Bank of America Study Identifies Indianapolis as Fast-Growing Major U.S. Metro

Study highlights how local innovations in culture, jobs, housing, and quality of life fuel lasting appeal in the Indianapolis region

INDIANPOLIS, IN, UNITED STATES, February 4, 2026 /EINPresswire.com/ -- A new Bank of America study finds Indianapolis among the fastest-growing metropolitan areas in the country for population inflows, outpacing many major U.S. metros for the second quarter in a row. The data positions Indianapolis as a leading Midwest metro for livability and long-term growth, even as overall domestic migration cools nationwide.

From walkable streets and a growing food scene to innovation districts, strong job opportunities, and an attainable cost of living, Indianapolis has emerged as a city where quality of life and economic opportunity align. Below are six contributing factors shaping Indianapolis into one of the most livable regions in the United States.

1) Trail-Enhanced Walkability and Active Transportation
Indianapolis’ commitment to improving urban mobility is reflected in the Cultural Trail, an 8+ mile network of protected bike and pedestrian paths that connect neighborhoods, parks, and business districts. Built through public-private partnerships, the trail is widely used and recognized as a significant urban infrastructure investment.

Complementing it, bike-share programs like Pacers Bikeshare and IndyRides passes for Marion County residents support active commuting and recreation, encouraging pedestrian-friendly development and access to walkable neighborhoods.

2) Innovation Embedded in Community
Indy’s 16 Tech Innovation District blends research, technology, and community partnerships with a clear focus on inclusive growth for the wider community. Designed as a place where startups, university labs, entrepreneurs, and community services intersect, the 60-acre district connects innovation directly to neighborhoods. Public gathering spaces, workforce programs, and partnerships with local institutions ensure residents can engage with and benefit from the activity happening there.

As a growing hub for life sciences, advanced manufacturing, and technology, 16 Tech supports job creation, talent development, and long-term economic activity while serving as an example of how innovation districts can integrate with local communities.

3) A Growing and Distinctive Restaurant Scene
Indianapolis continues to expand its distinctly Midwestern culinary identity with independent restaurants, incubator space for culinary entrepreneurs at food halls like The AMP at 16 Tech and The Garage, and locally sourced concepts that reflect both farm-to-table traditions and new culinary creativity.

The evolving food scene is tied to broader livability factors, including social gathering spaces, neighborhood revitalization, and a range of diverse dining options, which contribute to teh region’s appeal for residents considering relocation to Indianapolis.

4) Strong Job Growth and a Diverse Economy
Indianapolis’ job market is diversified and durable, anchored by healthcare, life sciences, and a growing tech sector. Unemployment rates remain relatively low, signaling steady demand for talent even amid broader economic shifts. Healthcare and life sciences are especially strong, with Indianapolis recognized nationally as a life sciences hub and Eli Lilly supporting approximately 14,000 local jobs.

Downtown Indianapolis supports dense employment clusters and major headquarters, including Roche Diagnostics and Cummins, while logistics and transportation employ over 100,000 workers regionally, supported by the region’s central location and infrastructure.

5) Affordable Housing Meets Quality of Life
While many markets continue to face mounting affordability challenges, Indianapolis offers attainable housing and a cost of living that remains within reach for many families and young professionals. The cost of living in Indianapolis is approximately 10 percent below the U.S. average, with housing costs about 23 percent lower.

This affordability allows residents to pursue homeownership, shorter commutes, and a higher quality of life without sacrificing urban amenities. For many households, Indianapolis offers long-term value rather than short-term affordability, helping fuel sustained population growth across the region.

6) Big-City Amenities with Everyday Livability
Indianapolis hosts national sports and entertainment events while maintaining the everyday livability that residents value. In recent years, the city hosted a record-breaking WWE Royal Rumble, its first WNBA All-Star Game, LIV Golf’s Indiana debut, and announced a $78 million Indiana Fever performance center. Regular stops from major touring artists like Taylor Swift further underscore Indianapolis’ cultural relevance.

Indianapolis continues to balance national visibility with accessible neighborhoods, manageable scale, and quality-of-life considerations.


About Indy Chamber
The Indy Chamber is the voice of business and economic development for the Indianapolis region. The Chamber advances inclusive growth by supporting businesses of all sizes, strengthening the talent pipeline, driving workforce and economic development initiatives, and championing policies and investments that enhance quality of life across Central Indiana. Through strategic partnerships with civic, corporate, and community leaders, the Indy Chamber works to position the region for long-term competitiveness, innovation, and shared success. Learn more at indychamber.com.

Angela Berardino
The Brouhaha Collective
+1 646-389-0086
Indy@thebrouhahacollective.com

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