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Indianapolis Housing Market 2019: Home Prices, Trends & Forecasts

Latest Indianapolis Real Estate Market 2019 Statistics

When it comes down to investing in Indianapolis real estate, it is considered to be a good cash flow market with a rise in investment properties expected in the coming years. Other real estate markets in other cities declined up to 50% while the Indianapolis real estate market staggered at around 7%. If you are looking at buying a house in Indianapolis as a potential investment opportunity, you must read till the end. Home prices in the Indianapolis   housing market are expected to rise by 7.2% in 2020.

Indianapolis is also known as the crossroads of America with six interstate highways crossing through the town. However, the transport sector isn’t the only thing the city is good for. Construction in Indianapolis seems to be a trend ever since 1849 with America’s first Union Station. The construction companies have been stretching their profit margins from the ever growing Indianapolis housing marketLet us now discuss the latest Indianapolis housing market trends and forecasts for 2019 & 2020 and find out why you should invest in this cash flow market.

Highest Job Growth in the Midwest

  • Ranked the #1 most affordable place to own real estate. (Forbes Magazine)
  • Unemployment below national average.
  • Highest job growth in the Midwest.
  • Properties up to 10% below market.
  • 3-year appreciation forecast of 10.3%.

Indianapolis Real Estate For Sale

Indianapolis Real Estate Market Forecasts 2019 & 2020

Indianapolis Real Estate Market

According Zillow.com, the median home value in Indianapolis is $144,200. Indianapolis home values have gone up 15.1% over the past year and Zillow’s Indianapolis real estate market prediction is that the prices will rise 7.2% in 2020. The median list price per square foot in Indianapolis is $104, which is lower than the Indianapolis-Carmel-Anderson Metro average of $111. The median price of homes currently listed in Indianapolis is $174,900. The median rent price in Indianapolis is $1,000, which is lower than the Indianapolis-Carmel-Anderson Metro median of $1,195.

Indianapolis Real Estate Market Forecast

Graph Credits: Zillow.com

According to LittleBigHomes.com, the Indianapolis real estate market forecast for the 12 months ending with the 3rd Quarter of 2019 is positive. Their accuracy of the Indianapolis real estate market trend prediction is 90%. Accordingly, they estimate that the probability for rising home prices in Indianapolis is 90% during this period. If this Housing Market Forecast is correct, home prices will be higher in the 3rd Quarter of 2019 than they were in the 3rd Quarter of 2018.

Indianapolis Housing Market Forecast 2019 – 2021

The Indianapolis housing market forecast for the 3 years ending with the 3rd Quarter of 2021 is also positive. The accuracy of the Indianapolis housing market trend prediction is 85%. Accordingly, LittleBigHomes.com estimates that the probability for rising home prices in Indianapolis is 85% during this period. If this Housing Market Forecast is correct, home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.

Check this page each quarter for updates to the Indianapolis Real Estate Market Forecast.

Indianapolis Real Estate Market Trends

Indianapolis real estate market trends in show a 2% week-over-week rise in average listing price and a 0% rise in median rent per month. Trulia has 4,322 resale and new homes for sale in Indianapolis, including open houses, and homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

Indianapolis Real Estate Market Trends

Graph Credits: Trulia.com

Data by Redfin.com shows that the Indianapolis housing market is very competitive. Homes in Indianapolis receive 1 offers on average and sell in around 33 days. The average sale price of a home in Indianapolis was $157K last month, up 8.3% since last year. The average sale price per square foot in Indianapolis is $84, up 7.7% since last year. Homes typically receive 1 offer. Homes in the Indianapolis housing market sell for about 4% below list price and go pending in around 33 days. Hot Homes in Indianapolis can sell for around list price and go pending in around 8 days.

Indianapolis Housing Market Statistics

  • Average Listing Price: $187,637 (On Trulia)
  • Median Rent Per Month: $1,000
  • Median Household Income: $39,028
  • Home Owners: 59%
  • Single Residents: 40%
  • Median Age: 35
  • College Educated: 27%
  • Transportation: 97% people commute by car

There are 4,687 homes for sale in Indianapolis, ranging from $1 to $7.5M on Realtor.com. 475 of which were newly listed within the last week. Additionally, there are 998 Indianapolis rental properties up to $400K per month. The median list price of homes in Indianapolis, IN was $149.9K in February 2019, trending up 7.1% year-over-year. The median listing price per square foot was $85.

