There are currently 271,468 real estate properties in Indianapolis, IN, with a median automated valuation model (AVM) price of $225,180.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Indianapolis, IN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Indianapolis, IN, is $253,097.00, with the most expensive house in Indianapolis, IN, topping out at $29,898,500.00 and the cheapest home in Indianapolis, IN, clocking in at $10,800.00. In other words, there’s something for every potential homebuyer or savvy investor in Indianapolis, IN!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Indianapolis, IN, is on a rollercoaster ride. The average rent price in Indianapolis, IN, is $1,226.00. Indeed, when looking to rent in Indianapolis, IN, you can expect to pay as little as $460.00 or as much as $4,600.00, with the average rent median estimated to be $1,140.00. The good news is that finding an affordable and desirable property to rent in Indianapolis, IN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Indianapolis is located in Marion, Indiana, with an estimated municipal population of 876,384 residents. All of the best foreclosed homes for sale in Indianapolis are located in the following zip code areas on Foreclosure.com: 46218 46219 46217 46214 46260 46268 46224 46228 46183 46231 46234 46235 46236 46237 46239 46250 46208 46201 46203 46202 46205 46204 46256 46254 46259 46227 46226 46225 46222 46221 46220 46229 46113 46278 46241 46240 46206 46207 46209 46230 46242 46244 46247 46251 46253 46255 46262 46277 46282 46283 46285 46288 46298. The estimated population per square kilometer (.62 miles) in Indianapolis is 935.
So, about how much do homes cost in Indianapolis? The most recent median value of resident-owned homes in Indianapolis is 135,271. An estimated 53.1 percent of households in Indianapolis own their homes, with an average family size of 3.42. The median household income in Indianapolis is 47,873, with19.1 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Indianapolis, the median commute time of resident workers (in minutes) is 23.6. And last, but certainly not least, are you looking for homes to rent in Indianapolis? If so, the average rent price paid by renters in Indianapolis is 892, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Indianapolis, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Indianapolis is 34.2, split between 48.2 percent male versus 51.8 female. The percentage of residents who report being married in Indianapolis is 37.7, with an average family size of 3.42.
The percentage of residents who report their race in Indianapolis is as follows:
| White | 60.9% |
| Black / African American | 28.6% |
| Asian | 3.4% |
| American Indian / Alaskan Native | 0.3% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 3.3% |
| Other | 3.5% |
Looking for family-friendly neighborhoods in and/or near Indianapolis? Or maybe you are searching for 55+ active adult communities in and/or near Indianapolis?
The percentage of residents who report their age in Indianapolis is as follows:
| Under 10 | 14.4% |
| Aged 10-19 | 12.7% |
| 20s | 16.2% |
| 30s | 14.8% |
| 40s | 11.6% |
| 50s | 12.4% |
| 60s | 9.9% |
| 70s | 4.9% |
| 80+ | 2.9% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Indianapolis with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Indianapolis.
How do you know that living in -- or moving to -- Indianapolis is right where you need to be? Perhaps you grew up in Indianapolis or already live nearby; therefore, the decision to buy a home in Indianapolis is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Indianapolis for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Indianapolis:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Indianapolis.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Indianapolis can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Indianapolis, meanwhile, can field multiple offers from more qualified buyers.
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