I was just reading the real estate section of MSN when I saw an interesting article entitled, “Biggest cities, lowest rents 2008“. According to this article, Indianapolis, Indiana has ranked number six in their ranking of the biggest cities with the lowest rents for 2008. For folks who desire the amenities of big city living with small town rental fees, Indianapolis is a sure win.
With a population of almost 1.7 million residents, Indianapolis is definitely a big city that offers its residents everything from arts and culture, fine dining, entertainment and recreational options as well as employment opportunities and numerous retailers that only larger metropolitan areas can offer.
According to this ranking, the average rent in Indianapolis is $663 and rents have only increased 3.8% over the last 12 months. The share of income used for rent is 14.4%.
The average cost of a single-family home in Indianapolis is $120,200 and home appreciation is positive at 2.81 percent. The median household income is $55,066 and the cost of living in Indianapolis is 24.99% lower than the rest of the country. Indianapolis schools spend $7,078 per-pupil, considerably more than the national average of $6,058 per-pupil. All of these facts help to make Indianapolis a fine place to live.
If you are thinking of relocating to the metropolitan Indianapolis area, I invite you to browse my featured listings or search for all homes in Indianapolis using the Multiple Listing Service (MLS) option.
