Regulations >
Indiana >
Speedway

Want to see how Speedway compares to other top cities in Indiana?  Explore all city regulations in Indiana. →

B

Speedway, IN

Generally Investor Friendly

Local STR Agent

Local STR Agent

Speedway STR Expert
Speedway, Indiana skyline

STR Regulations for Speedway, Indiana

Overview: Are STRs allowed in Speedway, IN?

  • Explicit answer: Yes. Short-term rentals (Airbnb, Vrbo, etc.) are allowed in Speedway, Indiana, but they are regulated. Owners must obtain a town permit and comply with local rules.
  • Current status: Speedway adopted a permitting ordinance and began requiring permits in 2023. A Town Manager announcement gave owners until October 2024 to comply. The town estimates 60–120 STRs may be operating at any given time.

What do Airbnb hosts actually earn in Speedway?

Speedway hosts earn a median $29,575/year with $169 ADR and 62% occupancy.

Top performers pull in $43,753+ per year.

See the full Speedway market breakdown

How to start a short-term rental business in Speedway, IN

Step-by-step, based on the local ordinance and reporting to date:

  1. Confirm zoning suitability. As of the provided sources, no city-specific zoning restrictions are documented in the materials provided. If unsure, contact the town directly before investing.
  2. Obtain the required town permit. Speedway mandates an annual permit for each STR. There is a compliance window through October 2024; investors should assume permits are required now and must be maintained annually thereafter.
  3. Prepare to pay the annual permit fee. The fee is $150 per year.
  4. Maintain good standing to avoid permit actions. The town indicates renewals occur without additional fees if the property does not exceed three violations in a year. Operators should track and address violations promptly to preserve renewal eligibility.
  5. Stay current on local updates and renewals. Monitor Speedway’s official channels for any changes to fees, renewal cycles, or enforcement guidance.

Note: The provided materials do not specify application methods, renewal timelines beyond fee policy, or inspection requirements. Contact the town for procedural details.

Required documents, permits, licenses, and guidelines

  • Permit requirement: Yes — a Speedway short-term rental permit is required for each STR.
  • Annual fee: $150 per STR.
  • Renewal policy: Renewals are at no additional cost if the property does not exceed three violations within the year.
  • Compliance window: Owners were given until October 2024 to comply with the permitting ordinance.
  • Violations and enforcement: The town can issue violations; no additional violation thresholds or enforcement mechanics are detailed in the provided sources.

Available source documents:

  • Town of Speedway short-term rental ordinance (DOCX). Note: The ordinance text is not fully accessible in the provided content. Use the link below for the official document.

Specific regulations (Speedway, Marion County, Indiana)

City-level (Speedway):

  • Permits are required. A compliance deadline of October 2024 was announced when the ordinance took effect.
  • Annual fee: $150. Renewals appear to be free provided the operator remains under three violations for the year.
  • Approximate number of STRs: 60–120 at any given time, per town estimates.
  • Enforcement notes: Speedway reported 137 properties with permits and approximately 15 ordinance violations as of recent reporting; no permits had been revoked based on the data provided. Code Enforcement may use warnings, violation letters, or citations depending on severity and frequency.

County-level (Marion County):

  • No county-specific STR regulations or contacts are documented in the materials provided.

State-level (Indiana):

  • Indiana is a “home rule” state, meaning local units (like Speedway) may regulate matters like STRs unless preempted by state law.
  • Sales and Innkeeper’s Taxes: Indiana’s state-level Gross Retail (Sales) Tax (6.25% state rate as of the latest available information) and the Indiana Innkeeper’s Tax (generally 4% at the state level) often apply to lodging, including STRs. County innkeeper’s taxes may also apply depending on the location. The provided materials do not include the specific tax registration steps for STR hosts in Speedway. Consult Indiana’s Department of Revenue or a local tax professional for registration and filing requirements.

Contact information (local authority in charge of STRs)

  • Town of Speedway (Official website): www.speedwayin.gov/
  • Permit management appears to be handled via Speedway’s internal processes. The provided content does not include direct phone/email contacts for STR permitting. Use the town’s website or contact the Clerk-Treasurer’s office for procedural questions:
    • Town of Speedway, Clerk-Treasurer: The official website is the best starting point for current contact details. (Phone and email not provided in the sources.)

Links to source pages

Investor takeaways

  • STRs are permitted in Speedway with an annual $150 permit and ongoing compliance requirements.
  • Avoid violations; more than three per year may jeopardize renewal status (renewals are free if under the violation threshold).
  • The .docx ordinance is the authoritative legal document; review it directly for definitive requirements. If procedure or zoning details are unclear, contact the town directly via the official site.

Next step

Found a property in Speedway?

Paste any address and get estimated revenue, cash-on-cash return, and comparable STR performance in under 5 minutes. 3 free analyses per day.

Ask the AI Advisor about Speedway

Free brief

Get the free Speedway STR Investment Brief

Revenue data, top neighborhoods, seasonal trends, and the key regulations for Speedway, Indiana in one email.

Speedway

Market Saturation Score

036912
Mild Saturation
2/ 12
months with declining YoY revenue
2–4 declining months: early saturation pressure - watch for trend persistence.
View Full Speedway Market Analysis

Photos of Speedway

Overview of Speedway

Speedway is a small, densely built town in Marion County, Indiana, with a population of roughly 12,000 residents. It sits just a few miles west of downtown Indianapolis, entirely enclosed within the city limits of its larger neighbor, and has a distinctly working-class, blue-collar character shaped by generations of ties to the local racing industry. The town is best known as the home of the legendary Indianapolis Motor Speedway, and it functions as a year-round base for visitors drawn by the spectacle of the Indy 500 each May. Travelers also use Speedway as an affordable, well-located alternative to staying in downtown Indianapolis, which is only about ten minutes east by car.

The most obvious draw is the Indianapolis Motor Speedway itself, a 2.5-mile oval that has hosted the Indianapolis 500 since 1911. The on-site museum showcases historic race cars, trophies, and the famous "Yard of Bricks" finish line, and the track offers behind-the-scenes tours on non-race days. Because the attraction is essentially in the residents' backyard, vacation rental guests can walk or take a very short drive to most events and tours.

Just a short drive east into Indianapolis, the Indianapolis Museum of Art at Newfields offers 100 acres of gardens, a sprawling art collection, and seasonal outdoor installations. It is about a fifteen-minute drive from Speedway and provides a quieter, more contemplative counterpoint to the roar of race weekend.

Families visiting the area often head to the Children's Museum of Indianapolis, one of the largest children's museums in the world, located roughly fifteen minutes east of Speedway. Its dinosaur hall, planetarium, and immersive exhibits appeal to guests of all ages and make it a reliable rainy-day option for short-term rental visitors.

A little farther afield, White River State Park in downtown Indianapolis combines green space, walking and biking trails, the Indianapolis Zoo, and the Eiteljorg Museum of American Indians and Western Art. It is about ten minutes from Speedway and offers an easy way to spend a full day without leaving the metro area.

Speedway's appeal for short-term rental investors lies in this combination of small-town simplicity and big-city access. Guests can stay in a quiet residential neighborhood while remaining minutes from one of the most iconic sporting venues in the United States, a thriving downtown, and a wide range of family-friendly attractions, making the town especially busy in May and during the broader racing season.

Want to know if a property in Speedway is a good investment?

Enter an address to get instant revenue potential and comps.