Power availability in Indianapolis: time-to-power 29.4 months, as of 2026-10-02. Source: DC Hub.
Data Center Market Deep-Dive · 319 words · generated 2026-10-01 from live DC Hub data · DCPI live as of 2026-10-02
This analysis was written on 2026-10-01, when the Data Center Power Index for this market read 29.5. The index is recomputed through the day and reads 42.7 now — the figure above is the live one, and the narrative below describes the market as it stood when it was written.
DC Hub estimate: $150–$185 /kW/mo (250-500 kW (est.)), 2026-H2.
Asking base rent per kW of critical IT capacity. Electricity is normally billed separately (metered pass-through), plus cross-connects and one-time fees. Signed deals, term and size change the number. Source: DC Hub estimate. Between Chicago (CBRE North America Data Center Trends H1 2026 (250+ kW): $195-225) and Columbus; IN industrial power ~9.2 c/kWh (EIA via DC Hub).
Indianapolis's data center market remains underdeveloped relative to tier-one hubs, with tracked facilities totaling 610 MW across a fragmented operator base. DataBank leads with five facilities, while Netrality Data Centers, Data Centers, and DataBank, Ltd. each operate two sites. AWS maintains a single facility presence. The market has experienced recent policy headwinds: a data center moratorium advanced through Indianapolis municipal channels, and the DC Blox campus proposal—initially positioned as a significant expansion—was scaled back, signaling local resistance to rapid growth.
The DCPI verdict of "AVOID" warrants direct interpretation. The excess-power score of 49/100 indicates insufficient margin between available capacity and projected demand; coupled with a constraint rating of 52/100, the market presents structural challenges that elevate operational risk. For buyers and operators, this combination suggests elevated costs for power procurement and grid interconnection, compressed margins on new builds, and vulnerability to demand fluctuations. Investors seeking entry should expect to compete for limited power allocations and face prolonged permitting cycles given recent moratorium activity.
Deal flow has stalled entirely: no recent M&A is tracked in Indianapolis, contrasting sharply with even modest activity in peer markets like Columbus, where the Duos Technologies acquisition represented discrete institutional confidence. This absence reflects both the market's power constraints and regulatory uncertainty created by the moratorium. The operator landscape remains fragmented without consolidation pressure, suggesting neither strategic confidence nor financial desperation among incumbents. Amazon's single-facility footprint indicates limited hyperscaler commitment to expansion here, a signal that major cloud providers are allocating growth capital to markets with clearer power and permitting pathways.
Indianapolis remains a secondary-market play dependent on resolution of its regulatory framework and power infrastructure investment. Investors should monitor whether municipal policies shift following the moratorium debate and track any announcements from Duke Energy or municipal utilities regarding grid capacity expansion. Without either policy clarity or material M&A activity, the market remains illiquid for institutional capital seeking near-term deployment or exit opportunities.
Indianapolis: 610 MW — live, cited, and queryable by API or MCP.
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JSON: /api/v1/markets/indianapolis/deep-dive · DCPI: /dcpi · Operators: /operators · Updated nightly
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