Occupancy, rent on the rise in many central Indiana cities

GREENWOOD, Ind. -- Apartments for rent are becoming harder to find and a little more expensive in many of central Indiana’s most popular communities – including Brownsburg, Carmel, and Greenwood.

While you might find several signs in Greenwood that advertise apartments “for rent,” that doesn’t necessarily mean there are a lot of openings in that complex.

In Greenwood, numbers show that more than 94% of the apartments are occupied, and that number continues to rise as more and more people seem to be settling into some of Central Indiana’s smaller communities.

People like David and Amanda Ingram, who are looking to move to Greenwood’s south side from Dayton.

 “I think just the cost of living is the advantage of Greenwood,” said David. “You can probably save 20 percent of everybody else and get the same amount of options.”

At Honey Creek apartments, there are currently three open rentals. The complex is 98 percent full, and Community Manager Tracy Bays said that isn’t unusual for them.

“The area is just booming right now with new stores and restaurants. We have Center Grove Schools, which is a 5-star and a big draw,” said Bays.

According to Tikijian Associates, the percentage of occupied apartments in Greenwood is higher than the Indianapolis metro area, Carmel, Westfield, Zionsville, Fishers and even Noblesville.

But it’s still lower than the national average of 95 percent.

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Tikijian reports that the average rent for a two-bed, two-bath apartment is currently $830. That’s up 5 percent since 2009. 

Watch the video above for the story of a central Indiana couple on the hunt for a place to live. 

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