NAICS 53

Real Estate and Rental and Leasing in Indianapolis-Carmel-Greenwood, IN

Metro Market Score 67.1 (Difficult), ranked #308 of 330 metros. 3,221 establishments, 16,162 jobs.

Metro Market Score 67.1

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Difficult

ⓘ Lower is better. Relative to national real estate and rental and leasing average.

💰High-Cost Market

Indianapolis-Carmel-Greenwood's real estate and rental and leasing sector saw employment decline over the past year (growth trend: 18.5). That contraction, combined with a 67.1 market score, puts this metro in the bottom 10% for market conditions. Understand why the local market is shrinking before committing.

Industry Concentration

71.5

LQ: 0.95

Rank #236 of 330 metros

Wage Competitiveness

85.8

$70,172 avg wage

Growth Trend

↓ 18.5

Employment growth index

Rank #270 of 330 metros

Wage Pressure

16.4

YoY wage change index

3,221 Real Estate and Rental and Leasing Firms in Indianapolis-Carmel-Greenwood

3,221

Establishments

+3.6% YoY

16,162

Total Employment

-3.6% YoY

$70,172

Average Annual Wage

+3.1% YoY

0.95

Location Quotient

Below national avg

Within Indiana

#9 of 9

real estate and rental and leasing metros in state

Indiana state rank

#10 of 51

for real estate and rental and leasing entry risk

vs State Median

+30.5

worse than median (36.6)

Indianapolis-Carmel-Greenwood vs Indiana Statewide

How this metro's real estate and rental and leasing market compares to Indiana overall. The state ranks #10/51 for entry risk.

Measure	Indianapolis-Carmel-Greenwood	IN Statewide
Overall Score	67.1 Difficult	30.2 Moderate
Score Type	Metro Market Score	Entry Risk Score
Rank	#308 of 330 metros	#10 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Indianapolis-Carmel-Greenwood

Retail Trade 45.2 Construction 51.4 Administrative and Support Services 65.9

Real Estate and Rental and Leasing in Other Indiana Metros

Columbus 12.6 #5/330 Kokomo 20.5 #26/330 Elkhart-Goshen 21.4 #29/330 Fort Wayne 34.1 #89/330 Evansville 36.6 #110/330 South Bend-Mishawaka 38.7 #127/330 Michigan City-La Porte 39.1 #132/330 Muncie 47.6 #199/330

Real Estate and Rental and Leasing Metros With Similar Conditions

Metros within 5 points of Indianapolis-Carmel-Greenwood's 67.1 score. Useful when comparing markets with comparable entry profiles.

Barnstable Town, MA 67.0 #307/330 Boston-Cambridge-Newton, MA 66.6 #306/330 Boulder, CO 66.6 #305/330 Casper, WY 67.6 #309/330 Kalamazoo-Portage, MI 67.6 #310/330 Rochester, NY 68.3 #311/330 Denver-Aurora-Centennial, CO 68.3 #312/330 Panama City-Panama City Beach, FL 65.4 #304/330 Cape Coral-Fort Myers, FL 68.8 #313/330 Bozeman, MT 65.3 #303/330

Real Estate and Rental and Leasing in States Bordering Indiana

State-level entry risk for real estate and rental and leasing in adjacent states. Use this to weigh cross-border options.

Kentucky 30.3 #11/51 Ohio 33.2 #14/51 Michigan 39.3 #26/51 Illinois 44.3 #33/51

Browse Real Estate and Rental and Leasing in Other States

State-level entry risk reports for real estate and rental and leasing across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Indianapolis-Carmel-Greenwood's real estate and rental and leasing sector, the employment growth component (81.5) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Indianapolis-Carmel-Greenwood, IN MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment