Top 10 Reasons to Invest in Indianapolis
According to Roofstock, Indianapolis is “Ideally located and brimming with good jobs, entertainment, and friendly people, the so-called Circle City blends Big City buzz with small-town, midwestern charm.
It’s also a city with incredible, cash-flowing properties and a high ceiling for expansion. Real estate forecasters praise its years of steady growth and high rental demand.”
Norada provides more information with their Top 10 Reasons to Invest in Indianapolis
1. Business Friendly Economy
The circle city may be the 13th largest city in the nation but that doesn’t stop it from carefully drawing out its budget to accommodate its locals. In fact, it’s one of the few cities running on a surplus balanced budget making it favorable for most business investments. This is due to the low tax levied on business premises making it a viable option for the rental real estate business.
2. Steady Market
The Indianapolis real estate market has been considered to be among the most stable markets out there. This is due to the city’s location. The mid-western city’s distance from the coast makes its market much reliable unlike cities like other cities based off the coast. Their markets change just as the seasons come and go.
3. Affordable Living Costs
Due to the nature of commerce heavily practiced in the area, it’s the most affordable place to be. According to CNN Money, it boasts of an affordability score of approximately 96% with low mortgage rates.
4. Diversification of State Capital and its Effects
The state capital has been directed towards funding a number of diversified sectors including tourism. The city hosts major sporting events like the NCAA basketball-championships, the famous Indy Car Race which attracts huge crowds each year. The Indianapolis real estate market can thrive from this especially in the home rental business during such occasions. Other areas of diversification include pharmaceutical as well as retail and healthcare investments.
5. Increasing Home Prices
Probably one of the best news to an Indianapolis real estate market investor is to learn of the rise in home prices. Over the recent past, home values have shot up with over 7% percent with the median home value averaged at about $125,736 according to real estate agents. Not only will an investor get his money’s worth but also stretch out profit margins as time goes by.
6. Rise in Population
The population density in Indianapolis is on the rise with a growth rate of 0.33% according to the latest census conducted. Demographics show that the rise saw up to 3.9% growth rate of African Americans, replacing the non-Hispanic which accounted for a greater percentage of the population. This diversification is a culmination of the accepting nature of the locals towards people of all backgrounds living side by side and in need of new homes.
7. Indianapolis Has Highest Job Growth in The Midwest
Indianapolis has seen a surge in the technology sector ushering in a new business climate for the city. In 2016, over 49 companies chose to expand their firms and relocate opening up branches in the area. This led to over 4,500 unemployment cases eradicated contributing to the overall growth in the local economy. Low cases of unemployment are a great way of attracting new families moving into the area and another reason for real estate investment.
8. Indianapolis is One of The Best Downtowns
According to Forbes, Indianapolis is one of USA’s best downtowns. The Circle city is known for its urban design with several construction projects underway with more contracts generated than they are completed. Improved public spaces and conservation minded avenues are the in thing for most parts of the town. For those with a keen eye in real estate investment, this could be a major influence over the Indianapolis real estate market.
9. Properties Sell Fast on Market
A wise investment is usually that quickly returns the capital pumped into it. Indianapolis realtors have confessed to closing the fastest deals of their lifetime. Properties sell quite fast as they are listed on the Indianapolis real estate market. This is advantageous to an investor as worrying of marketing and advertising is completely done away with.
10. High Rental Demand in Indianapolis
Indianapolis is a college Town with university students choosing to reside off campus. Moreover, graduates tend to move in the immediate area while starting out creating a huge rental market. For the Entrepreneurs, opening up shop also adds to the demand.
A little more information on the economy and jobs…
- The tech industry is only just starting to take off. Even the CEO of Salesforce Marketing Cloud thinks Indy is “the best kept secret in the country“. Salesforce now has a tower right here in downtown Indy. One of four total towers that they have and the others are in NY, San Fran and London. This should tell you a lot about what is going on here and the potential it has.
- According to Forbes, Indy is listed at the #5 top city for tech jobs as its paving the way for creating new tech jobs in 2017.
- Indy has ranked #9 in the nation for Best Small Business Cities in America in 2017.
- Indianapolis is ranked #4 for Best Cities for Women in Tech 2017. Are you seeing the trend here with the technical industry? Tech jobs are the way of the future and it seems where the tech is at is where the money flows!
“The strong economy in Indianapolis is the result of a very diverse group of employers, including Lilly Pharmaceuticals, Anthem Health Insurance, OneAmerica Financial, Rolls Royce, Simon Malls (largest owner of retail properties in the US), Raytheon (US Dept of Defense Contractor), CNO Financial, Roche Diagnostics, IU Med School, and technology companies like SalesForce, AngiesList, and Genesys.”
Need more convincing? Check the articles below!
10 Reasons I’ll Buy More Rental Properties in Indianapolis
5 Reasons to Invest in the Indianapolis Real Estate Market 2019
Market Trends in Indianapolis
Why is Indianapolis such a Great City to invest in?
The 10 Best Places to Buy Rental Property in 2020