How closely do you follow new construction in the Indianapolis MSA?
There are currently 386 existing, planned, and under construction self storage facilities in the Indianapolis MSA, totaling 16,179,838square feet.
The Indianapolis MSA is home to over 1.76 million, making it the 34th largest MSA in the country. Indianapolis’s population is growing at a steady rate of 0.65% in the last year. Last year the area had a job growth rate of 2.6% with the median income in Indianapolis being $57,000 in 2016.
If you are self storage owner or looking to get into the business in the Indianapolis area it’s important to understand where new facilities are being built and planned for in order to come up with the best strategy for your business.