Fishers, Indiana Short-Term Rental Market
Fishers, IN STRs need a UDO 5.4.6(D) license, separate from the city's long-term rental registry. June 2026 area ADR was $196.
Quick Answer: Fishers, Indiana is an active short-term rental market. average occupancy in the Indianapolis market area is 64%. average monthly revenue in the Indianapolis market area is $3,557. average daily rate in the Indianapolis market area is $196.
Market data reflects the Indianapolis regional market, which includes Fishers. Regulations, taxes, and permit details below are specific to Fishers.
Market Overview
Fishers regulates short-term rentals under Unified Development Ordinance (UDO) Section 5.4.6(D), a separate track from the citywide long-term rental registration ordinance that took effect January 1, 2026 (which registers single-family long-term rentals and caps them at 10% per subdivision). STRs are not covered by that long-term cap; they remain governed solely by UDO 5.4.6(D), which sets occupancy limits tied to bedroom count, off-street parking requirements, noise restrictions, and periodic building-safety inspection. Reporting from a secondary source indicates no application fee currently, though that could not be confirmed against the primary ordinance; Indiana state law (IC 36-1-24) caps local STR permit fees and bars outright local bans.
Fishers is an affluent, fast-growing Indianapolis suburb in Hamilton County, the wealthiest county in Indiana, population 102,337. Hamilton County hosts more than 5 million visitors annually with visitor spending exceeding $1.2 billion in 2024, and Fishers is one of the county’s anchor destinations.
StaySTRA tracks Fishers’s ADR, occupancy, and revenue at a shared regional level with Lebanon, Sheridan, Whiteland, and Zionsville, all Indianapolis-metro communities, so the figures below describe the Indianapolis metro area STR market. In June 2026, the Indianapolis metro area STR market posted a blended ADR of $196.43 and 63.5% occupancy, with average monthly revenue of $3,557/listing. Occupancy is up 12.82 percentage points, ADR is up 12.33%, and revenue is up 18.55% year over year, a notably strong across-the-board gain.
Listing-tier ADR, property-type revenue, bedroom mix, listing-type breakdown, and top-property-manager data are not currently published for this market, so this profile omits those breakdowns.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 47% | $117 | $1,574 |
| Feb | 52% | $120 | $1,597 |
| Mar | 55% | $134 | $1,987 |
| Apr | 56% | $146 | $2,156 |
| May | 60% | $166 | $2,560 |
| Jun | 61% | $154 | $2,647 |
| Jul | 64% | $152 | $2,633 |
| Aug | 55% | $154 | $2,367 |
| Sep | 54% | $131 | $1,961 |
| Oct | 57% | $140 | $2,177 |
| Nov | 54% | $142 | $2,071 |
| Dec | 51% | $135 | $1,974 |
Investment Analysis
Fishers is generally considered welcoming to STR hosts, with UDO 5.4.6(D) as the operative permit track rather than the city’s stricter long-term rental cap. Owner-occupancy or primary-residence requirements were not confirmed in primary sources for STRs specifically, so investors should verify current status directly with Fishers Planning & Zoning before assuming either way.
Listing-tier ADR and property-type revenue data are not currently published for this market, so a tier-by-tier comparison isn’t possible here. Using StaySTRA’s seasonal-sum method, a typical listing in this Indianapolis metro area cluster generates roughly $25,704/year in revenue. Housing-value data is not currently published for Fishers in this snapshot, so a gross-yield calculation against local home prices isn’t possible here.
On taxes, rentals under 30 days owe the Hamilton County innkeeper’s tax of 8% (raised from 5% effective January 1, 2024) plus Indiana’s 7% state sales tax, roughly 15% combined; Fishers itself levies no additional local STR tax.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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This Indianapolis metro market’s bookings data (lead time, length of stay) are not currently published for this market, so this profile can’t quantify how far in advance guests book or typical stay length.
What the seasonal data does show: demand concentrates from May through July (56-64% occupancy), tied to the Fishers Event Center (opened 2024) and Indianapolis-area summer events, with January the softest month.
Short-Term Rental Regulations
Short-term rentals are legal in Fishers, Indiana, and the city is generally considered welcoming to Airbnb and VRBO hosts. Operators must obtain a short-term rental license from the city under Unified Development Ordinance (UDO) Section 5.4.6(D), submitting proof of ownership, floor plans, and evidence of building-code compliance, and submitting to periodic inspections. Reporting from a secondary STR guide indicates no current application or permit fee, though this could not be confirmed against the primary ordinance; Indiana state law (IC 36-1-24) caps local STR permit fees and bars outright bans regardless.
Importantly, STRs are not covered by the separate citywide long-term rental registration ordinance that took effect January 1, 2026 (which registers single-family long-term rentals and caps them at 10% per subdivision); STRs remain governed solely by UDO 5.4.6(D).
On taxes, rentals under 30 days owe the Hamilton County innkeeper’s tax of 8% (raised from 5% effective January 1, 2024) plus Indiana’s 7% state sales tax, roughly 15% combined; Fishers itself levies no additional local STR tax. UDO standards include occupancy limits tied to bedroom count, off-street parking, noise limits, and safety compliance. Enforcement is rated moderate and complaint-driven, focused on noise, overcrowding, and safety rather than aggressive shutdowns. Owner-occupancy or primary-residence requirements and any annual night caps were not confirmed in primary sources; investors should verify directly with the City of Fishers Planning & Zoning department.
Market Comparison
The Indianapolis metro area STR market’s June 2026 occupancy of 63.5% runs above the commonly cited US STR median of roughly 55%, while its $196.43 blended ADR sits below the roughly $220 US median, a higher-occupancy, value-rate profile.
Top-property-manager data is not currently published uniquely for Fishers in this snapshot (tracked at a shared regional level with Lebanon, Sheridan, Whiteland, and Zionsville instead), so this profile omits a named-operator comparison.
Frequently Asked Questions About Fishers, Indiana
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