Indiana is a state that's been gaining population for years, and the trend continues to show no signs of slowing down. There are nearly 6 million people living in Indiana now as opposed to 50 years ago when only 453,000 called it home. But even more impressively, the addition rate over this same time period was almost 304,000 new residents!
Indianapolis is one of the top 10 housing markets positioned for growth this year, according to Realtor.com.
The capital city has seen home sale prices increase by more than 16% over last year while median rents for 3-bedroom homes grew 30% or more in some cities during that same period -- making it an ideal place not only for people who want affordable living space but also investors interested solely in rental income potential.
Where to invest in real estate in Indianapolis
Indianapolis has it. That's what the Indy Chamber says, and they're not just talking about zip codes or housing markets -- this city offers an amazing quality of life with top-rated schools so your kids can grow up here too. Plus there are tons more jobs than people looking for them right now because new technology companies continue opening every week -- you'll never be short on opportunities.
And with the city projected to grow in 2022, now is the time to invest in Indianapolis!
Some of the most popular neighborhoods for renters or rental investments include:
1. Broad Ripple
This up-and-coming neighborhood is perfect for young professionals or families who want to be close to all the action. With a variety of shops, restaurants, and bars, as well as the Indianapolis Art Museum and the Monon Trail, there's always something to do in Broad Ripple.
2. Downtown
Downtown Indianapolis is the perfect place for those who want to be in the heart of the city. With a variety of apartments, lofts, and condos available, as well as easy access to all the best that Indianapolis has to offer, it's no wonder that downtown is one of the most popular places to live in the city.
3. Fountain Square
This historic neighborhood is perfect for those who want a sense of community. With a variety of arts and culture events happening throughout the year, as well as a variety of shops and restaurants, Fountain Square is a great place to call home.
4. Irvington
This charming neighborhood is perfect for families or those who want a sense of history. With a variety of Victorian-style homes, as well as easy access to downtown Indianapolis, Irvington is a great place to live.
5. Meridian Kessler
This upscale neighborhood is perfect for those who want to live in a beautiful and well-established area. With a variety of shops and restaurants, as well as easy access to downtown Indianapolis, Meridian Kessler is a great place to call home.
6. Nora
This family-friendly neighborhood is perfect for those who want to be close to all the best that Indianapolis has to offer. With a variety of shops and restaurants, as well as easy access to downtown Indianapolis, Nora is a great place to live.
7. Speedway
This historic neighborhood is perfect for those who want to be close to all the action. Home to the Indianapolis Motor Speedway, as well as a variety of shops and restaurants, Speedway is a great place to call home.
8. Warren Park
This family-friendly neighborhood is perfect for those who want to be close to all the best that Indianapolis has to offer. With a variety of parks and playgrounds, as well as easy access to downtown Indianapolis, Warren Park is a great place to live.
9. Williams Creek
This affluent neighborhood is perfect for those who want to live in a beautiful and well-established area. With a variety of shops and restaurants, as well as easy access to downtown Indianapolis, Williams Creek is a great place to call home.
10. Woodruff Place
This historic neighborhood is perfect for those who want to be close to all the best that Indianapolis has to offer. With a variety of shops and restaurants, as well as easy access to downtown Indianapolis, Woodruff Place is a great place to live.
If you're looking for a place to call home in Indianapolis, there's no shortage of great neighborhoods to choose from. Whether you're looking for a family-friendly area or a more up-and-coming neighborhood, Indianapolis has something to offer everyone.
So, what are you waiting for? Start your search for the perfect Indianapolis real estate investment today!