What It Means For You as a Rental Property Owner
Thinking about moving to Indiana? There are a lot of cities in and around the Indianapolis area that provides great opportunities in property management. Greenwood, IN, for example, is a prosperous city with multiple opportunities for landlords and residents alike. For the last few years, Indianapolis and the suburbs around it continue to thrive economically. With consistent job increases and more homes being built every year, property managers should look to Indiana as a great place to invest in a rental property.
Economic Growth
Indiana has seen steady job growth recently, with just over 44,000 jobs added between September 2015 and September 2016. These facts come from the U.S. Bureau of Labor Statistics. Stats from the Indiana Business Research Center and the IU Center for Econometric Model Research show that for the next two years, Indiana is projected to add 60,000 jobs and the unemployment rate will decrease. This is great news for those involved in rental property management. Rental property owners know that the more jobs that are created, the more people will move to the area and the demand to lease a rental property will increase. Those who live in Indiana will also see a growth in their personal income that will outpace the U.S. over the next two years.
The Indiana Housing Market
You want to live in Indiana right now, or at least own property there. Indiana has stable housing values, and the rental vacancy rate is 10% compared to the U.S.’s 6.7%. That means there are more single-family homes to buy or lease in Indiana compared to the nation, and more houses are being built every day. Not only that, but most houses in Indiana are affordable, with a median sales price of about $140,000 in 2016. The housing market in Indiana continues to show positive trends for investors and those interested in property management.
Rental Property Management Landlords Count On
To get a jump start on Indiana’s great housing market, you need a local professional by your side. At Real Property Management Indianapolis Edge, we know the local real estate market because we are locals too! To find a rental property with great potential, call us to assist you. We will even help you set the right rent rate based on our local knowledge in property management. Greenwood has a lot of laws, licensing and insurance requirements that you need to know as a landlord, so let our team of experts help you with that. Contact us today to find out more.
More information on Indiana’s economy and the housing market can be found at:
http://www.ibrc.indiana.edu/ibr/2016/outlook/housing.html
https://www.iu.edu/~ibrciuws/analysis/cemr/in-summary.html
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
