Episode summary
Indianapolis is officially the fastest growing metro in America according to Bank of America's Q3 2025 migration study.
Max Moore and Tyler Lingle break down why Indy is beating Charlotte, Columbus, Miami and every major coast city in migration and affordability, and what that means if you own or want to own property here.
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Full transcript
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Bank of America just released this study proving India is the fastest growing metro in America. If you don't know who we are, my name is Max Moore joined by my co-host Tyler Lingle and we've helped over 400 people buy [music] and sell their homes in Indianapolis. Today, we're breaking down why Indianapolis is the fastest growing metro in America and [music] more importantly what that means for homeowners and investors. This study is a Q3 2025 like census data from the Bank of America where they're looking back on what is going on, what like plans have we put in place, how are they playing out, what's happening with you know home price to rent ratio, which cities are growing, which ones aren't and there's a ton of meat in this. So, if you haven't seen the study, we'll have it linked down below. Make sure to check it out. One of the main takeaways that I had is that job opportunity and pay here is like much nicer than what you can buy a home for. Meaning that to increase wealth over time is feasible. It's actually attainable. Like if you look at California, it's it's not even attainable to buy a shoebox for a million where here luxury starts at 400 and our income is like on average 3. times 3. 2 times more than that on average and and you can buy a home here. It's achievable. The American dream is achievable. What was one of the takeaways that you had? I think it's just insane number one just looking at this graph. I'm sure uh our producer can put it on the screen but it's Indy literally top and then I don't know Columbus I think second. Just like number one like these are just like kind of you think of them as like these small midsize cities like a Charlotte or something and we are dominating and look down at the very bottom Miami. And I can't help but think back to January 19th the national title game in Miami when the Hoosiers took down the Miami Hurricanes. It's very symbolic. I mean I'm kind of I'm being facetious but it is kind of symbolic of how everyone would expect Miami as the fastest one of the fastest growing cities and over decades in period of time it is but Indianapolis is subtly crushing the Midwest uh tech hubs of Columbus and Indy are subtly dominating and we are not getting the credit credit we I feel like have deserved until kind of this moment. So, I think you just kind of hit on it which is affordability with quality of life. Yeah. Right? There there is no better place in the country where you can have an amazing life, buy a house, have great schools, have four seasons where you're not just stuck in arid desert heat nonstop or disgusting humid weather every day. So, I think because we are so balanced and we still have major sports teams. We have the Indianapolis Colts. We have the Pacers. We also have the Indians and the Fuel. So, there's entertainment uh quality of life. You can buy a home for 400k a huge home with three four bedroom home uh and have a well-paying job and build a life for your family. So, if you were wanting to build a family uh if you're a single person, just want to just live it up. Yeah, maybe go to New York. Maybe go to Miami, right? But a lot of people are migrating here from those places because they want to build Plant roots. They got to plant roots. It's what it's time to plant roots. That's where we're at. And I and from a brand, right? If we think about the state Senate branding perspective like you know you've got your Nikes, your Adidas, your Lululemon, whatever you fancy, your LL Bean as Tyler's wearing over there. Um whatever your favorite brand is. If you think about all 50 states, you're like which one brands themselves well? I would say that Indiana is punching above their weight class and saying yo, what's up America? We're here. [snorts] And it's driven by entertainment. It's driven by sports. Driven by community. Um and what it really is like to be a Hoosier. It's like oh, we won't travel well. Okay, well look at any of those stadiums that we played uh the national championship in. Indiana's poor. Really? Tickets for like a thousand bucks and we were 80% of the stadium. So, I mean I think we did pretty good as far as mobilizing or everybody just drained their 401ks. I'm not sure. Um but as far as the brand goes, the recognition, we're like going up on the charts. The other thing I'll I'll mention uh that you didn't hit was like the inflation or recession proof. Quick pause here because if you own property in Indianapolis, your contractor matters more than you think. That's why we've consistently recommended Nick Giuliani and the team at Off Leash Construction. They handle everything from small repairs to full scale renovations and most importantly they do the things the right way. They have an insane new tool that lets you upload your inspection response and get a quote in minutes. Check the link in our bio to check it out and connect with Off Leash. All right, back to the show. It's illegal to say or not wise to say but I think we're recession proof. There's not much that can take us down. In fact, we actually go up when everybody else goes down. And why is that? Cuz everyone's broke and they're like where can I survive? Oh, I can go to the Midwest. Which is the best in the Midwest? Okay, let's go be a Hoosier. And then they come here thinking that uh it's just going to be a four or five year stay and they plant roots. And the amount of people I encounter on a daily basis like real life screw the study that are oh, I'm from California. Oh, I'm from here. We have somebody on our real estate team who's from California and the reason he moved here was for the affordability. And he has family here. By the family here? Oh, affordability also. So, they're just migrating in. And getting to see it in real time is so cool. What do you say to the people that are like yeah, we get it. It's affordable. Like so is Arkansas. So is Mississippi. Why the hell? Cuz we get these comments guys and we see the comments. Why the hell would I move to Indiana? They suck. It's so boring. It's all cornfields. What What is the response to that? You haven't been here then. You haven't seen Carmel in the last 