Top 5 Best Real Estate Investment Markets In Indiana

From home type to location to market fluctuations, there’s a lot to consider when making real estate investments. Any investor wishes they could predict the future, but all we have is the current market data and hypotheses on future trends. However, when you partner with an experienced agent, you will have access to industry insights that independent investors won’t. In addition to their expert advice, it’s a good idea to study the market on your own. If you’re considering investing in real estate in Indiana, here we go over the top five markets to help narrow your options.

Good investments require a lot more than just money. You need to consider the areas where you’re investing and pick the right type of investment that will favor you in the long run. In addition, you need to go through the trading process. This is why you need to work with professional Columbus, Indiana realtors when you begin your investment journey. From the bustling state capital to family-friendly towns, Indiana has great options for investors.  

Indianapolis

Indianapolis has one of the hottest real estate markets in the state. This state capital has even found its way to Forbes’ list of top investment markets in 2019.

Indianapolis still records low median home values, with the current value pegged at $144,200. In the past year, Indianapolis recorded a price jump of 15.1%. They aren’t stopping there. Real estate agents in Indiana predict that the prices could rise by another 7.2% in the next couple of years.

Despite the low home values, the city still has an average rental price of a little over $1,100 per month. More than half the residents of Indianapolis rent their homes. Investing in long-term rentals promises a great ROI.

In general, the city is good for landlords. The short-term rentals also do pretty well for those who want to be a part of the lucrative tourist market.

One of the first things you should do before you begin investing is to look for a professional local realtor with a lot of experience in finding excellent deals for investors. Finding the right agent often determines how well you do in the investment market. It also affects how much of your goals and budget you are able to accomplish. This gives you ample opportunity to begin building your profits early.

Fort Wayne

Fort Wayne is one of the largest cities in Indiana. It has similar values to Indianapolis, with median home values rising by 10.2% and settling at $132,700. There are expectations that the home values will continue to rise into 2023.

One of the main things attracting attention to Fort Wayne is the affordable rent and vibrant industry. More people are beginning to settle in Fort Wayne because of its accessibility. In addition, if house flipping is something that appeals to you, Fort Wayne presents an excellent opportunity to join the market. Buyers are moving into Fort Wayne in droves to claim a stake in the market with its low prices. With the predicted market growth, all you have to do is wait, and you’ll be swimming in tons of offers.

Fishers

If you have a bit of money in your pocket and want it to work for you, then Fishers is the right place to go. Its median home values are steady at $265,500—higher than the average in Indiana. In the past year, Fishers’ average home value has risen by 7.5%, and another 4.2% increase is expected before long.

The higher average property value in Fishers has directly affected the rent in the city. At $1,550, it’s higher than Indianapolis yet has access to the same amenities. In fact, Fishers is only 20 miles away from the state capital, but it is a lot more relaxed than the capital. It also appeals to young families because of its laid-back appeal and its easy access to the city.

Mishawaka

Mishawaka is on the radar of many real estate investors because of how close it is to the Great Lakes. Mishawaka is found on the northern border of the state. Even though the Great Lakes aren’t technically within the state, it doesn’t really change anything about the desirability of Mishawaka.

The home values in Mishawaka are affordable. The only notable rise recently is the 9.1% increase to $117,400. A 4.3% increase is likely to occur in a couple of years. The most attractive thing to tourists who visit the city is the Great Lakes. Through this opportunity, short-term rentals can make a very lucrative business.

Lafayette

The real estate market in Lafayette is perfect for those who are able to think ahead. The 7.6% increase in price in the past year has greatly affected the real estate market within the city.

The main attraction of Lafayette is its location. It is a small town rich in history and culture and only an hour from the state capital. It is charming and quaint yet home prices are still low which attracts both residents and tourists. Several analysts expect this town to become a hot investment bed in the next decade.

Conclusion

These cities are the best locations for real estate investment in Indiana. As you study these markets, you should remember to consider all the factors that affect real estate growth.

To make things easier for you, you should work with a professional local real estate agent who can advise you on the best investment decisions. Sound advice can make the difference between a good investment and a bad one. If you really want to make profits from your investments, then you should consult a professional.