Indianapolis Housing Market Trends

Graph Credits: Realtor.com

Indianapolis Single Family And Multi-Family Homes

Following the housing market decline in 2007, single family rental properties became favorable options for investors, saving in construction or refurbishment prices. The quick turnaround for an owner to rent out their property means cash flow is almost immediate. Single family rental homes have grown up to 30% within the last three years. Almost all the housing demand in the US in recent years has been filled by single family rental units

As per the data from the real estate company called Neigborhoodscout.com, the median house price in Indianapolis is $144,370, which indicates that home prices in Indianapolis are well below the national average for all cities and towns. Single family detached homes are the single most common housing type in Indianapolis, accounting for 59.50% of the city’s housing units. Other types of housing that are prevalent in Indianapolis include large apartment complexes or high rise apartments ( 23.45%), row houses and other attached homes ( 8.58%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.27%).

The most prevalent building size and type in Indianapolis are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.34% owning and 47.66% renting. Currently, there are 1,901 single family homes for sale in Indianapolis on Zillow. These include upcoming potential listings such as properties which are in the stage of Pre-Foreclosure. Additionally, there are 799 single family homes for rent in Indianapolis, IN.

Indianapolis, IN Foreclosures And Bank Owned Homes

The percent of delinquent mortgages in Indianapolis is 1.6%, which is higher than the national value of 1.1%, according to Zillow. There are currently 1,201 properties in Indianapolis, IN that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 2,253.

  • Foreclosures in Indianapolis = 1,201 (RealtyTrac)
  • Homes for Sale in Indianapolis = 2,253
  • Recently Sold = 20
  • Median List Price = $149,900 (0% ⇑ vs Feb 2018)

In March, the number of properties that received a foreclosure filing in Indianapolis, IN was 152% higher than the previous month and 37% lower than the same time last year. Home sales for February 2019 were up 0% compared with the previous month, and down 100% compared with a year ago. The median sales price of a non-distressed home in Indianapolis was $0. The median sales price of a foreclosure home in Indianapolis was $0, or 0% higher than non-distressed home sales.

Indianapolis Home Prices And Real Estate Appreciation

The cumulative real estate appreciation rate in Indianapolis over the ten years has been 24.85%, which ranks in the top 30% nationwide. This equates to an annual average Indianapolis house appreciation rate of 2.24%.

Indianapolis real estate appreciation rates are so strong in that despite a nationwide downturn in the housing market, Indianapolis real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Indianapolis real estate appreciation rates continue to be some of the highest in America, at 9.28%, which is higher than appreciation rates in 88.57% of the cities and towns in the nation.

Based on the last twelve months, short-term real estate investors have found good fortune in Indianapolis. Indianapolis appreciation rates in the latest quarter were at 0.48%, which equates to an annual appreciation rate of 1.93%.

The above statistics on real estate appreciation in Indianapolis were taken from NeighborhoodScout.com. You can visit their page for more information. Relative to Indiana, their data shows that Indianapolis’s latest annual appreciation rate is higher than 90% of the other cities and towns in Indiana.

Best Neighborhoods In Indianapolis To Invest In Real Estate

There are 409 schools in Indianapolis, IN. There are 177 elementary schools, 81 middle schools, 66 high schools and 85 private & charter schools. There are 127 neighborhoods in Indianapolis. Some of the best neighborhoods in or around Indianapolis, Indiana are Near Eastside, Far East Side and South Broad Ripple.

Near Northside has a median listing price of $319.9K, making it the most expensive neighborhood. Near Northwest is the most affordable neighborhood in Indianapolis, with a median listing price of $41.9K. There are some great neighborhoods in Indianapolis where you can consider to invest in real estate. These are the some of the best neighborhoods in Indianapolis (List by Niche.com).

