Last updated on March 17th, 2023
Best Cities to Airbnb near Indianapolis
Key Takeaways
- Indianapolis is known as the racing capital of the world and host to other major sporting events, making it a haven for adrenaline junkies. Property investors can get equally pumped up in looking for the best real estate investment in Indianapolis.
- Indianapolis investment properties have staggering prices, but short-term rental data analytics can help investors maximize returns from their Airbnb properties.
Introduction
The high housing prices in Indianapolis make investors race for the most profitable short-term rental properties in the racing capital of the world. While it does not have to be this stressful, a lot of investors haven’t tapped into short-term rental data analytics.
This is most helpful in narrowing down prospective properties according to prices, occupancy rate, and rental revenue among others. Without data analytics, looking for rental properties can be an aimless pursuit.
So gas up your car because we are about to point you to the best real estate investments in Indianapolis and nearby cities!
Is Indianapolis good for real estate investment?
Yes, Indianapolis is excellent for real estate investment and short-term rental is the way to go! According to Airbtics’ Insight Tool, Indianapolis has 1,718 active Airbnb listings. An Airbnb host in this city can expect an average annual revenue of $28,438 and an occupancy rate of 55%. Continue reading this blog to find out which property size gives the highest annual revenue.
There are other reasons why you should consider investing in Indianapolis. You can rest assured that your investment property is located in a good city due to the following indicators:
- Multi-sector economy – Indianapolis has multiple profitable industries such as education, healthcare, and financial services which contribute to the city’s economy. Aside from these sectors, tourism is also a primary contributor to Indianapolis’ growth being a host to major sporting events that attract visitors from all over the world.
- Strong workforce – While Indianapolis is one of the most densely populated cities in the US, its workforce remains strong with a low unemployment rate. Employment is still expected to grow until 2024 with an annual rate of 2.9%.
If you still can’t afford an Indianapolis investment real estate, you can still earn passive income via rental arbitrage.
Best Cities to Airbnb Near Indianapolis
Airbtics Discovery Tool provides a few Indianapolis real estate investing leads by filtering the best areas for Airbnb in and around the city. This feature shows the following areas:
1. Indianapolis
- Best bedroom size: 2 bedrooms
- Median property price: $152,871
- Airbnb annual revenue: $46,072
- Gross rental yield: 30.14%
2. Cincinnati
- Best bedroom size: 3 bedrooms
- Median property price: $221,368
- Airbnb annual revenue: $53,521
- Gross rental yield: 24.18%
- Distance from Indianapolis: 98 miles
3. Louisville
- Best bedroom size: 3 bedrooms
- Median property price: $232,828
- Airbnb annual revenue: $73,499
- Gross rental yield: 31.57%
- Distance from Indianapolis: 112 miles
4. South Bend
- Best bedroom size: 4 bedrooms
- Median property price: $228,200
- Airbnb annual revenue: $100,778
- Gross rental yield: 44.16%
- Distance from Indianapolis: 132 miles
5. Lexington-Fayette
- Best bedroom size: 3 bedrooms
- Median property price: $256,253
- Airbnb annual revenue: $52,373
- Gross rental yield: 20.44%
- Distance from Indianapolis: 150 miles
6. Chicago
- Best bedroom size: 4 bedrooms
- Median property price: $373,320
- Airbnb annual revenue: $109,551
- Gross rental yield: 29.35%
- Distance from Indianapolis: 164 miles
7. Columbus
- Best bedroom size: 2 bedrooms
- Median property price: $175,283
- Airbnb annual revenue: $35,006
- Gross rental yield: 19.97%
- Distance from Indianapolis: 169 miles
8. Ann Arbor
- Best bedroom size: 3 bedrooms
- Median property price: $426,436
- Airbnb annual revenue: $117,991
- Gross rental yield: 27.67%
- Distance from Indianapolis: 210 miles
9. Saint Louis
- Best bedroom size: 3 bedrooms
- Median property price: $220,689
- Airbnb annual revenue: $51,100
- Gross rental yield: 23.15%
- Distance from Indianapolis: 232 miles
10. Detroit
- Best bedroom size: 2 bedrooms
- Median property price: $56,492
- Airbnb annual revenue: $31,489
- Gross rental yield: 55.74%
- Distance from Indianapolis: 240 miles
Conclusion
The powerful Airbtics Discovery Tool has provided useful and accurate data to help investors in their investment decisions. If you’re in hot pursuit of your prospective Airbnb market, Airbtics Discovery Tool will pull out key data to make you arrive at the best property investment. This is not only exclusive to Indianapolis and nearby cities. Just type in your preferred market, and you will have the data in no time!
Wanna know if you’re pricing your Airbnb right? Check out our free short-term rental calculator!
Explore The Most Profitable Airbnb Locations Near Indianapolis
Ramon Meris is a content writer for Airbtics. Guided by data analytics, he produces articles on various US short-term rental markets. Outside work, he is a reader, animal lover, and foreign language learner.