20 years. You haven't seen Whitestown 12X. You haven't Downtown's transformed. I mean Bottleworks, Right. And so we have the the metro and then we have the supporting arms. And it's it's Circle City, right? It's literally a circle. The donut starts and it comes out and we're we aren't a small town. I mean as much as we have big city amenities but it's small town charm. Right. That That's kind of the brand of Indianapolis. And I think we have to give a lot of credit to Eli Lilly because there were times when people were fleeing the city. 1970s, 1980s. I mean we all moved to the 'burbs. My parents moved to the 'burbs. Everyone moved to the 'burbs. White flight. But Eli Lilly invested heavily in parks and museums and uh we became the amateur sports capital of the world in the 1980s and our mentor Rex likes to say we've been rebuilding back since like 1977 and he expected us to be here. We're the next Austin. We're the next Charlotte. Oh, haha. That's funny Roots guys. You're You're so biased biased. This is the proof. And we are going play There's literally a new skyscraper coming up and newer skyscrapers in the works with Simon Property Group, Hendricks Property Group. They are investing millions if not billions into our downtown. They don't miss. When they decide to invest that kind of colossal um n- capital uh employment infrastructure they've done their studies and they see the trends and I think a lot of people will think oh, people are moving from Terre Haute, they're moving from Muncie. They're moving from these backwaters Indianapolis small towns which they are. Um they absolutely are moving and urbanizing towards Indianapolis but look at this map which shows where people are migrating from. Number one, okay, Lafayette. We get it. A smaller Indiana town, a lot of people from Purdue. They get degrees uh engineering degrees, tech degrees and they move to Indianapolis. They realize they don't really like Purdue that much. Yeah. Yeah, they they switched to IU. Good for them. Uh number two, three, four, five, six all the rest will blow your mind. Washington D. C. , Houston, Texas, Los Angeles, San Francisco, New York, Seattle, Atlanta, San Diego and Reno. Most people will think I should leave Indianapolis to go to one of those cities. That is not what's happening. We are stealing people from those cities because they don't want to pay a million dollars to live in a shoebox and have to be house broke, never start a family and go to a job they hate. We have the opposite here. You can find a job you love because you have options. There's two jobs for every one people in in in Indianapolis was a stat I heard a couple years back. I think that's still true because we're recession proof. Uh it's it's just wild and we're not broke, right? and you're going to pay literally double if not triple our property taxes because they just can't fund their city. They can't fund their their government. They can't fund their schools. We don't have that problem because our economy is built on solid fundamentals. We've had the bigger fish like Eli Lilly um kind of as a staple providing employment, revenue, etc. And we've been building quietly in the shadows and now we're really not in the shadows anymore. Yeah. That's my take. All that's left to fix is the redways and if you want to come check out Hoosier hospitality and hit our charm, book a flight, come here and immediately when you step off the plane in the airport, you're going to be sold. And it starts from right there. So, a good time to come is right before our next master class. Check out the details [music] below. Make sure to subscribe. Peace. Peace.
Episode questions, answered
Quick answers from this guide.
What study named Indianapolis the fastest growing metro in America?
Bank of America released a Q3 2025 migration study that ranked Indianapolis as the fastest growing metro in the country. The study looks at census-style data covering migration trends, home price to rent ratios, and which cities are growing or shrinking.
Which cities are people leaving to move to Indianapolis?
According to the migration map discussed in the episode, people are moving to Indianapolis from Washington D.C., Houston, Los Angeles, San Francisco, New York, Seattle, Atlanta, San Diego, and Reno. Lafayette, Indiana also ranks near the top, largely driven by Purdue graduates seeking tech and engineering jobs in the city.
How does Indianapolis affordability compare to other major cities?
The hosts note that luxury homes in Indianapolis start around $400,000, while average household income is roughly 3.2 times the cost of entry-level homeownership. In contrast, cities like California offer million-dollar shoeboxes that make homeownership unattainable for most residents.
Why is Indianapolis considered recession proof?
The hosts argue that when economic downturns hit, people seek affordable places to live and Indianapolis consistently benefits from that migration. The city's economy is built on solid fundamentals anchored by major employers like Eli Lilly, which has provided stable employment and tax revenue for decades.
What role did Eli Lilly play in Indianapolis's growth?
During the urban flight of the 1970s and 1980s, Eli Lilly invested heavily in parks, museums, and civic infrastructure when much of the population was leaving for the suburbs. That long-term investment helped Indianapolis rebuild and positioned it for the growth it is experiencing today.
What major development projects are happening in downtown Indianapolis?
Simon Property Group and Hendricks Property Group are investing millions, if not billions, into downtown Indianapolis, including new skyscrapers currently under construction with more in the works. The hosts point to projects like Bottleworks as examples of how the downtown has already transformed significantly.
How does Indianapolis compare to Columbus and Charlotte in migration rankings?
The Bank of America study places Indianapolis at the top of the migration chart, with Columbus appearing second among comparable Midwest cities. The hosts note that cities like Charlotte and Miami, which many would expect to lead, rank well below Indianapolis in this study.
What quality of life factors are driving people to move to Indianapolis?
The hosts highlight affordable housing, four seasons, major professional sports teams including the Colts, Pacers, Indians, and Fuel, strong schools, and a balance of big-city amenities with small-town charm. They describe Indianapolis as a place where building a family and achieving homeownership are realistically attainable goals.