Greenwood July 2025 Rental & Sales Market Report
Greenwood continues to shine as one of the most stable and affordable investment markets on the south side of Indianapolis. July 2025 data shows steady rental rates, strong buyer activity, and plenty of affordable entry points for both new and seasoned investors. With solid schools and ongoing new construction, Greenwood is attracting both renters and long-term investors alike.
Rental Market — Greenwood (July 2025)
- Active rental homes: 106 (+8% MoM)
- Average rent (SFH): $1,995 (flat MoM; +3.5% YoY)
- Average days on market: 40 (still within normal range)
- Price per sq. ft. (SFH): $1.08
- Apartments & condos: 38 available; average rent $1,260; ~$1.35/sq. ft.
- Townhomes: Only 5 active; average rent $1,599; 43 DOM; ~$1.26/sq. ft.
Investor takeaway: Greenwood’s rental market is “boring but awesome”—steady rents, reasonable lease-up times, and reliable year-over-year growth. A great option for investors looking for consistency with lower volatility than northern suburbs.
Sales Market — Greenwood (July 2025)
- Average sales price: steadily increasing year-over-year, currently $334,000+ range
- Average days on market: 26 (very fast-paced sales cycle)
- Average price per sq. ft.: $169
- Number of homes sold: 93 (slightly down MoM, but consistent with available inventory)
Year-over-year appreciation in Greenwood has rivaled S&P 500 returns, making it one of the strongest-performing suburbs for long-term investors. Demand remains robust thanks to affordability and ongoing development activity in the area.
Investor Entry Points
Greenwood offers some of the widest affordability among Indianapolis suburbs:
- 0–$200K: 82 homes sold last month
- $200K–$250K: 230 homes sold — the “sweet spot” for 3 bed / 2 bath ranches ideal for rentals
- $250K–$300K: Another strong price band for investors targeting steady, long-term tenants
Compared to northern suburbs like Noblesville and Westfield, Greenwood offers investors more affordable options without sacrificing tenant demand or appreciation potential.
Outlook & Key Insights
- Rental rates are stable, trending up moderately year-over-year.
- Sales activity remains very strong with 26 DOM—proof of continued demand.
- Affordability keeps Greenwood especially attractive to first-time buyers and renters, supporting long-term rental stability.
To maximize ROI in this stable south-side market, work with a management partner who understands both new construction leasing and long-term rental dynamics. Explore our Greenwood property management services, browse Indianapolis homes for rent, or connect with our team at Red Door Property Management.
Transcript Here
00:08 Greenwood Rental Market Update
All right, we've got Greenwood. All right, I love Greenwood. Everyone knows um this is this is your brother, your sister to uh Noblesville. And uh let's get into some of these numbers. 106 active homes up over 8%. Average rental price at $19.95, which is actually uh pretty static compared to the previous months. Uh no increase, no decrease, but you are up over three and a half% year-over-year. Average days on market at 40. That's got to be a blip, which 40 is nothing that I'm I'm overly concerned about because I'm working with a professional property management company that's keeping me afforded uh along the way. So, I'm definitely beating that number. But 40 is nothing that's that's going to scare me away. Average price per square foot at 108.
Uh your apartments, condos, town homes, they're listed neatly below. Let's go over the apartments in c in condos. They're at 38 1260 as a uh average rental rate at $135 uh per square foot. Now again in Noblesville, we had very low number of town homes and the same thing here in Greenwood. So, uh, the only thing that's different is your town homes are much lower average rental rate than they were in Noblesville. Noblesville had a much higher average rental rate than your compared to your single family homes. So, we've got five uh there in the Greenwood area at an average rental rate at 1599. Uh, 43 average days on the market at $1.26 price per square foot.
And uh, in the graphs there in the bottom uh, that kind of give you an overview of overtime, what's what's going on in this market. These are going to be uh compiled together for all of these markets in a nice consumable graphic and posted to all of our social media channels uh that are neatly displayed there at the bottom of this graphic. So you can go search those out so that you can compare one market to another. But uh to the Greenwood market, it's it's stable here over the seasonality months. Greenwood's got a also a pretty good school system. Uh so we're going to see if seasonality just continues to be a factor and it's going to take a little bit of a dip. Uh now that schools are off and running, we're going to get into the fall season. Uh so this is this is stable. This is uh a growing a growing market. Lot of construction. Uh active homes is ticking up like these other stable markets that we've already gone through. This is fine. This is this is nothing nothing overly um anxious or excited to highlight here.
