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Housing & Neighborhoods
Median Home Prices1
City
Median Home Price (revised 2nd Q 2003)
Indianapolis, IN
$122,300
St. Louis, MO
$123,300
Louisville, KY
$131,200
Memphis, TN
$135,000
Cincinnati, OH
$140,000
Greensboro, NC
$140,800
Kansas City, MO
$144,700
Columbus, OH
$150,000
Atlanta, GA
$151,400
Charlotte, NC
$153,300
Chicago, IL
$241,900
 
New and Existing
Single Family Homes
New Single Family Homes2
Building Permits Filed
4,223
 
Existing Single Family Homes3
Number of Homes Sold
13,237
Median Sale Price
$104,900
Average Sale Price
$118,179
4 Bedrooms
$170,368
3 Bedrooms
$108,677
2 Bedrooms
$80,061
Condominiums
$115,393

Whether you are looking for an historic neighborhood, a low-maintenance condo or a new subdivision, Indianapolis has a variety of housing solutions to meet your need. Click on the links below to read more about neighborhoods in Indianapolis.

Broad Ripple
Mapleton-Fall Creek
Beech Grove Martindale Brightwood
Butler Tarkington Meridian-Kessler
Crooked Creek Near Eastside
Cumberland Near Westside
Fountain Square Speedway
Irvington UNWA
Lawrence    

Broad Ripple
Broad Ripple is a residential area attractive to young professionals and a community with a vibrant nightlife, drawing thousands to its streets and businesses. Residents and visitors can take a stroll down the Monon Trail, a “rail-to-trail” project, stop at the small specialty stores along the central canal, eat at one of the many restaurants or visit the Indianapolis Art Museum.

Location: northeast Indianapolis bounded by the White River, Keystone Avenue, Kessler Boulevard, and Meridian Street.

Beech Grove
Beech Grove is a third class city with over 14,000 residents. Beech Grove is mainly a residential community although many large businesses are located here. The largest employers are St. Francis Hospital with more than 3200 employees and the Amtrak Repair Facility with over 500 workers. This community offers a small town feel with big city amenities.

Location: southeast portion of Marion County

Butler Tarkington
Butler-Tarkington is a well-established residential area with housing built in the early 1990s. Home to Butler University, Christian Theological Seminary, Crown Hill Cemetery, 2 small commercial areas, several neighborhood schools, and several community active churches, this stable community has often been sited as an example of successful racial integration.

Location: northwest Indianapolis bounded by the Central Canal and Michigan Road, the west side of Meridian Street, 38th Street, and Westfield Boulevard.

Crooked Creek
Crooked Creek is home to a mainly residential area with unique attributes which include three long-established country clubs, numerous churches, five synagogues as well as several Jewish educational and community institutions, Indiana School for the Blind, private schools including St. Luke’s, Park Tudor, Sycamore School and Orchard School. On its outer edge, amenities include Butler University, the Indianapolis Museum of Art, Christian Theological Seminary, the Indianapolis Civic Theatre, The Women’s Hospital of Indianapolis and St. Vincent’s Hospital, and a large medical complex.

Location: far northwest Indianapolis bounded by 79th Street on the north, White River on the east, 38th Street on the south and Township Line and Lincoln Roads on the west.

Cumberland
Established in the mid-1800s, Cumberland continues to identify itself as a community rather than a suburb of Indianapolis. Access to I-70 and downtown Indianapolis has kept this area popular. Glen Oaks and Cumberland Heights are its major subdivisions. The Mount Comfort Airport sits on its border and the recent recommitment to the Washington Square Mall provides residents with viable shopping.

Location: west Indianapolis bounded by Post Road to the west, 700 w to the east, just south of Washington or US 40 to the south, and I70 to the north.

Fountain Square
There is a rich history to Fountain Square dating back to the being Indianapolis’ southside commerce center in the 1860s. Its turnaround at the intersection of Virginia Avenue and Shelby and Prospect streets has been home to several fountains, thus establishing this areas name. It has a German heritage and was placed on the National Register of Historic Places in 1983. Fountain Square is home to commercial and residential areas as well as Garfield Park.

Location: southeast of downtown Indianapolis, bounded by Washington Street on the north, State Avenue on the east, Pleasant Run on the South, and Madison Avenue on the west.

Irvington
Road and rail transportation east of Indianapolis led to the development of this secondary commerce center in the mid-1800s. It was developed mainly as a residential area with strong ties to education. It was the original home of Northwest Christian University (now Butler University) the second or third coeducational college in America. Over the years, the urban sprawl of Indianapolis annexed Irvington. Irvington remains a distinct community with older homes that reflect the educated elite culture it was founded on. It is home to Pleasant Run Park.

Location: east Indianapolis bounded on the north by East 10th Street, on the east by Edmondson Avenue, on the south by Brookville Road, and on the west by Emerson Avenue.

Lawrence
Incorporated in 1929, Lawrence’s growth was spurred by Western Electric, Ford and Chrysler plants on nearby Shadeland Avenue. It was once home to an active military base: Fort Benjamin Harrison. After the base closure in 1997, the City of Lawrence has done extensive redevelopment of this base including residential redevelopment, commercial development and creating a state park on the grounds. Fall Creek provides beautiful landscape and the suburban sprawl around Geist Reservoir allow for continued growth.

