Article Summary
Speedway's unique identity as home of the Indianapolis Motor Speedway creates special rental opportunities. High cap rates, affordable entry, and event-driven demand.
Speedway is unlike any other Indianapolis suburb. This small, incorporated town wraps around the Indianapolis Motor Speedway, giving it a unique identity and rental market dynamics.
What Makes Speedway Special
Speedway's compact, walkable Main Street has undergone significant revitalization with new restaurants, breweries, and shops. The Indianapolis Motor Speedway drives massive tourism, and the town's affordable housing attracts young professionals priced out of Broad Ripple and SoBro.
Key Market Statistics (2026)
- Average 3BR Rent: $1,350/month (+6% YoY)
- Vacancy Rate: 5.0%
- Median Home Price: $185,000
- Average Cap Rate: 8.5-10.5%
- Population: 12,500+
- School Rating: 6/10 (GreatSchools)
Neighborhoods & Opportunities
Main Street Corridor
Revitalized downtown with walkable amenities. Homes and duplexes rent $1,200-1,500/month. Strong demand from young professionals and restaurant/service workers.
North Speedway / Lynhurst Area
Residential neighborhoods with affordable homes ($150-200K). 3BR rents of $1,200-1,400/month. Solid working-class tenant base.
Race Day Rentals
Properties within walking distance of IMS can generate premium short-term rental income during May (Indy 500) and other race events. Some owners earn $3,000-8,000 during race month alone.
Management Considerations
- Event management: Race weekends bring traffic, parking, and noise. Communicate proactively with long-term tenants and set clear expectations.
- Short-term rental hybrid: Properties near IMS can be rented long-term with short-term rental carve-outs during events. This requires specialized management.
- Town regulations: Speedway has its own government separate from Indianapolis—different rules and enforcement.
- Gentrification dynamics: Speedway is gentrifying. Early investors benefit from appreciation but must navigate rising property taxes.
The Bottom Line
Speedway is the cash flow king of the Indianapolis metro with cap rates of 8.5-10.5% and the lowest entry prices. The IMS creates a unique short-term rental opportunity that can supercharge returns. Best for investors who want maximum cash flow with a unique upside angle.
