Chris Carmen / November 30, 2016
Indianapolis does not have a shortage of advantages when comparing the Midwestern city to others throughout the country. One of the most highly influential factors is the cost of living. A recent study conducted by Point 2 Homes highlighted Indianapolis as #4 for the best value when seeking a home.
The study specifically focused on homes for $300,000 in cities such as Los Angeles, Portland, Philadelphia, and Tuscon. For $300,000 in Indianapolis, the data showed that the median amount of square footage for a home sat at 4,110. Additionally, Indianapolis homes commonly include a yard, whereas, in Manhattan and urban cities, $300,000 will get you a small condo on the 9th floor of a building. For Los Angeles, the median amount was 647 square feet. The contrasts between cities can be quite substantial with Point 2 Homes pointing out that, “you can get 42 times more space in Detroit for the same money as you can in Manhattan.”
With new tech talent surging through the various in-state university and tech companies migrating, Indianapolis is continuing to establish its role as a new tech hub. The incredible value of homes in Indianapolis is yet another contributing asset to the city’s impressive resume. The value of affordable housing became obvious to me when CARMEN represented a California based insurance company selected suburban Carmel, Indiana as the location to set up its Midwest regional office. The company was overwhelmed with requests from employees to relocate to the company’s new Central Indiana office, many with the hope of being able to live the American Dream by buying their own home and improving their quality of life.
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