Learn what happens when out-of-state investors gobble up Indy homes

INDIANAPOLIS ( MIRROR INDY ) — If you rent a house in Indianapolis, there’s a decent chance you’re paying money every month to an out-of-state investor who owns the home.

That’s because about a quarter of the roughly 49,000 rental houses in Marion County are owned by investors from outside Indiana, according to the Fair Housing Center of Central Indiana . And the housing center says that number is growing.

Investors often make cash offers and outbid other homebuyers before flipping the house to rent, a 2023 IndyStar investigation found.

[Analysis finds that Indiana’s housing affordability gap is growing]

Private equity’s role in the housing market is part of the focus of Brendan Ballou’s book, “ Plunder: Private Equity’s Plan to Pillage America .”

He’ll discuss findings from his book and how people can address housing disparities during an event at 6:30 p.m. Aug. 13 at Indiana Landmarks, 1201 Central Ave.

The event — hosted by the fair housing center — includes an exhibit about private equity’s influence on the state’s housing market, as well as a Q&A with Ballou. The exhibit opens at 5:30 p.m.

The event is free, but registration is required.

If you go

What : Plunder: A Conversation About Private Equity

When : 6:30 p.m. Aug. 13 (arrive at 5:30 to see an exhibit about private equity)

Where : Indiana Landmarks, 1201 Central Ave.

Cost : Free, but registration is required

Mirror Indy reporter Tyler Fenwick covers economics. Contact him at 317-766-1406 or tyler.fenwick@mirrorindy.org. Follow him on X @ty_fenwick .