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.
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%.
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.