Rent to own Homes in Indianapolis, IN
Indianapolis is the 12th largest city in the country with a population of close to 830,000. It's the capital of Indiana, and it has been voted by numerous publications as one of the best places to live in the United States when it comes to large cities. The city offers a great deal for its residents, including large scale attractions, major sports, and comfortable living. Indianapolis is also noted as one of the fastest growing cities in the country. It is home to a huge selection of housing, including rental apartments, rent to own houses, and purchasable homes.
Indianapolis, IN is a great place for affordable rent-to-own homes! With a median household income of over $50,813 and a median rent of $911, the Indianapolis, IN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Indianapolis, IN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Indianapolis, IN
- Avon
- Bargersville
- Beech Grove
- Boggstown
- Brooklyn
- Brownsburg
- Camby
- Carmel
- Clermont
- Crows Nest
- Cumberland
- Edinburgh
- Fairland
- Fishers
- Fortville
- Fountaintown
- Franklin
- Greenfield
- Greenwood
- Homecroft
- Indianapolis
- Ingalls
- Lawrence
- McCordsville
- Meridian Hills
- Mooresville
- Morristown
- Needham
- New Palestine
- New Whiteland
- Nineveh
- Noblesville
- North Crows Nest
- Pendleton
- Plainfield
- Princes Lakes
- Rocky Ripple
- Shelbyville
- Southport
- Speedway
- Spring Hill
- Spring Lake
- Trafalgar
- Warren Park
- Westfield
- Whiteland
- Williams Creek
- Wynnedale
- Zionsville
Neighborhoods in Indianapolis, IN
Spring Mill Heights rent to own homes Arden rent to own homes Aspen Ridge rent to own homes Ballinshire Estates - Cobblestone rent to own homes Bay Landing rent to own homes Bayswater rent to own homes Bloomfield Lake Estates rent to own homes Delaware Trails South rent to own homes Devington rent to own homes East Gate rent to own homesBuying a Home in Indianapolis, IN
Indianapolis, IN is seeing rapid growth and Indianapolis, IN's' housing market remains optimal with an average home price that is -33% below the 2023 national average. Indianapolis, IN is part of Marion county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Marion is 1.15% which is above the national average, which is 0.99%.
Median Home Price in Indianapolis, IN
Median Rent in Indianapolis, IN
Top Reasons to Live in Indianapolis IN
Housing Statistics One thing that makes Indianapolis one of the best places to live in the country is its cost of living. The cost of renting a home is $700, which is pretty much the average across the country for a one-bedroom property. The average price of a home is less than $100,000, at $99,570. If you're looking for a place to live, there are approximately 800,000 houses with less than 10% vacant. As with most cities there are more people who own a home than those who are renting a home. There are 63% of residents who own a home and 30% of residents who rent a home. If you own a home, the average cost of a home in Indianapolis is about $130,000. an.
Largest Employers and Industries Indianapolis has many well-known companies headquartered in the city. This is one of the reasons the city has experienced so much growth. One of the largest companies headquartered in Indianapolis is Eli Lilly and Company, a large pharmaceutical manufacturer. The wireless provider Brightpoint is located here. Indianapolis also has distribution centers for FedEx Express, Amazon, Target, and CVS Pharmacy. The health insurance provider, Wellpoint, is also located here. Conseco, Emmis Communications, Steak 'n Shake, and Dow AgroSciences, Sallie Mae, Rolls-Royce, Raytheon, and General Motors are a few more popular companies that call Indianapolis home.
Arts and Culture Indianapolis is rich in arts and culture. The city actually has six cultural districts located throughout the city. There is a cultural trail which is an urban bike and pedestrian pathway that connects the six cultural districts. The center of Indianapolis has a Monument Circle, which is dedicated to the military. There is the War Memorial Plaza dedicated to soldiers of World War I. In fact, the city is second to only Washington, D.C., when it comes to war memorials.
NeighborhoodsNorth Side: The North side of the city is considered the central part and it is the oldest. Many of the purchasable and rental homes there are being renovated. It is pretty much an urban area with areas like Cottage Home and Lockerbie Square. The Butler-Tarkington neighborhood is close to Butler University with many college students living in this area. If you have a family you may consider Meridian-Kessler. It is an area full of brick homes and spacious yards that's perfect for families.
Indianapolis, IN Frequently Asked Questions
Indianapolis is safer than 1% of Indiana's cities and 2%. Though the crime rate has risen in 2021, the mayor still refers to Indianapolis as "extraordinarily safe."
Yes! Indianapolis is Indiana's largest city, has a healthy job market, three different universities, and the cost of living is 12% lower than the national average.
The average snowfall is 21.6 inches, which is below the national average of 27.8 inches.
The median price of a home in Indianapolis, Indiana, is $217,000.