Fishers Rental Market Report – August 2025
Fishers continues its post-pandemic resurgence. With a rental cap ordinance tightening future supply and strong community amenities driving demand, the market rewards clean presentation, precise pricing, and smart lease timing.
Rental Market Snapshot (Single-Family)
- Active rentals: 136 (~+25% MoM)
- Average rent: ~$2,300 (−0.25% MoM)
- Average days on market (DOM): ~35 (healthy for late summer)
- Avg. price per sq. ft.: ~$1.00
- Apartments: 36 active; avg rent ~$1,783; ~$1.58 psf
- Condos: 18 active; DOM ~44; ~$1.13 psf
Seasonality still rules: historical patterns show ~$360/mo spread between winter and peak summer rents (e.g., ~Jan vs. ~Jun). If you’re leasing now, consider 8–9 month terms to realign expirations into May–July and capture peak pricing next cycle.
Sales Market (Investor Lens: ≤ $500k)
- Average DOM: ~25 (up MoM but still fast—Fishers is liquid)
- Avg. price per sq. ft.: ~$188 (easing MoM)
- Average sales price: down MoM (negotiating power improving)
- Homes sold: 121 (up MoM)
Entry price sweet spot: The $250k–$300k band remains the workhorse for rental acquisitions here—~126 sales closed in that range. Well-kept 3 bed / 2 bath homes in established neighborhoods continue to rent quickly when priced to the latest comps.
What This Means for Investors
- Price with precision: Inventory is up, so lead with today’s comps and adjust quickly if showings lag.
- Win on timing: Use 8–9 month leases now to land future renewals or turnovers in peak summer.
- Mind the ordinance: The Fishers rental cap favors owners who are already permitted and compliant—lock this down early to avoid surprises.
- Shop acquisitions now: Slight MoM softness in sale prices + low DOM = a rare combo of selection and speed.
Need local execution? Explore our Fishers property management services, benchmark pricing against live inventory on Indianapolis homes for rent, or connect with our investor team at Red Door Property Management for underwriting and permit guidance.
Transcript Here
0:00 — Fishers Rental Market Update
All right, Fisers. Uh, this one's mine. And, uh, I'm telling you, Fisers has has come back. I mean, a year ago, we were like, stay away from Fisers. Uh, boy, was that a mistake, man. If we knew the the ordinance was coming, man. Yeah. You would scoop up properties as quick as possible a year ago. But anyway, let's get into some of the data here, uh, and see if the sentiment that we were talking about on the front end of the podcast rings to be true. All right, number of active homes. Uh you've got 136 active homes which is is up up uh over 25%. Uh average rental price at 2300 which is down. Uh so I mean it's only down a quarter of a percent but um but it's down over month. Average days on market is uh is ticking up 30 a very very healthy 35 average price per square foot at a dollar. Uh you've got your apartments there and your condos. Uh let's go over apartments here. 36 apartments on the market at 1783 $158 per square foot. Uh and your condos there 18 2345 44 of those uh oh sorry 44 average days on the market 18 of them on the market. 44 average days. Uh but that's at a$13 average price per square foot. Uh some of my favorite graphs here is where you can track them over time there in the bottom. So, single family homes, uh, we see that uptick here in September. We got our sneak peek into September, which so don't don't believe everything you see there with that dramatic upturn, but, uh, it definitely looks stable and it looks like it's staying pretty consistent with last year's trend. So, maybe seasonality is more of a thing than, uh, than I thought. So, um, yeah, your average rental price, let's see if it remains around 2,300 or if it'll continue to slightly tick down due to due to saturation. Fischers is probably not the market where you're going to have a saturation issue, though.
No, especially with the uh rental cap going into uh going into effect, but uh just uh on seasonality, I take a look at 2024. So, that's a kind of a typical graph, right? But look at the difference in price. And we talk about this all the time, but you know, it's it's this is August data. We're in September. Still pretty warm out, but prices are going to continue to go down for the next 3 to four months. And it's pretty predictable. Uh and look at the difference between January and what is that? June. So January is what roughly 2040, I think, and then it peaks in June at 2400. I mean, that is a huge huge price difference. Um so get on that spring and summer cycle. If you have a vacancy now, do what you need to do to get that filled. Do an eight-month lease, do a nine-month lease. Uh, but you really want to try to be in that uh May, June, and July cycle if at all possible because I mean, according to this graphic, it can mean the difference between 360 bucks a month. And that's huge.
