Tracking Indy residents who daydream about moving away
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Prospective homeowners in the Indianapolis area are searching for housing anywhere they can find it — even if that means leaving.
Why it matters: Once-affordable areas are becoming out of reach, and some buyers are eyeing cheaper markets despite metros trying to boost their populations.
- A growing resident headcount means more economic activity, higher tax revenue, a larger workforce and an increase to an area's desirability.
Zoom in: According to a Realtor.com report, close to 65% of listing views from shoppers living in the Indianapolis metro went to homes out-of-market during the second quarter of 2025.
- That's a notable jump from 47% recorded during the same period in 2019, and 23rd highest when compared to the 100 largest U.S. metros.
The big picture: The significant share of home shoppers daydreaming about departing the Circle City is potentially disheartening news for local leaders focused on strengthening Indianapolis' core by adding more people.
- During last month's State of Downtown event, Downtown Indy Alliance president and CEO Taylor Schaffer announced an ambitious goal of increasing the population in Mile Square by 20,000 people, or 65%, over the next 10 years.
- Downtown's population has increased about 6% since 2023, to 30,467 people.
- Across Marion County, the population grew by 2.4% from 2019-2023, while neighboring counties saw increases in the double digits.
What they're saying: "We need to be targeted and deliberate in using downtown, one of our city's best assets and our fastest-growing neighborhood to spur the growth of Indianapolis," Schaffer said. "Ultimately, a stronger, more livable downtown benefits everyone."
Zoom out: In Q2, an average of 59% of Realtor.com listing views from the biggest 100 metros went to out-of-market homes.
- That's up from 48% in Q2 2019, before remote work and cheap mortgages sent droves of homebuyers to lower-cost areas like Phoenix, Miami and Charleston, South Carolina.
- While cost and work are major factors, other shoppers say they're moving in search of better weather.
Reality check: One website's listing views don't necessarily equal real-life home purchases.
- Many shoppers, particularly first-timers, simply don't have the funds.
- And plenty of homeowners are reluctant to move because it would mean giving up a low mortgage rate.
The intrigue: Those living in Western metros were most likely to view out-of-market listings, with 65% doing so in Q2, researchers found.
- Midwest residents were found to be the least likely at 54%, meaning Indy is bucking the trend.
Go deeper: Buying an Indy home requires $25,000 more income than renting.