Through the connections I have built inside of the real estate market, I have been lucky enough to travel to several different markets in the US. From out west to down south, the east coast to the gulf coast, I’ve been able to view a lot of different “hot” markets. I’ve seen investors give numbers and graphs, and send me all kinds of info to show me their area’s positives, but yet I am still happier than ever in what some people call the Armpit of America, Northwest Indiana. Located just outside of Chicago, we are the forgotten suburbs of the city. And yet, even through all of that, I am still perfectly content investing here, and I actively encourage others to come here, as well! Let me tell you why....
Northwest Indiana, affectionately called NWI by the people here, is one of the best markets in America, but not for the conventional reasons. We are located just across the state line from Chicago, and NWI makes up a good part of Chicagoland’s population of 9.8 million people.
Due to the large population pool we pull from, there is never a lack of renters. On top of that, the properties on the Indiana side of the state line have cheaper taxes, similar rents, landlord-friendly laws, and lower costs. It’s an investor’s dream!
Looking at NWI vs the country, we have one of the lowest That’s a Price-to-Rent Ratios in the country. Nationally, the average value of a house that will gross $1,000 worth of rent each month is $230,000. In NWI, that price is less than half of that, around $110,000.
(National Stats sourced from www.smartasset.com)
Despite all of this, Northwest Indiana is a relatively boring market. We do not experience drastic price swings, drastic cuts, and sudden surges. We fluctuate very slowly compared to many markets in America. In 2008, it was reported that the average home price dropped 18% from the peak in 2006. In Lake County, NWI’s largest county, we dropped just 6%. It’s boring, but in a good way!
In short, I have found NWI to be one of the safest areas in which to invest! What areas do you like, and why?
