The city ranks as one of the nation’s top three most livable downtowns and has a cost of living 6.5 percent below the national average. With the fifth-lowest homeownership costs for a large US metro area, it’s possible to afford that historic home in the Herron-Morton Place neighborhood, a condo among the young professionals of Broad Ripple, or an artist’s loft in Fountain Square.
Indianapolis' population is 2.1M, with a total workforce of 1.1M. The labor market grew by 3,700 jobs over the past year, up by 0.3%. The median household income in Indianapolis is $62,774, 2.9% higher than last year and 0.6% below the national average of $63,179.In the housing market, total permits issued totaled 9,014 over the last twelve months, up 0.9% year-over-year. Indianapolis has 288 active new home projects on the market, 4.6% fewer than the 302 from last year. The average list price in the market is $293,821, 1.3% higher than last year and 8.6% below the national average. Over the last three months, new home contracts increased by 5.8% to 1,525. Indianapolis and Westfield had the highest concentration of the new home contracts in the Indianapolis market.