Noblesville, IN Rental & Sales Market Report – May 2025

Noblesville continues to deliver as one of the most attractive rental markets in the Indianapolis metro. May 2025 data shows stable rental demand, low vacancy, and strong year-over-year growth in average rent. While the sales market shows early signs of softening, real estate remains competitive with low days on market and strong absorption.

🏘️ Rental Market Overview – Noblesville

• Active Rentals: 69 listings (⬇ ~15% month-over-month)
• Average Rent: $2,100 (⬆ 8% year-over-year)
• Days on Market: 36 days (⬇ 5.25%)
• Price per Sq Ft (Single-Family): $1.00

With inventory dropping and average rent continuing to climb, Noblesville is becoming increasingly competitive for investors. Properties managed by Red Door Property Management consistently outperform local averages in both lease-up speed and pricing strategy.

Apartments & Condos Snapshot:

• Apartments: 49 units at $1,666 average rent, $1.42/sq ft
• Condos: 3 units at $2,600 average rent, 109 days on market, $1.09/sq ft

The condo rental market remains a challenge in Noblesville, with long vacancy durations and premium pricing. Investors should be cautious with condo acquisitions over $2,500/month unless exceptionally located or upgraded.

📈 Real Estate Sales Market – Noblesville

• Average Sales Price: Declining slightly month-over-month
• Days on Market: 22 (⬇ MoM)
• Price per Sq Ft: $182
• Total Homes Sold: 92

For the first time in months, Noblesville’s sales market saw a slight drop in price. However, homes are still moving quickly, with an average of just 22 days on market. This may be a transition period, and as we move into peak season, we’ll closely monitor if this is an anomaly or part of a broader trend.

🔗 Resources for Noblesville Investors

• Noblesville Property Management
• Explore Rentals in Noblesville & Nearby
• Airbnb Management Services in Noblesville

To maximize your returns and navigate the Noblesville rental landscape with confidence, connect with our team at Red Door Property Management.

• Transcript Here

  
  

  
  

  📍 Noblesville Rental Market: Strong and Steady

  All right, let's get into Noblesville. I'm going to take this one too—I love Noblesville. I often jump right to the days on market, and it's exactly what I'm going to do now. It's at 36—a very healthy 36 days. If your properties are with Red Door, you're beating that in the Noblesville area without a doubt.

  But aside from just patting ourselves on the back, let's get into the numbers for the May 2025 rental market update for Noblesville.

  • Number of active homes: 69
    This is down almost 15% month-over-month. The market is definitely tightening.

  • Average rental price: $2,100
    This is nearly flat month-over-month but up almost 8% year-over-year. Rental prices are steadily increasing.

  • Average days on market: 36
    Down 5.25% compared to last month.

  • Price per square foot: $1.00

  We have nearly the same number of apartments available in Noblesville as in Fishers, which is interesting because you don’t see nearly as many apartments in Noblesville. There are:

  • 49 active apartments at an average rate of $1,666
    (Yes, scary number—1666!)

  • Price per square foot for apartments: $1.42

  Condos in Noblesville:

  • 3 active condos

  • Average price: $2,600

  • Average days on market: 109
    (Avoid renting a condo in Noblesville—especially over $2,500.)

  All those graphs that track long-term data are available on our social media channels. If you look at last year, it was a rollercoaster. This year, we’re seeing much more consistent numbers.

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  📈 Sales Market in Noblesville: Mixed Signals Emerging

  Let’s see if this strong rental market translates to the sales side.

  • Average days on market: 22
    Consistent with prior reports, and even down month-over-month.

  • Price per square foot: $182

  • Average sales price:
    We’re seeing a decrease month-over-month. We're actually lower than we were last year. It’s interesting and will be important to monitor as we get into the peak of the sales season.

  • Number of homes sold: 92

  We’re noticing intersecting trend lines in the data—a clear signal worth watching. This could indicate a market shift. The average days on market are still incredibly low at 22, suggesting homes are still selling fast despite some downward pressure on prices.

  This echoes what we saw in Fishers, with a slight price decrease. It’s not yet a trend, but something to monitor through June, July, and August.

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  🧩 Market Insight: Is Inventory Making a Comeback?

  The real story may be inventory. Over the past few years, it's been all about a lack of inventory. Now we’re starting to see a potential increase—not necessarily a flood, but it’s enough to merit attention.

  We might want to add a new graph to these reports showing inventory vs. number of homes sold, which could help visualize how inventory is impacting pricing and time on market.

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  📊 Investor Tools: Where Are Homes Selling?

  The graph showing number of homes sold by price range is a valuable investor tool. It highlights:

  • How many homes sold under $500,000

  • Exactly where those sales occurred by price band

  It’s a powerful way to assess what it might cost to invest and how much competition there is at each price point.