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Indianapolis Real Estate For Sale In IN
Located in the Midwestern part of the United States, Indianapolis is the capital city of Indiana with a population of around 860,000+ people. If you enjoy sports, you’ll feel comfortable here as Indianapolis is home to the Indy 500, the Brickyard 400 car races, and a plethora of other sporting events. Since you’re looking at Indiana real estate, take a closer look to see if Indianapolis real estate is a good investment for you!
Indianapolis IN History
Indianapolis, also known as Indy, was founded in 1821 as a planned city to serve as the capital for the state of Indiana. Though Indianapolis follows a river, it was platted like a grid and established as a transportation and manufacturing hotspot. Because of this, Indy is also known as the “Crossroads of America.”
In 1970, Indianapolis real estate was consolidated from the surrounding area, causing the city’s footprint to grow by over 300 square miles. Along with the growth, the city put in motion a plan to make Indianapolis a sports tourism hub. The plan succeeded and in 1983 The U.S. Olympic Festival was held here! Today, the culture is still very much centered around sports of all kinds.
Indianapolis IN Real Estate Market
About 60% of Indianapolis real estate market comprises single-family houses for sale, and there are a few townhomes and condos for sale in Indianapolis as well. Over 70% of real estate in Indianapolis was constructed from the ‘40s to ‘90s, with a few dating back to pre-1940s and some being built since the 2000s. There is a healthy mixture of one and two-story homes for sale in Indianapolis, with the majority having a siding exterior, though you will see plenty of brick houses for sale too. It is also common to see basements included in the Indianapolis real estate market.
About 53% of Indianapolis residents own their homes, while 47% rent. The median price for homes in Indianapolis is about $233K. The real estate market is very hot with houses in Indianapolis typically selling about 2% over list price and lasting about 4 days on the market before they go under contract.
Distance to Major Cities
- 243 miles to St. Louis, MO
- 114 miles to Louisville, KY
- 108 miles to Cincinnati, OH
- 175 miles to Columbus, OH
Neighborhoods In Indianapolis IN
- Downtown Indianapolis - Located in the heart of Indianapolis, Downtown Indy is right in the middle of all the action and includes restaurants such as St. Elmo’s Steakhouse and major sports facilities. It will be hard to find any single-family detached homes for sale, as all of Downtown Indianapolis real estate is vertical, with a mixture of townhomes and condos making up most of the real estate here.
- Broad Ripple & Broad Ripple Village - Full of Bohemian vibes, the Broad Ripple area is full of unique restaurants, has a happening nightlife, and is biking and pedestrian friendly. Broad Ripple real estate market is a mixture of condos, older single-family detached homes, and townhomes for sale.
- Fountain Square - Located on the eastside of Indy is the hip Fountain Square. Here you’ll find cool little shops, bars, and live music. This neighborhood has experienced a revival with many new construction homes being constructed here with a modern flair.
- Meridian Kessler - If you’re looking for that idyllic and charming neighborhood with 100+ year old homes for sale and mature tree-lined streets, you’ll find that in Meridian Kessler. This neighborhood is not far from downtown and was once considered a suburb in Indy’s early days. Real estate in Meridian Kessler has been well-maintained throughout the years, making it one of the most sought-after neighborhoods in Indianapolis.
Suburbs of Indianapolis
- Brownsburg - Situated northwest of Indianapolis, Brownsburg real estate is ideal for growing families who seek extra space for kids to run, but also within close proximity to Downtown. Brownsburg is mostly residential with single-family detached houses for sale and is also right next to the almost 4K-acre Eagle Creek Park.
- Noblesville - Located on the northside of Indianapolis, the city of Noblesville is ideal for those seeking life near the lake and golfing. Noblesville hugs the Morse Reservoir and has excellent shopping opportunities with a large outdoor mall. Single-family detached homes for sale make up the Noblesville real estate market with options to have lakefront properties or golf-course living.
- Greenfield - Located east of Indianapolis, the city of Greenfield real estate offers a rural lifestyle, but close to plenty of basic necessities. Greenfield is a part of Hancock County, which is known for its smaller quality school districts.
- Plainfield - Over on the west side of Indianapolis is the city of Plainfield, which is known for its proximity to the airport and warehouse district that makes up over 50% of the warehouse jobs in the Indianapolis area. The schools also have a great reputation, which combined with the access to jobs makes Plainfield real estate ideal for working families.
Schools In Indianapolis IN
Indianapolis is served by Indianapolis Public Schools (IPS), which has strived to improve the quality of education for children by partnering with charter organizations and turning their campuses into innovative schools. The top high schools in Indianapolis are Franklin Central High School and Ben Davis University High School, which have both been recognized for their ability to prepare students for college.
There are several universities that call Indianapolis home. Indiana University- Purdue University Indianapolis (IUPUI) was founded here and has several campuses across the city, including the Indiana University School of Medicine. There are many private universities here too, including technical schools and Bible colleges. Because of the variety of options available, you could buy real estate in Indianapolis and still be close to quality education.
FAQ About Indianapolis IN Real Estate
What is the zip code for Indianapolis, Indiana?
There are several zip codes for Indianapolis:
What county is Indianapolis, Indiana in?
Indianapolis is in Marion County.
Where is the nearest commercial airport to Indianapolis, Indiana?
The Indianapolis International Airport is about 14 miles or 18 minutes from Indianapolis.
