The List of Most Expensive Cities Makes Indianapolis Among the Most Inexpensive Cities in the United States

Do you know which cities in the United States are among the most expensive? According to a Forbes real estate survey, located here, the most expensive city might not be a surprise. It happens to be New York, followed by Los Angeles.

I have to admit that this made me feel a bit better about Indianapolis, a city I know well, one which doesn't have all the allure or glamour of The Big Apple or some of the famous attractions and great weather of Los Angeles. But compared to the numbers that make those other cities so expensive, Indianapolis really comes out ahead as one of the least expensive cities around, especially when it comes to raising a family, locating decent schools or finding an affordable home.

Best of all, those who move to Indy may find that it isn't the sleepy burg they may presume it will be. Instead, it has many of the attractions of a larger city with a median home price of only $200,000 - and that home price can get you a very nice home! If you're thinking about moving away from one of the most expensive cities around, perhaps Los Angeles or New York, why not sell that house and move to Indianapolis?

Here's how living in Indianapolis will compare to the most expensive cities:

Comparing most expensive cities to Indianapolis: commuting time

The average driver in Los Angeles spends about 72 hours a year driving or stuck at traffic lights or behind other cars. Because Indianapolis has a strong network of interstates around the city, most people don't spend nearly as much time driving (there are exceptions but they are rare). They simply don't have to drive far to get to work. This is borne out by a Forbes study (see sources at end of article)

Most of the people I know spend minutes getting to work and back home again. Many work in offices only minutes away from home. Also, the city is relatively compact when compared to Los Angeles. I've literally driven around the city, using the interstates, in less than an hour. Even driving to and from Bloomington, a city outside of Indianapolis, can take only an hour (from city outskirts to city outskirts). Oh, yes, there is also the fact that gas prices in L.A. tend to make it one of the most expensive cities for to buy gas. Add it all together and Indianapolis comes out as a winner, being among the least expensive cities.

Home prices in the most expensive cities compared to Indianapolis

The median home price in Indianapolis (Hamilton County) is about $200,000. Marin County has an average home price of (gulp) $900,000. Spend that same $900,00 in Indianapolis and you'd get a very nice home, extremely luxurious. Don't believe me? Have a look at the Mibor Indiana real estate website here: www.mibor.com/ Home prices in areas with safe neighborhoods and decent schools can easily be found for $200,000. I know how much one relative spent just to get a very small apartment in New York and it was right around that $200,000 figure for a one bedroom place with not much space. I won't go into the details but it seemed pretty cramped to me. I definitely felt like I was in one of the most expensive cities in America.

In contrast, I found a 3,224 sq foot home at the Mibor site in Indianapolis. It had 3 bedrooms and 2 bathrooms and it was in a neighborhood with a reputation for safety and good schools as well as easy access to shopping centers and other attractions. The house included a nice fireplace, spacious kitchen, basement and workshop area and other major features. including a lovely sun room as well as a deck off another part of the house. All for a reasonable cost, making Indianapolis among the least expensive cities when it came to home prices.

Property taxes can't be ignored. Although Indianapolis has admittedly been the focus of some property tax disputes in the last year (a fact I know all too well, having seen the bills and the adjustments), it is still considered to have property tax rates that are very low compared to the median home prices in the city.

Cost of living in the most expensive cities compared to one of the least expensive cities, Indianapolis

Obviously, high home and gas prices and a long commute add up to the expenses in Los Angeles and other places listed as being among the most expensive cities. Commuting costs are one factor. While Indianapolis comes out ahead for home prices and shorter commuting times to get to work, it is also a bargain for the free or low-cost activities available all year round. The Monon Trail, a long walking and biking path that spans much of the northern and southern parts of the city, is free to all. Many people walk or ride bikes to work using this trail, at least during the spring and summer months (Indianapolis does have winter, complete with snow).

There are also many parks, one of the best children's museums in the country and more. Sidewalks line a fair share of the neighborhoods and grocery bills, while rising along with those in the rest of the country, are still quite reasonable in comparison. Farmer's markets are plentiful and it isn't uncommon to find home-grown vegetables at very low prices, although home gardens are also common.

Most expensive cities compared to Indianapolis: school systems

Using date compiled from a Forbes study, Indianapolis (specifically, Hamilton County) came out ahead in terms of schools. To meet the criteria, the SAT scores had to be higher than 1,050 (math and verbal) and under-funded school districts were also eliminated. The winner? Indianapolis. After school programs, including sports programs, are plentiful and low-cost. From soccer to basketball, baseball and football as well as tons of other sports, the Indianapolis school systems have a wide variety. Most are free or affordable to students. High school graduation rate was also a factor when choosing best school systems.

Most expensive cities compared to Indianapolis: crime rate

Compared to the most expensive cities, Indianapolis has a fairly low crime rate. In fact, crime rates seem to have decreased in many areas over the last 10 years, Our neighborhood has an active crime watch program. We aren't alone. Many neighborhoods in Indianapolis do, along with friendly neighbors. We even have an email alert system as well as automated phone calls from police or the school system if there is any kind of crime alert in our area. All of this adds up to a relatively safe city, although there are dangerous neighborhoods, just as there are in many cities. Overall, though, Indianapolis is a fairly safe city.

Most expensive cities compared to Indianapolis: quality of life

Admittedly, this seems a rather vague term. What does quality of life mean? However, when ranked by families living in various of cities, factors such as drive time, access to major attractions or parks, safety, affordable lifestyle and good schools all seemed to connect to feeling that there was a good quality of life. Indianapolis has The Indianapolis Colts and other major sports features. It also boasts plenty of parks, the Monon walking trail, a large number of both private and public schools, a low cost of living, affordable homes and relatively low crime rates. All of this adds up to a better quality of life than many expensive cities. The Indianapolis Symphony orchestra gives plenty of free or low-cost concerts, both inside or at such outdoor areas as Connor Prairie Farm.

So if you happen to be living in one of the most expensive cities in the world, sell that high-priced home and move to Indianapolis, where you might be able to get twice as much home for the same money - or buy the house of your dreams and put the savings into something else.

Sources
1.Personal experience
2.Home price information and property tax info at Mibor: www.mibor.com/
3.America's Best Places to Raise a Family: Forbes, June 30, 2008:www.forbes.com/home/2008/06/27/schools-places-family-forbeslife-cz_zg_0630realestate.html