If you’re interested in starting a side hustle or making passive income, you may consider investing in real estate. Investing is a great way to make money with little daily work. Real estate is a classic, trustworthy, and long-lasting niche for that. Whether you’re local or out-of-state and willing to expand your horizons, real estate companies in Indiana can assure you that the local investment housing market is thriving. Indiana has a lot to offer to the new investors, from never-stopping megapolises to family suburbs and vacation rentals. Despite of harsh circumstances of the COVID-19 pandemic Indiana real estate market managed to recover and is now in good shape to welcome potential investors.
Let’s get down to business and see what potential Indiana holds for us in upcoming years.
Reasons why to invest in the real estate in Indianapolis
- Best real estate market in Indiana
Many research centers have placed Indianapolis on the top list of the hottest real estate market in the United States since the global pandemic started. Only that makes the state’s largest city attract local investors and out-of-the-state ones. Indianapolis real estate agents share that demand for single-family houses is strong and highly fast-moving. Most of the listings are closed on average 14 days on the market. The buyers market is competitive even out of the peak season. With 105 growing neighborhoods, Indianapolis is a great place to invest in any property, from residential townhouses and single-family homes to modern condos and commercial estate.
- Growing population
Being one of the most populated cities in the Midwest after Chicago and Columbus, Indianapolis has everything it takes to make folk want to relocate there. From city life to blooming suburbs, it’s a charming place to settle. Property in counties like Boone, Hamilton, Shelby, Marion, Hancock, and Putnam has been in high demand for the past years.
- Stable job market
According to the Federal Reserve Bank of St.Louis, Indianapolis-Crmal-Anderson grew by almost 9% over the past 10 years. Among non-coastal cities, Indianapolis is the eighth hottest spot for tech growth. Unemployment is below 2%. Indianapolis gives you stable and reliable tenants and buyers, which is a positive sign for real estate investment.
- Strong rental market
A constantly growing population, stable job market, and expanding metro-area increase the demand for more housing. The rent varies from neighborhood to $2,600 per month in the city’s Downtown and Northen Central areas. The vast majority of occupied homes in Indianapolis are rental units, making the city a great choice if you want to profit from long-term rental.
- Quality of life level
With a progressive job market, the cost of living is not too high in Indianapolis, like, for example, in Chicago. The city has excellent educational facilities. Ivy Tech Community College, Ball State University, and Indiana University-Perdue University are top-rated institutions.
Indianapolis is home to some huge sports events that are knowns on the National level. They as well have a great scene for cultural events and theater. All combined made Indianapolis a great city to grow, study, work, and settle.
Other markets to explore in Indiana
If you’re planning on investing in quiet neighborhoods with different lifestyles from Indianapolis, Indiana state has more to offer.
- Fort Wayne
The real estate market is strong here as the second-largest city in Indiana keeps attracting more and more folk every year. The job market is expanding, and the quality of life is high. Fort Wayne has a reputation for a healthier lifestyle and slower way of life, making it a prominent market for flipping houses. The demand for cozy houses is rising. Renovate the old home into eye candy and put the listing out at the right time, and your property will be gone in seconds.
Just 20 miles away from Indianapolis, you have laidback and cozy Fishers. It’s a family-friendly area with big spacious houses. The market is great for investment as the home’s there value higher than in other cities in the state. Rent costs are pretty high compared to the big cities. So if you have extra funding, don’t hesitate to invest in Fishers for a more significant return.
Mishawaka has a great location, right next to the Great Lakes. The real estate market is booming, with house prices rising each year. Tourist flow makes the property in Mishawaka perfect for short-term rentals. Don’t hesitate to flip houses and give them a vacation feel, and you’ll make big money on seasonal rentals.
Being a small town not that far from Indianapolis, Lafayette might seem like an odd choice for investments. However, real estate agents predict the market to heat up in upcoming years. The historical town attracts more people by low prices and outstanding location, increasing the demand.
Here is the best market for your investment in Indiana state. As you can see, there are plenty of different options and guaranteed success no matter what you choose. The real estate specialist predicts an even brighter future for Indianapolis. So if you’re ready to make a reliable and profitable investment, don’t hesitate to contact the realtors in your desired locations. An excellent real estate agent is reassuring that your investment will double or even triple in turnover. People who carry about their money and income won’t let the horrible decision get in their way and will get the assistance they need to find the best-suited property in Indiana.