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Indianapolis real estate market overview
- Average Monthly Rent: $1,155
- Home Price/Value Percentage Change: 4.80%
- Median Home Value: $219,203
- Best Time To Sell a Home: May
- Affordability Index: Moderate
- Days To Sell a House: 22
- Job Market: Fair
- Public School Ranking: 22
Location and weather
Indianapolis is located in the center of Indiana, and shares a border with Kentucky, Illinois, Michigan and Ohio. Indianapolis is one of the most populated cities in the east-side of Indiana and is the seat of Marion County. Its location is also directly on the White River and Fall Creek, which explains why this city is a hotspot for beautiful canals, state parks, and out-door activity. Indianapolis is also a great place to enjoy state parks, zoos, and sports entertainment, as the NCAA national headquarters is located downtown.
The weather here is typical of the east-central Midwest, with hot summers and chilly winters. The rain is moderate and evenly spread thought-out the year.
Population, job market and cost of living
Indianapolis has a population of 907,802, with a growth rate of 0.75% annually.
The job market has decreased by -4.67% over the last year. In ten years, job growth is predicted to be 37.5%. Based on the Indy Chamber of Commerce, there are six key industries that represent Indianapolis's economy; logistics, manufacturing, information technology, life sciences, agribusiness, and sports. The three major employers here are Eli Lilly, Anthem and Usic.
Cost of living in Indianapolis is lower than the US average cost of living, and the same as Indiana's average cost of living. Housing is very inexpensive here, which is why so many people.
Indianapolis real estate market details
- Downtown Indianapolis
- Brockton
- Broad Ripple
- Castleton
- Willow Lakes Crooked Creek
The average monthly rent is $1,155 for an average apartment size of 879 sq. feet.
There has been a 4.8% increase in median home value over the last year. As of 2023, the median home value is $219,203.
On average, homes sell after 22 days on the market.
The best time to sell a home for the most amount of money is in May. The best time to sell quickly is in June.
The affordability index is 85. This number indicates moderate affordability in this city.
The top ranked public schools are Center for Inquiry School 84, Merle Sidener Gifted Academy, George Washington Carver School 87, Shortridge High School, Northwest Community High School, and Purdue University Indianapolis. This information is supported by data measuring academic performance and equity.
What people are saying about iBuyer.com
"Shamus and iBuyer.com were awesome from start to finish … "
Greg D. 6028 Morning Dove Dr, Indianapolis, IN 46228