Why is Indianapolis so affordable? (rated, personal, color)

[Toxic Toast]

Mod cut: Quoted post deleted.

Indy compares well with other mid sized cities. Places like Chicago are global world class cities, obviously they are more vibrant.

[Wrigley17]

Originally Posted by Toxic Toast

Indy compares well with other mid sized cities. Places like Chicago are global world class cities, obviously they are more vibrant.

Exactly. The Midwest in general is low cost of livIng. The poster is from California. Reason 1 Indy is low col. reason 2 is that while it compares well to other major Midwest cities, it still lags behind on average and has a lower population. There is still plenty of undeveloped land around Indy to build on.

[Graywhiskers]

Mod cut.

So lets drop Chicago from the discussion, as the OP did not ask about Chicago. Indianapolis is affordable. Indianapolis has had steady growth. Parts of the country with rapid population growth have had larger increases in the cost of housing. In Indiana, both Democrats and Republicans like to be fiscally responsible, this limits property taxes that are a significant part of housing costs. Now California has reasonable property tax rates, but a 1% tax rate on a million dollar home is still a lot of money, when the same home in Indianapolis might go for $250,000. A lot of the electricity here is generated with coal, which keeps electric bills low. Cost of utilities being part of total housing costs, of course with good climate, California does well here. We have no nuclear plants, that actually raise cost of electricity, especially when they have to be decommissioned. Labor for building homes is non-union, unlike some states that use union labor. California has many unnecessary restrictions on new construction, which are intended to slow growth, which it does, and it increases the cost of housing. Much of California appears to be in a new housing bubble, it feels like 2007. There is much less speculation in housing in Indianapolis, compared to the hot spots in California.

The actual costs of concrete, lumber, cabinets, furnaces, and so on, are the same. Cost of real estate is another major factor in the difference in cost of housing. Those 40 million people in California are concentrated in a very small land area, not evenly distributed throughout the state.

[Bitey]

Originally Posted by 49erfan916

What's the deal? I live in CA where 200k will get you a jordan shoe box to live in. What are the downside to Indy? Is it not an idea place to live? IS the weather bad? It seems like Indy's home prices are too good to be true.

Others have mentioned the less than desirable climate and the complete lack of geographical barriers to development expansion. One factor not mentioned is Indy doesn't have herds of tech industry fools who will spend stupid amounts of money on property simply because they have it to spend.

[James Bond 007]

Indy and the Midwest are affordable because there are no palm trees, beaches or mountains, and it gets cold and snowy in the winter. As a result it's not a particularly hip and fashionable place to move to.

[paintedeagle]

Originally Posted by Graywhiskers

Indianapolis is affordable. Indianapolis has had steady growth. Parts of the country with rapid population growth have had larger increases in the cost of housing. In Indiana, both Democrats and Republicans like to be fiscally responsible, this limits property taxes that are a significant part of housing costs.

Meanwhile, people who move here, especially Chicagoans moving here to escape the socialist type Chicago/Illinois government, keep their license plates for YEARS due to the taxes on cars. The lawmakers here make up for it one way or another in Indiana.

Indiana is one of a ton of Midwestern states that have people who retire to the South. The weather isn't that great in Indiana. Let's face it. A few weeks back it was freezing cold...then near 90 the next week. Heat one week...then A/C the next. It's a rarity you don't have to use one or the other here. Then...rain for days and days. Gloomy concrete gray skies are a norm here. It's one big reason people retire to the South from the Midwest. We get plenty of storms due to the Gulf Stream. It comes up from the Gulf, gets pushed North, and then moves East from there. Go into Nebraska and they don't have to deal with the Gulf push...and are much drier than the rest of the Midwest. The moisture allows us to grow a lot of crops.

Houses are affordable here . You'll be in neighborhood that used to be a cornfield for the most part. Nothing particularly great to look at from a scenic perspective. It's flat here unless you go to Brown County. On the weekends, Brown County gets hit pretty hard due to people needing to go see something scenic. However, the parking in Indy is only only a few dollars for 3 hours. It's the best bargain in the city.

[W & C]

Not sure what all the arguing is about.

Can we not agree that different people are allowed to have different values when it comes to what they look for in a place to live (or anything else in life, for that matter) ?

For some, Indy is very attractive due to low COL and vibrant/cultured enough - whereas others prefer a bigger city/better geographical location and would gladly pay a premium to have that ?

I mean, what good is money in your bank account if you don't spend it on things that you value ?

[PJSaturn]

This thread has been cleaned up and numerous inappropriate posts have been deleted. Personal attacks and trolling are not tolerated here. To those who stayed on topic and played nice, thank you. The thread will remain closed.
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