Indianapolis, IN Single Family Homes for Sale | realtor.com® (2024)

FAQs

What is the average price of a house in Indianapolis? ›

Indianapolis, IN housing market

In May 2024, the median listing home price in Indianapolis, IN was $275K, trending up 1.9% year-over-year. The median listing home price per square foot was $149. The median home sold price was $255K.

Indiana FSBO Overview

You can sell your house without a realtor. It is likely you will need the help of a title company, though. Selling a house by owner in Indiana is not necessarily difficult.

With an affordable cost of living, exceptional weather, opportunities for higher education, and a booming job market, Hoosier City is one of the best places to call home for people living in the Midwest. Check out these 13 things to know about living in Indianapolis!

Q: What are the richest parts of Indianapolis? A: With average home values of $485,700 and $395,800, respectively, Geist and Meridian Kessler are considered some of the “richer” parts of Indianapolis.

Buyers may pay most of a home sale's closing costs, but sellers usually run up a bigger tab. Real estate commissions, which typically run between 5 and 6 percent of the home's sale price, account for most of that sum. For a median-priced $258,400 Indiana home, 5.5 percent comes to $14,212.

No, you don't need an attorney to sell property in Indiana. However, it is recommended to hire a real estate attorney to deal with all the legalities involved in the process.

no person shall, for consideration, sell, buy, trade, exchange, option, lease, rent, manage, list, or appraise real estate or negotiate or offer to perform any of those acts in Indiana or with respect to real estate situated in Indiana, without a license.

Indiana FHA Loan Requirements

Contact your lender to discuss loan specific requirements. Here are some general FHA loan requirements for Indiana. A credit score of 580 or higher: A lender may accept credit scores of 500-579 under certain conditions. A credit score lower than 580 will require a larger down payment.

As the capital city in one of the most affordable states to live in the U.S., Indy is an excellent place to settle down. If you're moving to Circle City, here are the best neighborhoods in Indianapolis to buy a home!

The Gap: A Shortage of Affordable Homes also reveals that there are 209,710 extremely low-income households in Indiana (an increase of 10,660 since the 2023 report) but only 70,392 affordable and available rental homes available to them (a loss of 7,862 units).

What is a good salary In Indiana? ›

$37,141 is the 25th percentile. Salaries below this are outliers. $60,786 is the 75th percentile.

Indiana's home prices are considered very affordable when compared to the national average, with the typical home costing $215,818, according to Zillow's February 2023 data.

The cost of living in Indianapolis, IN is 1% higher than the state average and 8% lower than the national average. Indianapolis, IN housing is 20% cheaper than the U.S average, while utilities are about 3% pricier.