Buy low and sell high…that is how you make the most money. Muncie, Indiana is a university town of 70,000 within an hour of Indianapolis that enables you to do that. It is home to Ball State University which has more than 22,000 students.
A little background is crucial. Ten years ago, no one would invest a dime in Muncie. Besides the university, it’s largest employers had been factories. When the two largest factories closed in 2007 and 2010, laid off workers fled to find jobs. With a slight population decline (low demand, the housing market was stagnant and did not experience the appreciation seen in other markets. Home prices stayed VERY low.
Muncie had to re-invent itself. In 2017, Muncie started adding new jobs…better jobs. An incubator program with the university founded startups in technology and media (Ball State has been a leader in the Media industry for decades–that is what prompted David Letterman to attend there; he has donated so much they named their Media building after him).
This turnaround has revitalized the downtown and created growth in the housing market. After years of stagnation, housing prices appreciated more than 10% last year and the future looks great. Unemployment is below the national average and rental vacancy is less than 4%.
Comparing it to the nearby Indianapolis market, Muncie rent is approximately 10-15% lower (when comparing similar properties) but the property prices are 30-45% LESS!
That means higher returns for you!
“…housing prices appreciated more than 10% last year and the future looks great. Unemployment is below the national average and rental vacancy is less than 4%.”
Don’t take our word for it. Check out the data from these three research websites
**When looking at the data, you will notice that about 31% of the population lives in poverty. Keep in mind that it includes 22,000 students whose income keeps them below poverty level. Luckily, their parents pay you rent!