Indiana Real Estate Market Trends & Analysis

The Indiana real estate market has seemingly ignored the fact that the rest of the country has tempered its real estate expectations. Largely in part because of the same inventory shortage facing the rest of the country, real estate in Indiana is expected to continue rising in value for an eighth consecutive year.

That said, Indiana appears able to maintain its momentum thanks to a combination of favorable economic indicators, not the least of which include low interest rates, better employment numbers, and higher wages. Indiana’s current market conditions bodes incredibly well for sellers and communities. However, inventory restrictions are posing a challenge to buyers. As a result, those looking to acquire a home should go into the process ready to make an offer, which suggests financing should already be in place.

Indiana Real Estate Fees & Regulations

Real Estate

Closing Conducted by: Title Companies, Lenders, Real Estate Agents, Attorneys
Conveyance: Warranty Deed

Foreclosure Procedure

Primary Foreclosure Method: Judicial
Process Period: 5 - 7 months
Notice of Sale: Sheriff
Redemption Period: None

Taxes

Income Tax: 3.30%
Corporate Tax: 8.50%
Sales Tax: 7.00%
Estate Tax: No
Inheritance Tax: No
Median Property Tax: 0.85%
Property Taxes by County: http://www.tax-rates.org/indiana/property-tax#Counties

Average Transactional Costs

Closing Cost: $2,440.00
Transfer Fee: No Fees
Origination Fee: $1,796.00

Overview

  • Median Home Value: $147,400
  • 1-Year Appreciation Rate: +8.1%
  • Median Home Value (1-Year Forecast): +4.0%
  • Median Rent Price: $1,145
  • Price-To-Rent Ratio: 10.72
  • Average Days On Market: 59
  • Unemployment Rate: 3.4% (latest estimate by the Bureau Of Labor Statistics)
  • Population: 6,691,878 (latest estimate by the U.S. Census Bureau)
  • Median Household Income: $52,182 (latest estimate by the U.S. Census Bureau)
  • Percentage Of Vacant Homes: 11.27%
  • Foreclosure Rate: 1 in every 2,158

Indiana Foreclosure Trends & Statistics

Tax Lien Investing

  • Tax Lien or Deed: Tax Lien State
  • Interest Rate: 10% in 1st 6 Months / 15% in 2nd 6 Months (= up to 25% in 1 Year) / 10% on Overbid Amount
  • Redemption Period: 120 days - 1 Year (depending on property type)