Cheapest Homes in Indiana
The cheapest homes in Indiana compare to some of the cheapest homes in the entire United States of America. You can find basic 2 bedroom, 1 bathroom homes selling for 5-figures. These houses tend to be foreclosed residences or HUD housing, but I've found brand new houses selling for astounding prices in this housing market.
The Cheapest Homes in Indianapolis
Indianapolis is by far the largest city in Indiana, coming in at just under 800,000 people. You'll have lots of housing options if you intend to move to the Indiana state capital, with the full range of prices and neighborhood types you'll find in most major metropolitan areas. The housing market in Indianapolis has gone through many of the same troubles that other major American cities have seen, so you should be able to find quality, cheap housing without moving into the worst neighborhoods.
In East 34th Street in Indianapolis, you can find a home being offered for $34,000. This house is a 3 bed, 1 bath residence with over 1,600 square feet. English Oak Drive has a 3 bed, 2 bath house with 2,100 square feet being offered for $37,500. Each house is a foreclosure and neither has sold as of mid-August 2011.
Also currently listed are three homes with prices in the same range, between $54,900 and $60,000. These homes are found on Scott Court (3 bed, 1 bath), Armstrong Court (3 bed, 1 bath), and Larch Street (4 bed, 3 bath). The house on Larch Street is a particularly interesting option, because it contains a lot of floor space for a house in that price range: 2,275 square feet.
Among the HUD homes on sale in Indianapolis right now, you'll find a 3 bed, 2 bath place on Walker Avenue being sold for $15,000, a 4 bed, 1 bath residence on Wisconsin Street selling for $20,000, and a 3 bedroom residence on West 37th Street with a price tag of just over $29,000. In fact, the number of HUD houses (http://www.hudhouses.com/search/IN_097.html) on the market is so substantial that it's hard to list them all, so I've provided a link. If you qualify for HUD housing, don't forget to check out these government-backed offers.
Cheapest Homes in Fort Wayne
You'll also find some amazing deals in Fort Wayne, the second largest city in Indiana (200,000). Fort Wayne is found in the northeastern part of the state near the borders with Ohio and Michigan, but Fort Wayne is its own metropolitan area--with near access to but set apart from Cleveland and Detroit. On Wall Street in Ft. Wayne, you'll find a 3 bed, 2 bath multi-family house being offered for $14,900. The z-estimate on this house is over $38,000. A single-family foreclosure on Reed Street with 2 bedrooms and 1 bathroom has a price of $8,900, while Buell Drive has a 3 bed, 1.5 bath residence with a price tag of $23,400. A similar foreclosure on Clermont Avenue, with 3 bed and 1 bath, is selling for $22,000 (though the z-estimate is only $19,000, so watch closely).
If you don't want to look at HUD homes, you can still find some cheap housing. A foreclosed home on Werling Drive with 2 bedrooms and 1 bathroom is being offered for $8,300 right now. A 3 bed, 2.5 bath residence on Mueller Road has a price of $34,600, while a 3 bed, 1 bath house on Nuttman Avenue is selling for just $24,000. On 3rd Street, you'll find a basic 2 bed, 1 bath household for $19,500.
Home buyers from other parts of the country might find it amazing when you're looking for residences in the Midwest, but I come across these prices again and again when searching listings for states like Indiana, Illinois, and Iowa. The housing market is just much different in Indiana than it is in California or Texas. That's what happens when the whole world isn't trying to move to your state.
Cheap Housing in Evansville
Evansville is in the southwestern part of Indiana, along the Ohio River. Evansville has a population over 120,000 people, making it the third largest municipality in Indiana.
North Weinbach Avenus has a 4 bed, 2 bath house selling for $24,000. Maxwell Avenue has a 3 bed, 1 bath home with a price of $24,900. Even more surprising, North 3rd Avenue has a whopping 5 bed, 1 bath residence selling for $22,700. All houses are foreclosures, but you can get yourself in an Evansville home for the price of buying a car.
Affordable Houses in South Bend
South Bend is in the northern reaches of the state, found near Lake Michigan. South Bend is the 4th-largest city in Indiana, but it's made famous because South Bend is the home of Notre Dame University. Notre Dame is the quintessential Catholic university, located in St. Joseph County, and boasting the vaunted Fighting Irish football squad that gives the school its nickname "Football University". Many residents in South Bend work at or attend Notre Dame University, so you'll get the ambiance of living in one of America's premier college towns.
You can find a 2 bed, 2 bath house on Huey Street selling for $6,900 and a 3 bed, 1 bath residence on West Bulla Street selling for $12,700. The first house has less than 1,000 square feet of floor space, so be prepared to be surprised at the daintiness of the accommodations. I also found a 2 bed, 1 bath house on Burbank Avenue with a little under 1,000 square feet selling for $29,000, but this house looks to be in much better condition.
Cheapest Houses in Gary and Hammond
Gary, Indiana and Hammond, Indiana are in the far northwestern part of the state. Gary and Hammond are each suburbs of Chicago, which is just found across the state border into Illinois. Both Hammond and Gary are in Lake County, on the banks of Lake Michigan. Before you move to these cities, understand that some of the neighborhoods inside these municipalities are rough. I've seen Gary make lists of the Top 25 violent crime rates in America. That doesn't mean every neighborhood is violent, but you want to do your research before you put yourself in one of these homes.
One house on Stevenson Street in Gary is being offered for a little over $12,000. This house has 3 bedrooms and 1 bathroom. Another 3 bedroom, 1 bathroom house, this one on South Warrick Street, is selling for $25,000. I also found a $25,000 price tag on a 2 bed, 1 bath residence on Molesberger in Hammond, Indiana. All three of these houses appear to be in nice surroundings, so take a look if these sound like they might be good for your housing situations.