In this edition of The TurboTenant report, discover the top locations for buying investment properties in Indiana. We have selected three towns that offer great potential for investors: Gary, Anderson, and Fort Wayne. By analyzing data from various studies, including median listing prices and TurboTenant's proprietary data, we have narrowed down the best options for you. Let's dive in and explore these exciting opportunities.
#3: Gary, IN
Gary, located just 25 miles from downtown Chicago, offers a unique investment opportunity. Although it has experienced a decline in population due to the decline of the once-booming steel industry, the city is now focused on stimulating economic growth. With over $100 million in non-governmental investment over the past few years and its proximity to Chicago, Gary shows promise for long-term investment. The median listing price of properties in Gary is $40k, making it an affordable option. Landlords are receiving an impressive 57 leads per property, with properties spending just 16 days on the rental market. With strong rental demand and affordable prices, Gary is worth considering for your investment portfolio.
Picture: Gary, IN - A Promising Investment Opportunity
#2: Anderson, IN
Just 34 miles northeast of Indianapolis, Anderson is a hidden gem for real estate investors. The town takes great pride in its art and music culture, with monthly concerts and multiple productions per year. Outdoor enthusiasts will enjoy exploring Mounds State Park, which features fascinating earthworks dating back to prehistoric Indian cultures. Anderson offers affordable housing, with a median listing price of $80k. The average rent is $624 per month, providing a solid return on investment. With 58 leads per property and properties spending only 12 days on the market, Anderson presents a fantastic opportunity for rental investors.
Picture: Anderson, IN - An Affordable Housing Market
#1: Fort Wayne, IN
Fort Wayne, the second-most populous city in Indiana, offers a thriving real estate market. Located in the northeastern part of the state, Fort Wayne is known for its sports, music, and excellent food. The city is also home to the nation's largest public genealogy collection, attracting visitors interested in exploring their family history. Fort Wayne boasts affordable housing, with a median listing price of just $139k. The average rent is $766, ensuring a favorable return on investment. Landlords receive around 23 leads per property, and properties spend only 12 days on the rental market. With a 7.6% increase in home values and positive population and employment growth, Fort Wayne is an exciting destination for real estate investors.
Picture: Fort Wayne, IN - A Thriving Investment Hub
Once you've selected the perfect investment property in Indiana, TurboTenant can help streamline your landlording process. With easy and free online rental applications and thorough tenant screening, TurboTenant empowers you to find the best renter for your property.
About the TurboTenant Report
The TurboTenant Report analyzes data from active listings across all 50 states, along with third-party real estate, population, and employment growth data. Our goal is to empower both seasoned and novice investors to make informed purchasing decisions when it comes to rental investment properties. For more information or custom data requests, please contact [email protected].
Sources:
- TurboTenant Rental Data
- Fastest Growing States Population
- The Best and Worst Cities to Own Investment Property
- Real Estate data provided by Redfin, a national real estate brokerage.
