Noblesville, Indiana Short-Term Rental Market
The Noblesville, IN area STR market averaged $197 a night at 63.5% occupancy in June 2026, revenue up 18.6% yearly.
Quick Answer: Noblesville, 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 $3,561. average daily rate in the Indianapolis market area is $197. the top operator in the Indianapolis market area is Casual Nomad with 156 listings. market score is 82/100 (grade B).
Market data reflects the Indianapolis regional market, which includes Noblesville. Regulations, taxes, and permit details below are specific to Noblesville.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Noblesville, IN is the seat of Hamilton County, one of Indiana’s fastest-growing and most affluent counties, just north of Indianapolis, with 73,362 residents. Its marquee draw is the Ruoff Music Center, the largest outdoor amphitheater in the Midwest at roughly 24,000 capacity and repeatedly ranked the world’s top-selling amphitheater, drawing hundreds of thousands of concertgoers each summer. Hamilton County as a whole hosts more than 5 million visitors annually, who spent over $1.2 billion in 2024.
Listing-level inventory counts, bedroom mix, and market-score benchmarks are tracked at a shared regional level rather than uniquely for Noblesville, so this profile omits those figures rather than present regional numbers as city-specific. All occupancy, rate, and revenue figures below describe the Noblesville, IN area STR market rather than the city in strict isolation.
In the most recent month of data (June 2026), the Noblesville area STR market posted an average daily rate of $196.81 and average occupancy of 63.54%. Average monthly revenue per listing was $3,561, with apartment-style listings averaging $3,645 a month, essentially matching or slightly exceeding standalone houses at $3,555, an unusual reversal from most markets in this data set where houses typically command a premium. Entire-place listings led all property types at $3,933.
Year over year, occupancy jumped 12.8 percentage points, average daily rate rose 1.2%, and revenue per listing climbed 18.6%, one of the larger year-over-year gains in this data set, driven overwhelmingly by more nights booked rather than higher nightly rates. That pairing of a large occupancy gain with a much smaller rate increase suggests operators may have priced more competitively to capture the added demand rather than raising rates to match it.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 47% | $117 | $1,574 |
| Feb | 52% | $120 | $1,597 |
| Mar | 55% | $134 | $1,988 |
| Apr | 56% | $146 | $2,157 |
| May | 60% | $166 | $2,562 |
| Jun | 61% | $155 | $2,649 |
| Jul | 64% | $152 | $2,635 |
| Aug | 55% | $154 | $2,367 |
| Sep | 54% | $131 | $1,961 |
| Oct | 57% | $140 | $2,177 |
| Nov | 54% | $142 | $2,072 |
| Dec | 51% | $135 | $1,973 |
Top Short-Term Rental Operators in Indianapolis market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Indianapolis market as a whole, which includes Noblesville, so these counts are not Noblesville-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Casual Nomad | 156 | 3,959 | ★ 4.32 |
| 2 | Evolve | 115 | 3,064 | ★ 4.35 |
| 3 | Home Base | 101 | 3,883 | ★ 4.61 |
| 4 | Landing, Inc. | 97 | 178 | ★ 3.83 |
| 5 | Deane – Fake Listings | 92 | 12 | ★ 4.70 |
What Kind of STR Should I Buy in Noblesville?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,586 |
| 2 bed | 1,753 |
| 3 bed | 1,573 |
| 4 bed | 768 |
| 5 bed | 383 |
ADR by Property Tier
| Entire Home | $218 |
| Luxury | $317 |
| Professionally Managed | $201 |
Revenue by Dwelling Type
| Apartment | $3,645 |
| Entire Place | $3,933 |
| House | $3,555 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 55.1% |
| vrbo | 5.2% |
| both | 39.7% |
Investment Analysis
Zillow’s typical home value for the Noblesville area is $397,221, with a median sale price of $374,150 against a median list price of $402,267, homes selling at 93.0% of list price with a median 9 days to pending. Against the $3,561 average monthly revenue per listing, about $42,737 annualized, that works out to a gross short-term rental yield of roughly 10.8% of the typical home value.
Revenue growth here is almost entirely occupancy-driven: occupancy rose 12.8 percentage points year over year, while average daily rate rose just 1.2%, for an 18.6% jump in revenue per listing. Pricing tiers show a notably narrow spread at the professionally managed level: the all-listing average daily rate of $196.81 compares to just $201.00 for professionally managed listings, only about 2% above the all-listing average, a smaller premium than in most markets in this data set. The luxury tier still commands $317.19, a 61% premium over the market average.
On the regulatory side, Indiana’s statewide preemption law protects short-term rental of an owner’s primary residence as a permitted use that cities cannot ban, but non-owner-occupied investment STRs in Noblesville may require a discretionary special exception, special use, or zoning variance, a distinction investors should confirm before assuming an as-of-right purchase.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Guests book Noblesville area short-term rentals an average of 47.9 days in advance, and the average length of stay is 4.13 nights. That lead time gives operators a reasonable window to plan pricing around specific Ruoff Music Center concert dates and the broader May-through-September concert season.
At a 4.13-night average stay, a fully booked calendar works out to roughly 88 turnovers a year, a moderate cleaning and turnover cadence spread across a comparatively long demand season rather than concentrated into just one or two peak months. Given the market’s dependence on a specific concert venue’s schedule, operators who track Ruoff Music Center’s announced show calendar directly are likely to capture more event-driven demand spikes than those relying on generic seasonal pricing. The roughly seven-week average lead time also gives enough runway to adjust rates once a specific show’s ticket sales signal how much extra demand a given weekend will bring.
Short-Term Rental Regulations
Noblesville has no dedicated short-term rental ordinance, permit, or registration program. STRs operate under the city’s general Unified Development Ordinance, residential zoning, and parking and nuisance code, enforced reactively by code enforcement on a complaint basis.
Indiana’s statewide preemption law, House Bill 1035 of 2018, is the controlling framework: cities cannot ban short-term rentals, and renting out an owner’s primary residence is a protected, permitted residential use. If a city later adopts its own STR ordinance, state law caps initial permit fees at $150. For a property that is not the owner’s primary residence, however, Indiana law allows a local government to require a special exception, special use, or zoning variance, meaning a pure investment property used as an STR may need discretionary zoning approval even though there is no blanket citywide permit system.
On taxes, operators owe Hamilton County’s innkeeper’s lodging tax of 8%, raised from 5% effective January 1, 2024, on stays under 30 days, plus Indiana’s 7% state sales tax, for a combined rate of roughly 15% on the rental price including cleaning and guest fees; Airbnb and VRBO often collect these directly. There is no citywide cap on nights per year. Enforcement is rated minimal, and investors should confirm current requirements with the Noblesville Planning Department before purchasing a non-owner-occupied property intended for STR use.
Market Comparison
Noblesville’s 63.54% average occupancy in the latest month runs well above the roughly 55% median occupancy typically seen across the broader US short-term rental market, while its $196.81 average daily rate sits below the roughly $220 national median, reflecting a market with above-average demand at a below-average nightly rate, consistent with its position as an Indianapolis-metro suburb rather than a premium leisure destination.
Property manager rankings and total listing counts for this market are tracked at a shared regional level rather than distinctly for Noblesville, so this profile omits a market-specific operator breakdown rather than present shared data as city-specific. Investors evaluating a Noblesville-area property should request current, address-specific management proposals rather than rely on any regional operator ranking. Given the market’s above-average occupancy at a below-average rate, operators focused on capturing the luxury and entire-home segments described above are better positioned than those competing purely on volume.
Frequently Asked Questions About Noblesville, Indiana
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