Buying A Home in Indianapolis
Buying a Home in Indianapolis
If you’re looking to move to a big city with a small-town feel, then Indianapolis is definitely a place to consider. This ever-changing city has a low unemployment rate of 4.2%, a dynamic sports scene, and one of the best growing sustainable food and agriculture scenes in the country. Located in the heart of the Midwest, Indy is a welcoming city with a growing economy. Here is a brief rundown of the Indianapolis lifestyle where many of your mortgage lenders in Indianapolis at First Option call home.
Indianapolis is a very family-friendly place, and it has a growing millennial/generation z population. Nearly 66% of the population in Indianapolis live in family households, and more than 35% of the residents are under the age of 25. Many of these families and young residents are attracted to the city’s low cost of living (more on that in a bit) and the job opportunities.
Though Indianapolis has long been predominantly Republican, the city is becoming more liberal-leaning in recent years.
If you’re looking to jumpstart your career, Indianapolis is ranked 21st in the US. This is due to the healthcare industry and growing technology sector. According to Forbes Magazine, the cost of living in Indianapolis is 7.6% below the national average making it a great place to both live and work. The average annual salary is $45,780, which is slightly lower than the U.S. average of $48,320. And the average price for rent is a little over $800.
Indianapolis has seen extensive job growth over the past few years, with healthcare, tourism, and sports among the top industries there.
More than 90 national companies have headquarters in the city, including Eli Lilly and Company, Anthem Inc., Angie’s List, RCI, Simon Property Group, Dow AgroSciences, Finish Line and the NCAA. Which, obviously, is a good thing if you’re looking for work. Indiana is one of the only Midwest states guaranteeing residents the right to work without the obligation to join a union.
Indianapolis isn’t called “The Crossroads of America” for nothing. Several major interstates surround and intersect the city, allowing for easy access to road trip to other destinations in the Midwest.
The Indianapolis International Airport serves all major US airlines and flies to over 40 non-stop domestic destinations. In 2016, the airport received the highest satisfaction rating from customers for medium-sized airports by USA Today.
The city is on its way to becoming one of the greenest, most sustainable cities in the nation. While Uber and Lyft have dominated nationwide, Indianapolis is launching its own companies to promote ride-sharing and decrease dependency on owning cars. Companies like Blue Indy, a car rideshare program, make it easier for people to get around without having to own their own cars.