Beautiful advice. Yes. Beautiful advice. You're looking at a 16-month, 18-month lease, uh, is what you're looking at if you're signing one this time of year. Uh, 100%. Yes. Yes. Uh, so hopefully you're working with a property management company who's advising that. Which is which is funny because um, you know, obviously this time of year, those are the conversations I'm having with with new inquiries. Um, is look, no matter who you go with, those are the type of leases that you should be looking at. Um, and just this this week alone, one that immediately comes to mind, but maybe even a couple, but one uh immediately was like their property manager advised against that. I Yeah, I know, right? I know. It was mind-blowing. Um, I have no idea what would lead them to to suggest against that. I don't know if it was fee related. Um, I don't know what it was, but and I don't want to disclose who it was, but it's um yeah, they advised against that. So, working with the right property management company can make the difference. And this is so here we go again. Right. So, this is why you should not just base it off of 8% versus 9%.
Yeah, you're crazy. If you're doing that, you're crazy.
Well, and it's this is why we do this podcast. It's like, well, I don't if you get conflicting information. We're just giving you the information to make an educated decision. You can you can choose yourself what to believe, but I'm showing you here in this graph that it's going to make a $360 a month difference if you sign a lease in June versus sign a lease in January. So, you can derive from that what you want.
Exactly. Yeah. Yeah. Exactly. We're just relaying the information and hopefully you're working with somebody who knows how to interpret that information so that they can maximize because honestly uh this is a bit selfish here too that $300 a month our monthly fee is percentage based. We want to achieve that that higher monthly rent too. So I mean although it does generate a higher return for you, it generates a higher return for us. Anyway, you want to be working with a property manager who knows how to interpret number one knows is aware of this data, let alone knows how to interpret it so that it it results in the highest RORI. All right, this is the uh this is the rental market update, not the the individual segment part of the podcast.
I know, I know, I know.5:00 — Fishers Sales Market Update
All right, here we go. Let's get into the sales information for August 2025 in the Fisers market. All right, your average days on market, it's ticking up. Here it is. It's ticking up. I mean, it's 25, right? So it's like it's like who cares? It ticked up like two days which resulted in 31%.
Exactly.
So your average days on markets at 25. Uh month over month you're up 31 a.5%. Uh but that's that's nothing. This is a crazy good market and I know that there are people picking up properties as quick as they possibly can uh in this market. Average price per square foot at 188 which is ticking down. Your average sales price. This is this is shocking. It's down month over month. So, I mean, even I mean, this is exactly the market sentiment that we were talking about. We so far we're only in market report number two, but we're seeing it, right? We're seeing it. Indianapolis and Fischers is seeing it. Okay. Home sold 121, which is which is up month over month. So, that's it's weird. Um, it's weird. Average sales price over time. Uh, you can kind of check out that that graph. Uh, kind of you can see what was happening last year versus this year, which is which is awesome data. But one of our favorite uh parts of this entire graph is the bottom right hand corner where you're talking about the number of homes sold and the price points in which you can enter that market. Uh and again, this is we only track homes that sell for $500,000 or less because there's uh very likely not to be any investor who's looking at uh throwing 500 thou over $500,000 in any um investment type property. So you can see uh where you can still get into the Fischer market. still 126 sold between $250 and $300,000 which I think is the sweet spot of this market if you can find a good property. So that's uh that's our Fischer market update. Mike, you want to chime in on any of the sales information?
Not too much other than just a little caveat on the sales price over time and the you know you had to throw a jab in there about the uh month-over-month average sales price. I will say uh July had a little bit of a blip. If you look at the trend line, it's it's still going up. So there was it is a I will give it to you. There is a month over month but the trend line right there is up from the beginning of the year.
Okay. The ceiling is falling.
All right. Let's get into the next one. Here we go.
