addition to the Indianapolis metro area.

Although CBRE researchers found that some of these markets experienced a slight year-over-year decline in occupancy, the overall occupancy for the state was 94.1%. Furthermore, rental rates increased in nearly all of the markets, proof of the state’s overall stability, according to Steve LaMotte, Jr., senior vice president at CBRE’s Indianapolis office and member of its Midwest multifamily team.