Why Indiana?
- Demand for housing from first time homeowners has stayed very strong.
- Interest from out of state investors is at a 10-year high.
- Section 8 rents tend to average 10-15% higher than fair market rents in low income neighborhoods.
- New Democratic Congress will increase section 8 spending!
- Other Midwest cities have negative population growth. Indy has POSITIVE GROWTH.
- Unemployment in Indianapolis is less than national average.
- Indianapolis a HUGE SPORTSTOWN. NCAA headquarters, largest Indy car race (500), 2nd largest NASCAR race (brickyard 400), largest drag racing event (US nationals), 2012 Superbowl.
- Huge pharmaceutical industry! Eli Lilly world headquarters and countless associated companies.
- Less than 10% vacancy rates. Rents rising at 5% a year coupled with a the last 2 years only having a 3.5% drop in values (low compared to rest of country)
- Because it is the State Capitol, there are thousands of government jobs.
- Three universities—Butler, Indiana University-Purdue University Indianapolis (IUPUI), University of Indianapolis. Over 50,000 full time students.
- Indianapolis has a Convention industry that is growing rapidly. Hotels are running at 97% occupancy causing construction of new convention center and 1000 new hotel rooms.
- Capitalization rates of 12-20% in working class and middle class investors.
- Most affordable housing in the US. (median income compared to median home prices)
- Lowest unemployment rate in Midwest.
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