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FAQs
Population trends1.8% and a rental vacancy rate of 10.5% from a total of 17,434 units.
What is the average cost of housing in Indianapolis? ›
Indianapolis, IN housing market$275K , trending up 1.9% year-over-year. The median listing home price per square foot was $149. The median home sold price was $255K.
At what age can you rent an apartment in Indiana? ›
What is the legal age to rent an apartment in Indiana? - Quora. 18 years old . But most landlords won't rent to an 18 year old without a cosigner to guarantee the rent, because they don't have a rental history that the landlord can consult to make sure they will pay their rent.
How do I file a complaint against a landlord in Indiana? ›
You can contact FHCCI by calling 317-644-0673 or emailing info@fhcci.org for assistance with your landlord complaint.
What is the average rent increase per year in Indianapolis? ›
Indianapolis rents are flat month-over-month and up 1.4% year-over-year.
What is an acceptable vacancy rate? ›
Analyzing vacancy ratesbetween 5-10% may be considered healthy, implying a balance between supply and demand.
What is needed to rent a house in Indiana? ›
REQUIREMENTS
Credit Score. All applicants must have a FICO score of 550 or higher. ... Income Requirement. PROOF OF INCOME SHOWING THE APPLICANT MAKES 3x THE RENTAL AMOUNT AFTER TAXES. ... Bankruptcy. ... Eviction History. ... Rental History. ... Criminal Background. ... Security Deposit.
What can't a landlord do in Indiana? ›
Failing to Provide a Habitable Living Environment
What rights do tenants have without a lease in Indiana? ›
Indiana tenants without a lease have rights like habitability, verbal agreements, and protection against illegal eviction and discrimination .
What is an example of a fair housing violation? ›
For example, providing different terms and conditions to potential tenants for similar rental properties, charging higher rent for those with service animals than those with no pets, or asking for a higher security deposit due to familial status of someone with children are all considered discriminatory.
Landlords are typically required to give proper notice to their tenants if they plan on entering the property. If they do not give this notice, then they do not have legal access to enter the property. If a landlord does enter the tenant's unit without notice, especially more than once , it is considered harassment.
What is considered landlord retaliation in Indiana? ›
Examples of Landlord RetaliationIncreasing the rent . Decreasing services or not performing necessary repairs in the rental unit. Claiming there was no security deposit or not returning a security deposit. Ending a month-to-month tenancy.
What is the best vacancy rate? ›
A “good” vacancy rate helps ensure neighborhoods are desirable and affordable and varies depending on the rental and housing market of a given town or city. Typically, this rate is between 5–8% .
How do I track vacancy rates? ›
In order to determine your vacancy rate, simply multiply your number of vacant units by 100, then divide by the total number of units you own or manage . This gives you a number to express as a percentage. That percentage is your vacancy rate.
Where is the lowest vacancy rate in the US? ›
Cities with the lowest rental vacancy rates
MSA Vacancy rate in Q4 2022 North Port-Bradenton-Sarasota, Florida 2.3% Omaha-Council Bluffs, Nebraska-Iowa 2.3% Fresno, California 2.4% Sacramento-Roseville-Arden-Arcade, California 2.5%
1 more row Mar 9, 2023
What is the natural vacancy rate? ›
The natural vacancy rate is a rate at which change in real rents is zero . It is assumed that factors such as government regulations have, over time, affected the market.
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