You Yeah, it's kind of like uh boring but awesome because it is boring. Yeah, it's year-over-year. Look, that price graph looks great. It's over 2024. Um I mean there's not much to say, but it's it's just a consistent good market. It's it's just good. Yeah, it's good. It's good. It's good. There's a lot of things going going going on in the south side of Indianapolis, too. So, um yeah. Yeah. Stay tuned on this market if you're a new investor, for sure.
03:00 Greenwood Sales Market Update
All right, let's get into um Oh, which which I will mention. We're about to get into the sales data here, but uh it's obvious that a lot of investors are being driven to Greenwood. for signing on, continually signing on uh new home construction that's happening in the Greenwood area. Uh and and again, it's important for you to be informed of in our previous month's podcast, I went into highlight some experiences that we were actively having with with some some owners. So, go back check that out uh and and get some perspective on what's happening on the ground with new construction uh investors and and tampering expectations and um how to make sure that you're successful if you find that you're one of those investors as well.
All right, let's get into the sales data here. Average days on market, 26 days on the market. Gez, they're flying off the shelf here in Greenwood. Average price per square foot, $169. Average sales price continues to tick up. Look at that. Year-over-year, you've made you've made S&P 500 uh returns on just appreciation. Yeah, on just appreciation here in Greenwood, let alone if you're lucky enough to be able to cash flow. My gosh. Uh and you're hedge against inflation. Uh Greenwood's a stellar market.
Homes sold 93 homes, uh which is ticking down month over month, but um yeah, that's that's consistent with the number of homes that you have on the market here in the Greenwood area. Average sales price over time. It's consistent. It's consistently ticking up is what it's doing.
Uh number of homes sold. So, this is with all the other stellar numbers that we're seeing in this market. I was excited to get to this graph. So, um how much do I need to spend to get into this market? Well, at 200 to 250, which if you've reviewed any of our previous uh market reports, that's really the sweet spot as far as my advice on on the price point that you should probably spend no matter what market you're getting into. That's the price point that I would suggest looking at. It's a sweet little three-bedroom, two bath ranch, 16-800 square foot that's uh that's low maintenance over time, makes makes out a really really good long-term investment property and should be able to be found within that price point. And 230 of them were just sold last month.
So, uh if if your pocketbook is not quite that that large, which I understand, it's hard for me to get there myself. So, look at that. 0 to 200,000. It's beautiful. 82 of them. 82 of them are sold. So, uh it's not that you can't get into this market if if you can't afford that price point. Uh but so so there is possibilities um at at each each one of those price points and that's that's the number of homes that have sold in those price points the previous month. That's your Greenwood market.
Mike, anything you want to add there?
No, just to kind of echo on the uh that bottom right graph. I'm so glad we added that this year because it it's tells such a good story because like it seems like every market we go to in terms of the suburbs like Noblesville, we just went over Noblesville, Fisers, and Westfield, right? They're all like in that like 330 is the average sales price. So, if we just go on that, you would think, oh, well, they're all kind of the same. But no, that bottom right graph will show you that uh you know, if you go back to Westfield, it was like, you know, it was like 3 to 350 was kind of like the the meat of the market. But here you can see that, you know, Greenwood is I don't want to say more affordable market, but there's there's more affordable homes to be had here for if you're, you know, if you're looking from an investor point of view and you go, "Well, I don't want to spend 350." Well, you you can get in for under 200. And this graph shows it to you.And it's not just a couple. Uh like there's a couple in Westfield, you know, for under under 250, but it's like five. You're going to fight for those. Yeah. Yeah. They're they're they're probably condos or they're just a lot of work needed or whatever, but there's there's a good amount under 200. There's a lot under 250. So, it's uh definitely uh you know, I wouldn't call it a a bargain market, but it's it's a little bit more affordable than some of these other areas. And so, I just I love that bottom right graph because it just quickly can tell that story. And so, there's that's I think that's why we're seeing investors invest into it because it's a great area and it's still relatively affordable.
Exactly. Yeah, that's exactly right. Yep.
All right, that's good. Let's jump into the next one, shall we?
