Fishers, Indiana, has implemented a rental cap ordinance capping long-term rentals at 10% per subdivision, effective January 1, 2026, to mitigate the impact of out-of-state investors on local communities. Over 2,500 single-family homes are currently rented in Fishers, with a significant portion owned by external investors. Local officials, including Mayor Scott Fadness, emphasized the importance of homeownership for building generational wealth and preserving neighborhood integrity in light of the rapid growth of corporate and out-of-area buyers in many U.S. cities.
In Fishers, more than 2,500 single-family homes are rented, with out-of-state landlords owning 1,186 and corporate investors owning 583. This change impacts neighborhood dynamics.
Mayor Scott Fadness highlighted a housing study that revealed an unusually large growth of investor-owned properties, particularly from out-of-state investors, altering neighborhood characteristics.
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