Indy ranked No. 4 hottest real estate market for 2024

Representing the Midwest, Indianapolis made Zillow’s list of hottest real estate markets for 2024 — among Cincinnati and Columbus.

INDY_Zillow hot housing markets_graphic_JAN2023

Indianapolis made the top five hottest housing markets for 2024.

Graphic via Zillow

The Circle City was ranked No. 4 on Zillow’s list of hot real estate markets in 2024. That’s right, Indy rose 13 spots in the ranks compared to 2023.

Zillow took the top 50 most populated metro areas and looked at factors like forecasted growth of home values and jobs, home construction, and the number of households with homeowners to determine where cities ranked.

Indy shares the top four spots alongside Columbus (hey, CBUStoday), Cincinnati, and Buffalo.

Other key findings include:

  • The typical home value in Indy is $217, 513.
  • Home values in Indy have increased by 1.5% over the last year.
  • The average rent is $1,317 for all bedrooms and property types.
  • The average amount of time a home spends on the market is 14 days.
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