I'm thinking that could also be driving people out to the western parts of Greene County.

India does not care about western economics.  

Guy- if you are interested in "Build for rent" in Western Kentucky- we are beginning the planning on a 48-60 condo development close to Murray State University in Murray Kentucky.

I am an Investment Consultant for New Western Acquisitions in Austin, TX. 

The hidden costs with new construction grading, mechanical, and foundations can blow that 150/sqft to 250 and up (hard cost) I dont know if you dug through many of the Western States existing modular companies, but I never saw much below 250/sqft with quality finishes (especially for a community like Pasadena would expect).

I have done this a couple times in Western WI where I bring 5% down, seller carries 20% as the second mortgage and bank finances 75%. 

The good: you can buy a $50k house that rents for $600 - $700 (which is, for the most part, better than western Washington on a cap rate or price/rent ratio).

As I am writing this I just thought about another option being Little Italy in Cleveland which is walking distance to University Hospitals and Case Western Reserve University.  

If you are absolutely against buying in Williamsburg, maybe Western Branch or somewhere on the Penninsula closer to the population centers will be worth looking at.

Most are in the western part of Hancock County near McCordsville and New Palestine.