1. Glendale, Indianapolis

According to Niche.com, Glendale is #1 in best neighborhoods to live in Indianapolis area. The area is suburban with a total population of 4,864. Glendale is a neighborhood located on the north side of Indianapolis, located immediately east of Broad Ripple. Glendale is one of the oldest suburban neighborhoods in Indianapolis and is fairly residential in nature, despite being a heavy commercial district. It is best known as the home of Glendale Town Center. Currently Zillow has 8 homes for sale and 54 homes for rent in Glendale, Indianapolis.

Median Home Value in Glendale $208,429
National $184,700
Median Rent in Glendale $682
National $949

2. North Central, Indianapolis

North Central is #2 in best neighborhoods to live in Indianapolis area. It is a suburban area with a population of 8,012. Currently Zillow has 16 homes for sale and 7 homes for rent in North Central Indianapolis.

Median Home Value in North Central $208,284
National $184,700
Median Rent in North Central $1,475
National $949

3. Broad Ripple Village, Indianapolis

Broad Ripple Village is #3 in best neighborhoods to live in Indianapolis area. It is one of seven areas designated as cultural districts in Indianapolis, Indiana. Located about six miles (11 km) north of Downtown Indianapolis, Broad Ripple was established in 1837 as an independent municipality and annexed by the city of Indianapolis in 1922. Broad Ripple High School, one of the earliest Indianapolis Public Schools, is located within the Village. The area is suburban with a population of 7,949. Currently Zillow has 31 homes for sale and 34 homes for rent in Broad Ripple Indianapolis.

Median Home Value in Broad Ripple Village $204,941
National $184,700
Median Rent in Broad Ripple Village $1,000
National $949

4. Delware Trails, Indianapolis

Delware Trails is #4 in best neighborhoods to live in Indianapolis area. It is a suburban area with a population of 8,372. Zillow has 15 homes for sale and 9 homes for rent in Delaware Trail Indianapolis.

Median Home Value in Delware Trails $197,074
National $184,700
Median Rent in Delware Trails $876
National $949

5. Allisonville, Indianapolis

Allisonville is #5 in best neighborhoods to live in Indianapolis area. The area is suburban with a population of 14,185. Currently Zillow has 27 homes for sale and 11 homes for rent in Allisonville Indianapolis.

Median Home Value in Allisonville $199,287
National $184,700
Median Rent in Allisonville $864
National $949

6. Butler-Tarkington, Indianapolis

Butler Tarkington is #6 in best neighborhoods to live in Indianapolis area. Butler Tarkington is a neighborhood on the north side of Indianapolis with the following borders: 38th Street and Crown Hill Cemetery to the south, the Central Canal and Westfield Boulevard to the north, Michigan Road to the west, and Meridian Street to the east. It is an urban area with a population of 15,164. The neighborhood’s name comes from Butler University and the famous writer Booth Tarkington. Currently Zillow has 32 homes for sale and 29 homes for rent in ButlerTarkington Indianapolis.

Median Home Value in Butler-Tarkington $237,756
National $184,700
Median Rent in Butler-Tarkington $974
National $949

Should You Buy Indianapolis Investment Properties?

Investing in real estate is touted as a great way to become wealthy. Is Indianapolis rental property good for investment? Planning to invest in the Indianapolis real estate market? Many real estate investors have asked themselves if buying a property in Indianapolis is good investment? You need to drill deeper into local trends if you want to know what the market holds for the year ahead.

We have already discussed the Indianapolis housing market 2019 forecast for answers on why to put resources into this sizzling market. The home prices in the Baton Rouge housing market will be on an upswing all through 2019. The Indianapolis home prices are expected to rise by 0.8% in 2020. Here are the top 10 reasons to invest in the Indianapolis real estate in 2019.

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 surpassing Dayton Ohio following it closely.

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.

Indianapolis Real Estate Investment

Maybe you have done a bit of real estate investing in Indianapolis, IN but want to take things further and make it into more than a hobby on the side. It’s only wise to think about how you can and should be investing your money. If you are a home buyer or real estate investor, Indianapolis real estate investment definitely has a track record of generating one of the best long term returns in the U.S. through the last ten years. If you invest wisely in Indianapolis real estate, you could secure your future. If you are a beginner in the business of cash flow real estate investing, it very important to read good books on real estate.

Most investors naturally gravitate to residential property investment. When looking for the best real estate investments, you should focus on markets with relatively high population and employment growth. Both of them translate into high demand for housing. If housing supply meets housing demand, real estate investors should not miss the opportunity since entry prices of homes remain affordable.

