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Wayne Township is within Marion County and encompasses a diverse range of neighborhoods, businesses, and institutions. It includes not only the town of Speedway but also other neighborhoods and areas that contribute to the overall fabric of the township. Wayne Township is characterized by its mix of urban and suburban landscapes.
Home to the iconic Indianapolis Motor Speedway, Speedway has earned its nickname as the “Racing Capital of the World.” The Indianapolis 500, one of the most prestigious motorsport events globally, takes place at the Indianapolis Motor Speedway annually. This event attracts racing enthusiasts from all over the world and has solidified Speedway’s place in history.
Wayne Township has some factors that make it a higher risk investment area that we discuss below, but a greater risk can bring greater reward. As you saw from the ratio of home values to rents, you have a much higher chance of finding cash flowing properties in Wayne than other areas of Indianapolis. If you’re lucky, you could find a great long-term tenant.
With a growing population of 143,711, Wayne is one of the more racially diverse townships with 55.4% of the population being Caucasian, 22.8% being African-American, and 16.7% identifying as Hispanic according to Statistical Atlas.
The median age is 32.8 but the majority of people who live here are under the age of 20, with the next largest percentage being individuals in their 20s. A very young crowd overall!
Niche reports median home values of $94,000 compared to the national average of $184,000. Median rent rates within Wayne township are a quite a bit closer to the national average of $949 at $800 . However, it is important to take into account how different areas can be very different than the average due to Wayne Township’s Diverse area.
The median household income is $38,864, which is on the lower end of the spectrum for central Indiana and the national average.
According to Best Places, on a scale of 1 (low crime) to 100 (high crime), Wayne Township is ranked a 44.4 for violent crime and a 78.1 for property crime.
According to Niche, Wayne Township schools are overall graded a B, with a C+ for academics.
T&H Realty is working with Owner Clients to add Wayne Township rental properties to their portfolios. If you are interested in finding properties in that area, our brokerage would be more than happy to help you purchase a property.
T&H Realty Services is a full-service, residential Property Management company located in Indianapolis, IN.
