Indianapolis has long had a reputation of being a sleepy little midwestern town in the middle of a three-state wide cornfield. There is some truth to that assumption. Indianapolis is land-locked, relatively flat, easy to get around and, well, in the middle of a three-state wide cornfield. Let’s take a look at how these factors, along with strong economically-minded political leadership, have consistently positioned this “sleepy little midwestern town” as one of the strongest economic markets in the country.
Indianapolis is the largest city in the United States that is not located adjacent to a major body of water. Because central Indiana is relatively flat, there are very few areas within the city limits which are geographically prohibitive to development. This has contributed to relative stability in the Indianapolis Real Estate market in comparison to other locations across the nation. For example, while the valuation of the California Real Estate market has experienced wild fluctuations over the past decade, Indianapolis has seen relatively stable performance.
Indiana has a strong history of political leaders who have focused on the economic growth of our community. Starting with then Mayor and now Senator Dick Lugar in the 1970s, we’ve seen a string of mayors who have focused on bringing major sporting events to our city in an effort to promote convention business. These efforts have been overwhelmingly successfull. Since 1970, there have been over 30 major building projects in the downtown Indianapolis are, including the new JW Mariott Hotel and Lucas Oil Stadium, home of Super Bowl 46.
In addition to attracing major sporting events, the State of Indiana has poised itself as a top destination for life science initiatives. Already home to major corporations such as Guidant, Anthem and Eli Lilly, Indiana’s political leaders long ago recognized the need to look beyond the rust-belt manufacturing industry if we were going to see sustained economic growth in the 21st century. The Bio Crossroads initiative has helped Indiana position itself as the third highest exporter of life sciences products in the U.S., with 2011 exports valued at $9.1 billion. What’s even more important is that the life sciences business is growing strong, attracting more businesses to the area and fueling the strong local economy.
Indy’s geographic location combined with it’s political policies that promote strong economic conditions have created the perfect storm for cheap housing in desirable neighborhoods. Prices of goods and services in Indianapolis remain low while job opportunities are plentiful! Year after year Indy finds its self being ranked in the top of America’s most affordable cities.
We invest in Indianapolis Real Estate because we see value and potential for economic growth, both in the properties that we purchase and the city overall. We buy, sell and manage properties for investors all over the U.S. including our vast local network who sees that same potential and takes action.