You must also collaborate and learn from savvy real estate investors who have retired early on in their lives by investing in some of the best real estate markets like Indianapolis, IN.  Indianapolis offers great opportunities for turnkey real estate investments. This is especially true for investors who want to invest in the market which is ranked the #1 most affordable place to own real estate (Forbes Magazine). In Indianapolis real estate market, it is still possible to purchase cash flow turnkey properties which are up to 10% below market value – which means you get the best returns on your investment.

Indianapolis Investment Properties For Sale ⇐ Click Here

Buying an investment property is different from buying an owner-occupied home. Our Indianapolis investment properties are designed to make money as rentals, which means you must look at it solely as an income producing entity just like any other business. These are “Turnkey Cash Flow Investment Properties” located in some of the best neighborhoods of Indianapolis and a 3-year appreciation forecast of 10.3%.

Whether you are a beginner or a seasoned pro you probably realize the most important factor that will determine your success as a Real Estate Investor is your ability to find great real estate investments.

According to real estate experts, buying in a market with increasing prices, low interest, and low availability requires a different approach than buying in a cooler market.

We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities.

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Other Best Places To Invest In Real Estate

Another market that we suggest is the housing market in Pensacola, Florida. The Pensacola real estate investment can be as warm as the water along its beautiful beaches. The Pensacola housing market is inviting to locals and tourists alike, generating a steady stream of revenue. Investors are making a mistake if they pass over this market in favor of overheated markets like Miami or Orlando.

The Pensacola real estate market is affordable to locals, tourists and investors alike because it isn’t being bid up as if it were the next Silicon Valley or the Orlando neighborhoods near Disneyworld. Ironically, the relatively lukewarm tourist market means you aren’t competing against city blocks lined with luxury hotels or all-inclusive resorts, either.

This gives the average real estate investor a decent chance at earning good money in the Pensacola real estate market. And Pensacola tourism is seeing steady growth, so you’ll be able to increase the rental rates charged to tourists over time. They’ll consider it a deal, since the city offers equally warm sandy beaches and decent tourist attractions without the crowds of “hotter” tourist destinations.

Another best place to invest in real estate is Baton Rouge, LA. Forget New Orleans and the hope of profiting off its steady stream of tourists. The Baton Rouge real estate market isn’t as glamorous, but it offers more affordable properties, a steady rental market, and higher return on the investment.

One of the best reasons to invest in the Baton Rouge real estate market is the low tax burden. The top income tax rate for individuals is 6 percent. The state and local tax bill is roughly fortieth out of the fifty states, while the sales and local tax burden as a percentage of income is fifth lowest in the country.

Those researching Baton Rouge rental properties will care more about property taxes than income and sales taxes. Know that the median property tax bill is 0.2% of the property’s assessed value. The highest property tax rate in the state is less than 1%. The national average is around 1.2%.

Let us know which real estate markets you consider best for real estate investing! If you need an expert investment advise, you may fill up the form given here. 

One of our investment specialists will get in touch with you to discuss all facets of searching for, buying, and owning a turnkey investment property.


*Remember, caveat emptor still applies when buying a property anywhere. The information contained in this article was pulled from third party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, the Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.

References:

Market Data, Trends and Statistics
https://www.zillow.com/Indianapolis-In/home-values
https://www.trulia.com/real_estate/Indianapolis-Indiana
https://www.littlebighomes.com/real-estate-indianapolis.html
https://www.neighborhoodscout.com/in/indianapolis/real-estate
https://www.redfin.com/city/9170/IN/Indianapolis/housing-market
https://www.realtytrac.com/statsandtrends/in/marion-county/indianapolis
https://www.realtor.com/realestateandhomes-search/Indianapolis_IN/overview

Why Invest in Indianapolis Rental Market
https://www.threaltyinc.com/blog/2017/01 /04/why-invest-in-rental-properties-in-indianapolis-in http://www.cashflowdiaries.com/why-is-indianapolis-such-a-great-city-to-invest-in

Best Neigborhoods in Indianapolis
https://www.niche.com/places-to-live/n/allisonville-indianapolis-in


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