How far is Cincinnati, Ohio from Indianapolis, Indiana?
Cincinnati, OH, is 135 miles or about 2 hours and 20 minutes from Indianapolis, IN.
Things To Do In Indianapolis IN
Indianapolis is known for its Motor Speedway and the Indy 500, but there's more to do than watch cars speed around a track. Whether you like art, history, science, or being outdoors, Indiana has something for you! If you want to visit some quirky and interesting places in Indy, check out our top choices.
- Children’s Museum Indianapolis - Take your kids to see one of the many amazing traveling exhibits at The Children's Museum of Indianapolis. Whether seeing a new exhibit or revisiting others, there is always something new to learn or enjoy.
- Landmark’s Keystone Art Cinema - For an afternoon or night out on the town, you can catch an indie, foreign language film, or documentary at the Landmark's Keystone Art Cinema. You can even enjoy gourmet food while you watch your movie.
- Benjamin Harrison Presidential Site - Bring out your patriotic side by visiting President Benjamin Harrison's state historic site located in downtown Indy. Here you can learn about Harrison's life as a politician, be entertained at the Candlelight Theatre, and explore the seasonal exhibits that are available.
- Newfields - If you're looking for something educational, but fun, visit the encyclopedic Indianapolis Museum of Art, to see one of their many fascinating exhibits. This campus is also home to the Lilly House and many gardens, like the 100-acre Virginia B. Fairbanks Art & Nature Park. You may find this place to be a favorite spot as it hosts events such as their Harvest Nights.
- The Rathskeller - Party nearly every night at the Rathskeller Pub and Garden, where locals gather to chat and eat food inspired by German history. This place is a popular hang out for foodies and beer enthusiasts to enjoy people and have a good time!
- Indianapolis Zoo - Enjoy nature on your visit to the Indianapolis Zoo, located near the White River Gardens. You and your family can see over 3,800 animals within 320 different species! Like many zoos, this place can easily become a family favorite, so memberships are always available.
- Victory Field - Make it your favorite pastime and spend your free time at Victory Field, where you can see minor league baseball games and eat traditional ballpark food.
- Indiana Motor Speedway Museum - Visit the Indianapolis Motor Speedway Hall of Fame Museum where you can learn about the history of the IMS and explore many other seasonal exhibits.
- Artifacts - If you have a flair for style and a love for handcrafted gifts, then you’ll love shopping at Artifacts. Located in the village of Broad Ripple, this shop offers an intimate experience of connecting the customers with the creators who craft one-of-a-kind collections of jewelry, decor, paper goods, and gifts.
- Indianapolis City Market - Stop by the Indianapolis City Market any day of the week, to pick up groceries on your way home for dinner! Located at the east end of downtown, this market provides locals with easy access to fresh seafood, produce, meat, and dairy. Inside City Market is a section of artisan shops that sell handmade goods. Every Wednesday in the months of May-October, you’ll want to stop by the Original Farmer’s Market and shop for fresh produce, meats, and other goodies from local farmers.
Living In Indianapolis IN
Cost of Living in Indianapolis
The average cost of living in Indianapolis is slightly higher than the state average by 1.4%, which is still lower than the national average by 16.5%. People living in Indianapolis will typically pay more for groceries, healthcare, and transportation than the rest of Indiana, but pay about the same or less for homes for sale and utilities. The median household income in Indianapolis is $50,813.
Medical Access in Indianapolis
Houses for sale in Indianapolis provide quick access to several healthcare facilities, including these top hospitals:
- Indiana University Health Medical Center
- Ascension St. Vincent Hospital
- Community Hospital of Anderson and Madison County
- Franciscan Health Indianapolis
Weather in Indianapolis
When living here, you will want to be prepared for all types of weather. Indianapolis has all four seasons, each with its own unique beauty. The winter months are cold and have temperature ranges from 20° to 37° with snowfall, rain, and fog. Spring and summer months are warmer, with temperatures ranging from 63° to 83° and rain showers or thunderstorms intermixing with the sunshine. Fall is pleasantly cool in September with beautiful foliage of the tree leaves changing colors.
Jobs In Indianapolis IN
If you’re looking for real estate for sale in Indianapolis, you will be pleased to know there are many companies that are headquartered here. The city’s largest employer is Eli-Lilly and Company which manufactures pharmaceuticals. Some Fortune 1000 companies are based here as well, such as the retailer Finish Line, the automotive manufacturer Allison Transmission, and Calumet Specialty Products Partners which specialize in manufacturing hydrocarbons.
Transportation In Indianapolis IN
The city is structured with a straightforward grid layout throughout the Indianapolis real estate with the major roadways creating a pinwheel around the city. I-465 makes a loop near the outer edge of Indianapolis with several other roads converging like spokes on a wheel. I-65 enters from the northwest and south, which connects to Lebanon in the north and several cities from the south including Whiteland and Franklin. I-69 enters from the northeast and southwest, which connects to several cities such as Anderson and Pendleton from the north and Bloomington to the south. I-70 enters from the east and southwest, which passes through Richmond in the east and Terre Haute in the west. I-74 enters from the southeast and passes through Shelbyville.
Like many major cities, Indianapolis offers a public transportation service, the IndyGo. The IndyGo Transportation Corporation has 30 fixed routes, allows booking reservations through flexible services like Open Door, and if you’re a Veteran, you get to ride free!