Noblesville Rental Market Report – August 2025
Noblesville remains a prime Northside play. Inventory tightened this month, but rents slid on late-summer seasonality (and a touch of new-build competition). Clean, well-priced homes still move—especially when lease expirations are timed for peak season.
Rental Market Snapshot (Single-Family)
- Active rentals: 84 (down MoM)
- Average rent: ~$2,330 (−6.4% MoM)
- Average days on market: ~41 (up; late-summer slowdown showing)
- Avg. price per sq. ft.: ~$1.16
- Apartments: 40 active; avg rent ~$1,648; ~$1.53 psf
- Condos: 8 active; avg rent ~$2,238; DOM ~64; ~$1.63 psf
Trend watch: Amenity-rich multifamily continues to draw interest, but detached homes retain durable demand from households prioritizing space, yards, and privacy. Expect renters to trade back toward single-family as affordability normalizes.
Sales Market (Investor Lens: ≤ $500k)
- Average DOM: ~37 (up, but still healthy)
- Average sales price: ~$350,516 (ticking up)
- Homes sold: 89 (down MoM)
Acquisition bands: The sweet spot for rental underwriting remains $250k–$350k—where 3 bed / 2 bath, ~1,500–1,800 sq ft homes can balance rentability with manageable cap-ex. Pair sharp purchase pricing with realistic rent comps (and seasonal timing) to protect your yield.
Actionable Plays for Investors
- Price into today’s comps: With DOM rising, lead at market and adjust quickly based on showings/inquiries.
- Fix your lease timeline: Use 8–9 month terms now to align renewals/turns into May–July peak.
- Stand out vs. new-builds: Win with condition (fresh paint, flooring touch-ups), pro photos, and fast maintenance response.
- Underwrite conservatively: Assume modest rent growth through winter; re-rate in spring when demand rebounds.
Need local execution? See our Noblesville property management, scan live comps via homes for rent, or connect with Red Door Property Management to underwrite your next buy.
Transcript Here
0:00 — Noblesville Rental Market Update
Let's get into the Noblesville market. We talked about market sentiment on the front end of this portion of the podcast—the rental market updates for August 2025—and we’ll see if it holds here in Noblesville. Number of active homes: 84. That’s down, which is different from some earlier markets where we were up month over month. Average rental price at 2,333—it's ticking down. That makes three in a row now; we’re down 6.4% month over month. Very likely seasonality, though I do think saturation could be playing a role because there’s a lot of new construction in these areas. Not saying it’s a factor yet—could simply be seasonality (which I’m sure Mike would say)—but it’s something to watch as we keep tracking month over month. Average days on market: 41, ticking up, which to me supports the seasonality angle. Average price per square foot: $1.16.
Apartments and condos: apartments show 40 available, with an average rent of $1,648 and $1.53 per square foot. Condos: 8 available, $2,238 average rent, 64 days on market, and $1.63 per square foot. Down in the graphs, Noblesville’s line looks a bit squiggly, though the 2025 (dark blue) does begin to stabilize a bit.
Let me dovetail off the apartments/condos note: we’re seeing more of those developments, and renting is trending up even in older demographics. Do those amenity-rich complexes (pools, pickleball, fitness centers, indoor hoops) keep pushing rents?
I do think that continues—but there’s always a group that wants space: a yard, fewer shared walls, no stairs. So you’ll have renters who chase amenities and another group that prefers single-family living.
Right, and that’s where I land: I think the amenities boom is partly a short-term trend fueled by the affordability crunch. As that levels out, I think people swing back toward single-family—privacy and space win out once the numbers normalize.
Sure. Yep.4:05 — Noblesville Sales Market Update
All right, Noblesville sales data. Average days on market: 37—up, so yes, listings are sticking a bit longer, though 37 is still a very solid number. Average price per square foot holds the story together (and, yes, it still backs my argument—just saying). Average sales price: $350,516, ticking up—hey, look at that! We’ve actually got a market showing an upward move here. I keep saying Noblesville’s a great market; used to be more affordable, but at $350k it’s tracking right alongside Fishers these days. Number of homes sold: 89, which is ticking down. The “average sales price over time” graph illustrates the last ~18 months, and the “number of homes sold” chart (bottom right) shows what you’d need to spend to enter the Noblesville market, tracking everything under $500k.
Yeah, I’d say this one bucks your prediction a little, Chris—37 DOM and prices up. Noblesville’s always been a good market, and it still is. I love it. Got a couple myself there. Love it.
Yeah. All right, here we go.
