Forbes.com has recently named the 10 most affordable cities in which to buy a home. Affordability was based in part upon the percentage of the population who could afford the median priced home in that area.
Forbes.com went even further than that raw number, however. They also looked at the costs of home ownership in the form of percentage of monthly income going towards property taxes and insurance.
And finally they projected whether the future home prices were expected to rise or fall.
Of the cities with a population of 500,000 or more, Indianapolis ranked #2.
95% of the population can afford a median priced home in the Indianapolis market. On average here in Indianapolis we spend only 20% of our monthly income on housing and housing related expenses.
Although Forbes.com did not look at quality of life issues, I would also add that in addition to being affordable, the Indianapolis metro area is just a great place to live. We have it all. Professional sports (Pacers, Colts, Indians, Indianapolis 500, Brickyard 400, etc). Arts: (Indianapolis Museum of Art, Indianapolis Symphony Orchestra, Eiteljorg Museum of Western Art, Indiana Reperatory Theater, to name a few). Amateur and college sports (NCAA Final Four, Butler Bulldogs, as example), Education: (IU School of Medicine at IUPUI, University of Indianapolis, and multiple other universities and colleges). And we can’t forget great parks and trails systems.
We love living in Central Indiana and we think you will, too. Contact Atlas Property Group, LLC for all of your residential and commercial real estate needs. 317.709.5122.
And the #1 city for affordable housing? Congratulations go to Pittsburg, PA.