Location: far east Marion County is bounded roughly by Lee Road and Fall Creek on the west, the Geist Reservoir on the north, County Line Road on the south, and 62nd Street and 56th Street on the south.

Mapleton-Fall Creek
Originated in 1880s and annexed in 1902, Mapleton became "the" place to live in the city in the 1920s. With urban sprawl, this area has transitioned over the years. The Children’s Museum of Indianapolis, Ivy Tech State College, Lilly Endowment and the Indiana State Fairgrounds are located along this neighborhood’s edges and continue to support the revitalization of this area. In addition, the Mapleton/Fall Creek Neighborhood Association is one of the most active neighborhood groups in the city. In 1981, an eight-block area was declared the first urban renewal area in the city. This effort continues to this day.

Location: near northside bounded by 38th Street; on the southeast by Fall Creek Parkway North Drive and on the west by Meridian Street.

Martindale Brightwood
This neighborhood started in the 1870s as an industrial community with many residents employed in machining and manufacturing. It is home to Douglas park and Martin University. A predominately African-American community it has faced the common challenges facing most intercity working class neighborhoods. The Martindale-Brightwood Community Development Corporation has worked hard to continue to address the needs of the community and some revitalization has been seen. It opened Ralston Estates, a new housing development, in 1995 and in 1998 Jirah Sports created a facility for youth sports.

Location: near northside bounded on the north by 30th Street; on the east by Sherman Drive; on the south by 21st Street until it meets Massachusetts Avenue and then south on Massachusetts to 10th Street; and on the west by the Conrail tracks.

Meridian-Kessler
Meridian Kessler is a unique neighborhood located on the main artery running north of Indianapolis. It is a historic neighborhood is racially and socio-economically diverse with magnificent mansions as well as smaller homes and apartments. It is home to the newly renovated Governor’s Mansion and is adjacent to Butler-Tarkington and Broad Ripple. It is on the National Register of Historic places and offers Home Tours and Decorator Showroom tours on regular basis.

Location: northside bounded on the north by Kessler Boulevard, on the east by the Monon corridor, on the south by 38th Street and to the west by Meridian Street.

Near Eastside
The neighborhoods in the Near Eastside area are Arsenal Heights, Brookside, Cottage Home, Emerson Heights, Grace-Tuxedo and Woodruff Place. Two are placed on the national register of historic places – Cottage Home and Woodruff Place. It is home to Brookside Community Park. The Near Eastside saw rapid growth in the 1910s and 1920s and has since fought the effects of urban sprawl. In recent years, organizations have been created to help this community including the Near Eastside Multi-Service Center, the Near Eastside Community Organization (NESCO) and the New East Industrial Center. The City of Indianapolis has continued to show support of the neighborhood by providing revitalization grants.

Location: boundaries are Massachusetts Avenue and 21st Street on the North; Emerson Avenue on the East; the Conrail Railroad tracks south of Washington Street on the South; and Interstate I-70 on the West.

Near Westside
Situated west of the White River, the Indianapolis Zoo and IUPUI, this once industrial community has had a spirit of revitalization and cooperation in the 1990s. Haughville is on the National Register of Historic Places. It has been the focus of four large, federally-funded revitalization programs, including a $190,000 planning grant to recruit and train community leaders and to formulate ways to launch a multi-faceted social service program and a promised $16.3 million over three years to revitalize the area.

Location: bounded by 16th Street on the north, White River Parkway West Drive on the east, the Conrail Railroad tracks south of Washington Street on the south, and Tibbs Avenue on the west. The three neighborhoods are Haughville, Hawthorne, and Stringtown.

Speedway
This city was built around the Indianapolis Motor Speedway, home to the Indianapolis 500, Brickyard 400 and US Grand Prix. Action is the word in this town in May ( and now June and August). IMS is a strong community citizen committed to the area, recently building a new headquarters facility and revitalizing the corridor that runs to the speedway from I-465. Residents are loyal to Speedway often growing up and moving back to grow their own family. Housing is very stable in the area. Other corporate citizens include Coca-Cola and Proxair.

Location: City of Speedway with boundaries of I-465 and High School Road on the west, 30th Street on the north, the eastern edge of the Indianapolis Motor Speedway on the east, and 10th Street on the south.

UNWA
This urban neighborhood on the near northwest side of Indianapolis is bordered by St. Vincent Hospital, Ivy Tech State College, Indianapolis Museum of Art, and The Children’s Museum of Indianapolis. Over the years, it has had several grants from the city for revitalization of small areas within its borders. For example, The Children’s Museum of Indianapolis is committed to the area around its facility at 30th and Meridian Streets. It is currently undergoing an expansion by adding a parking garage and preparing to open its Dinosphere exhibit in June of 2004. It worked with the City to upgrade 30th street from I-65 to its facility, while a new fire station was construction several years ago and housing improvements continue in the surrounding neighborhood.

Location: bounded on the west by the White River, on the north by 38th Street, and on the south by 16th Street. The eastern boundary forms a jagged, stair-step line: between 16th and 22nd Streets Fall Creek Boulevard is the boundary, between 22nd and 30th Streets I-65 is the boundary, and between 30th and 38th Streets Meridian is the boundary.

 
 
1

Source: Real Estate Outlook, January 2004

2 Builders Association of Greater Indianapolis, 2003
3 Metropolitan Indianapolis Board of Realtors, 2003
4 Indianapolis Convention & Visitor’s Bureau
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