9 Most Affordable Indianapolis Suburbs to Live In
Indianapolis, IN, home to the Indy 500, the Indianapolis Zoo, and Monument Circle, is an iconic Midwestern city. With everything that Indianapolis has to offer, it’s not a shock that roughly 895,000 people live in the city. And if you’re considering living in Indianapolis, there are three things you should know – the housing market is very competitive, the median home sale price is $246,125, and the average rent price of a 2-bedroom apartment in Indianapolis is $1,207.
Don’t worry if those prices don’t fit in your budget – we’ve got options to help you find a home that does. We’ve compiled a list of the 9 best affordable Indianapolis suburbs to consider living in. And they’re all less than 45 minutes away from the city, so you’ll still be close enough to Indianapolis to explore the city without the price of living there.
#1: Chesterfield
Median home price: $110,000
Driving distance from Indianapolis: 45 minutes
Chesterfield, IN homes for sale
Chesterfield, IN apartments for rent
With a median home sale price nearly $140K less than Indianapolis, Chesterfield claims the first spot on our list of affordable Indianapolis suburbs. About 45 minutes away from downtown Indianapolis, Chesterfield is home to roughly 2,500 residents. Living in Chesterfield, you can spend time exploring Wallbridge Acres Park.
#2: Anderson
Median home price: $129,950
Driving distance from Indianapolis: 40 minutes
Anderson, IN homes for sale
Anderson, IN apartments for rent
Taking the second spot on our list is Anderson. About 40 minutes away from downtown Indianapolis, you’ll be checking out the Children’s Museum of Indianapolis in no time. Home to Shadyside Memorial Park Chinese Gardens and Mounds State Park, there are plenty of outdoor activities to enjoy in Anderson. When living in this suburb of 55,000 people, you can also spend the day checking out the Anderson Museum of Art.
#3: Edinburgh
Median home price: $167,500
Driving distance from Indianapolis: 35 minutes
Edinburgh, IN homes for sale
Edinburgh, IN apartments for rent
Drive just 35 minutes away from Indianapolis and you’ll reach Edinburgh, another great suburb to consider moving to. From parks and outdoor recreation to supporting local businesses, there are lots of things that make Edinburgh a great place to live. If you find yourself moving here, make sure to play a round of golf at Timbergate Golf Course.
#4: Shelbyville
Median home price: $170,000
Driving distance from Indianapolis: 30 minutes
Shelbyville, IN homes for sale
Shelbyville, IN apartments for rent
A little more expensive than Edinburgh is the suburb of Shelbyville. With roughly 20,000 residents in this Indianapolis suburb, make sure to stop by the Blue River Memorial Park for an afternoon in the sun. Don’t miss checking out the Horseshoe Indianapolis Racecourse to watch the horse races.
#5: Beech Grove
Median home price: $180,000
Driving distance from Indianapolis: 15 minutes
Beech Grove, IN homes for sale
Beech Grove, IN apartments for rent
15 minutes away from downtown Indianapolis is Beech Grove, another great suburb to consider moving to. Home to 15,000 residents, this affordable town can be a great choice for people looking to remain close to Indianapolis without paying the price for a home in the city. Living in Beech Grove, you’ll find Don Challis Park and the Hornet Park Community Center.
#6: Edgewood
Median home price: $202,500
Driving distance from Indianapolis: 40 minutes
Edgewood, IN homes for sale
Edgewood, IN apartments for rent
Another well-known Indianapolis suburb is Edgewood, where you’ll find the home prices are about $40K less than in Indianapolis. Home to roughly 1,800 people, Edgewood is a great suburb to consider living in. There are lots of activities to do in this suburb like checking out one of the quaint parks, among many other local favorites.
#7: Lebanon
Median home price: $226,000
Driving distance from Indianapolis: 30 minutes
Lebanon, IN homes for sale
Lebanon, IN apartments for rent
Claiming the seventh spot on our list of affordable Indianapolis suburbs is Lebanon, which is only 30 minutes away from the city center. With a population of close to 16,000, Lebanon is a great area to live in that’s not nearly as big as Indianapolis. If you’re going to call this suburb home, plan time to explore Seashore Waterpark and Abner Longley Park.
#8: Cumberland
Median home price: $228,000
Driving distance from Indianapolis: 25 minutes
Cumberland, IN homes for sale
Cumberland, IN apartments for rent
Moving to Cumberland will give you access to downtown Indianapolis in close to 25 minutes – as long as you don’t find yourself in traffic. Close to 6,000 people live in this suburb, but you’ll find lots of outdoor activities in Cumberland. Make sure to stop by Lions Park for a picnic or grab some food at one of the local restaurants.
#9: New Whiteland
Median home price: $235,000
Driving distance from Indianapolis: 25 minutes
New Whiteland, IN homes for sale
New Whiteland, IN apartments for rent
Living in Indianapolis, it’s likely that you’ve heard of New Whiteland, the ninth and final suburb on our list. About 89,000 residents call this affordable suburb home, so you’ll have a fraction of Indianapolis’s population while remaining close to the city and its attractions. Once moving to New Whiteland add Rascal’s Fun Zone amusement park and Proctor Park to your list of places to visit.
Methodology:
Affordability is based on whether a suburb is less than the median sale price of Indianapolis and under a 45-minute drive from downtown Indianapolis. Median home sale price data from the Redfin Data Center during April 2022. Average rental data from Rent.com May 2022. Population data sourced from United States Census Bureau.
The post 9 Most Affordable Indianapolis Suburbs to Live In appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.