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How Much House Can I Buy for $350,000 - Indianapolis

The name of Indianapolis, Indiana’s capital and largest city, is usually associated with one of the world’s most notable auto races (alongside Le Mans and the Monegasque Grand Prix), the Indianapolis 500. But more people than just all-time heroes of racing like Mario Andretti and Helio Castroneves have found success in Indy – the city is also home to the headquarters of major pharmaceutical manufacturer Eli Lilly, favorite regional burger chain Steak ‘n Shake, and numerous other large companies, as well as two nationally known universities.

How Much House Can I Afford?

Indianapolis is home to two professional sports franchises with championship traditions: The NFL’s 2006 Super Bowl winning Colts, and the NBA’s Pacers, who had a remarkable run of three league championships in the 1970s. And the aforementioned Indy 500 has been held every Memorial Day for about a century.

The Indianapolis International Airport isn’t just a big deal because of the number of people who fly through it – the delivery company FedEx uses it as one of its primary hubs to ship goods through the U.S. and around the world. Indianapolis is also a regional rail transit center for passengers to Chicago, Philadelphia, Washington DC and New York.

Indianapolis’s universities of higher education include the large state college Indiana University, which has more than 30,000 students at its Indianapolis campus, and the smaller, private Butler University, which is the smallest college ever to make it to the NCAA men’s basketball (March Madness) finals.

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Notable people from Indianapolis include America’s first self-made woman millionaire, Madam C.J. Walker, mummy-hunter Brendan Fraser (those films were documentaries, right?), wild-haired comedic author Kurt Vonnegut, and late night host David Letterman.

Zillow says Indianapolis homes have a pretty low median price per square foot – so you can buy a well-appointed home in the Speed City for relatively cheap. Here’s what $350,000 gets you:

  • 3963 N Pennsylvania St
    Location: 3963 N Pennsylvania St Price: $319,000 Size: 4 Beds, 3 Baths, 3,073 sq ft Highlights: "This beautiful, classic Dutch Colonial in Meridian Kessler has a blend of character and desired updates. Note wood floors, crown molding, and french doors leading to dining room and living room. Smart remodeled kitchen, with eat-in area, offers Kraftmaid cabinets, granite counters, stainless steel appliances, and wine bar. Mudroom has a good connection to spacious, landscaped lawn and attached garage." Photo credit: Zillow

Thinking of living the fast life in Indianapolis? Our home affordability calculator could help.

Photo Credit: flickr

Alex Silady Alex is a graduate of New York University's journalism school. He has penned and edited articles, features and videos for news, politics and entertainment websites, both in the US and abroad. His specialties are archival research and the history of finance. His areas of expertise include home buying, small businesses and banking. Alex's hobbies include video games, especially RPGs, and following NHL hockey.
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