Greenwood Market Update – October 2025
Greenwood continues to stand out as one of the most consistent and dependable rental markets on the south side of Indianapolis. Often compared to Noblesville in terms of stability and demand, Greenwood offers investors a more affordable entry point while maintaining strong fundamentals.
Rental Market Overview
Rental activity in Greenwood remains healthy despite a noticeable increase in available inventory. Demand continues to support rising rents, and days on market remain very reasonable for this time of year.
- Active Homes: 132 (up 30% month over month)
- Average Rent: $1,975 (up just under 8.25% year over year)
- Average Days on Market: 39
- Price per Sq Ft: $0.95
While 39 days on market may seem high to newer investors, this is considered very healthy heading into late fall. With professional pricing and proactive management, many properties are leasing faster than the market average.
Rental pricing remains well above last year’s levels, and seasonal softening appears to be the primary driver behind any short-term fluctuations rather than a demand issue.
Sales Market Overview
Greenwood’s sales market reinforces its reputation as one of the most accessible markets for investors looking to enter or expand within the Indianapolis metro area.
- Average Days on Market: 37
- Average Price per Sq Ft: $172
- Average Sales Price: $325,703
- Homes Sold: 102
Although sales volume is down both month over month and year over year, pricing remains stable and predictable. This slowdown is more reflective of seasonal timing than any structural weakness in the market.
Affordability & Investor Entry Points
Greenwood continues to offer one of the strongest affordability profiles in Central Indiana:
- 83 homes sold under $200,000 in the past year
- Strong inventory in entry-level price ranges
- Lower acquisition costs compared to Hamilton County markets
For newer investors or those looking to scale portfolios without excessive leverage, Greenwood remains an attractive option—especially for long-term rentals and select short-term rental strategies on the south side.
Investor Outlook
Greenwood is a market defined by balance. Strong schools, consistent demand, and stable pricing make it a reliable choice for investors prioritizing steady performance over speculative growth.
As affordability challenges continue in higher-priced suburbs, Greenwood is well-positioned to trend further in the direction of Noblesville—without the same acquisition barriers.
Transcript Here
Preview — 0:00
It’s just a good, consistent market. It always has been. It’s a solid market. Like you said, there are so many similarities to Noblesville just on the south side. Strong demand, good schools, good market.
Rental Data — 0:12
All right, let’s talk about Greenwood. Greenwood has always been the stepbrother — I know I’ve used a lot of family terms today — so it’s like the brother or sister or stepbrother of Noblesville. It’s closely related to Noblesville. Greenwood is ultimately going to trend in the Noblesville direction. It’s an affordable area where we’ve seen a lot of success on short-term rentals on the south side of Indianapolis as they get closer to Greenwood. That’s a helpful tip.
Let’s go over the data. There are 132 active homes on the market, up 30% month over month. Average rental price is $1,975, continuing to tick up at a very healthy rate, up just under 8.25% year over year. Average days on market are 39, which I think is the healthiest we’ve seen yet given the time of year. Thirty-nine might not feel stellar if you’re a new investor, but if you’re working with a reputable management company that keeps communication open and consistent, you’re beating that no problem. Average price per square foot is $0.95.
You then get into apartments, condos, and townhomes — all that information is there. What I love to look at are the graphs at the bottom. Once we wrap up the podcast, our editor will put all of those graphics together in a nice, consumable page and post them across our social media channels. Be sure to check those out.
Looking at the single-family homes graph, we’re still well above where we were last year. We’re up and trending due to seasonality as we head into November. That’s based on early data, so the trend line could still change.
Anything you want to add to Greenwood?
Mike: It’s just a good, consistent market. It always has been. Solid market. Strong demand, good schools.
Sales Data — 2:34
Greenwood sales data: average days on market are 37. Average price per square foot is $172. Average sales price is $325,703. This is still a more affordable market to get into.
Number of homes sold is 102, down month over month and down over 14% year over year. The average sales price over time graph is a great indicator of trend lines so you can get ahead and predict what might be coming in the next few months.
Looking at the number of homes sold by price point, this tells you how much you need to anticipate spending to enter the market. There were 83 homes sold between $0 and $200,000. Plenty of homes at very affordable price points for new investors wanting to enter Indianapolis and take advantage of the fact that Indianapolis continues to rank among the top markets for real estate investors.
We continue to move up. All right.
