Indianapolis is a diverse city with some areas that are desirable and other neighborhoods that have less appeal. In the areas that are considered desirable, the property prices are high as they are pushed up due to the demand to live there. This leads to a situation where only the richest people can afford to live in those neighborhoods due to the high cost of buying or renting property. If you are interested in learning more about the different neighborhoods in this city, here are the 10 richest neighborhoods in Indianapolis.
In the tenth position on the list of the richest neighborhoods in Indianapolis is Fishers, where the median home price is $317,000. Fishers has a sparse suburban feel, and it is home to more than 90,000 residents. Residents benefit from plenty of activities to enjoy, including parks, coffee shops, and restaurants. The area attracts families due to the highly-rated schools, and it also appeals to those who work in the city but do not want to live in a central location.
9. Saint John
Saint John is an Indianapolis suburb where the average house costs $343,000. Compared to property prices across the United States, this may seem very reasonable and affordable. However, the figure is significantly higher than the Indiana average, as properties in this state are some of the cheapest in the country. There are more than 17,000 people living in this suburb, and it is easy to see what attracts them to the area. Saint John has a rural feel with various outdoor spaces to explore. There are excellent schools, good local amenities, and attractive houses.
8. Downtown Indianapolis
The Downtown Indianapolis neighborhood is also referred to as Mile Square, and the average property price in this neighborhood is $345,000. According to Rent Café, the cost of renting in this area is also higher than the Indianapolis average, and the median rent price is $1,404 per month. Downtown Indianapolis a good place to live for those who want to live in a central location that is close to all the bars, shops, and restaurants. There are many ongoing revitalization projects in this area that aim to beautify the area.
Allisonville is a neighborhood in Indianapolis with a population of 14,124, and the median home price in this area is $350,000. Niche scores this location positively for every factor the site considers. For example, there are outstanding public schools, good housing options, a diverse community, lots of nightlife, outdoor activities for the residents to enjoy, and employment opportunities in various sectors. It is because this location has so many positive features that it has become such a desirable place to live.
As Westfield is one of the best places to live in Indianapolis, it is unsurprising that it is also one of the most expensive. The median house price for this neighborhood is $351,000, so living in such a desirable area comes at a cost. However, the earnings potential is also high, as the residents are some of the richest in the city. The median household income in Westfield is just over $86,000. There are many positive features to this city, including some of the state’s best performing schools, short commute times, and plenty of amenities.
5. Traders Point
Neighborhood Scout lists Traders Point as one of the richest neighborhoods in Indianapolis, as the median property price in this area is $397,000. Traders Point is home to 7,878 people, and those who live in the area enjoy an excellent standard of living. There are decent schools, lots of parks, good transport links, activities for people of all ages, community diversity, and a wide range of housing options.
Carmel is widely regarded as being one of the best neighborhoods to live in Indiana, says The Crazy Tourist. The area’s desirability has pushed up house prices, and the median home price is now $410,000. The impact of the hike in house prices means that the area now only attracts those with an above-average median household income. Carmel has exceptionally low crime rates, and the public schools in the area are highly rated.
While the average cost of properties in Zionsville is $450,000, many people would consider it a price worth paying to live in such a desirable area. Also, residents in this area can afford it, as they have the state’s seventh-highest median household income at more than $100,000. Zionsville is a suburb in Boons County that is home to 25,000, and it has some of the best performing schools in both the state and in the country. It is also worth noting that Zionsville has some of the lowest crime rates in Indianapolis for both property crime and violent crime, so it is a very safe place to live.
Not only is Castleton one of the richest neighborhoods in Indianapolis, with average house prices at $451,000, but it is also one of the best places to live for families. The schools in the area are excellent, there are many family-oriented activities, it is a walkable area, and there is a diverse and tight-knit community. Castleton is home to Castleton Square, which is Indiana’s largest shopping mall.
1. Meridian Hills
The richest neighborhood in Indianapolis is Meridian Hills, as Realtor says that the median listing price of properties in this area is $515,000. Meridien Hills has lots of greenery and outdoor spaces, which gives it a rural feel. It is ideally located for those who work in the city but do not want to live an urban lifestyle. In addition to having many large detached houses on generous lots, Meridian Hills is such as desirable location because the public schools are above average, the area is family-oriented, the crime rates are low, and there is easy access to amenities.