T&H Realty Services Blog

We’re nearing the end of our deep dive into the 9 Marion County Townships in Indianapolis.

The smallest in both geographic size and population, Decatur Township, is located in the southwest corner of the county. 

In the 1820s, it was predominantly settled by Quakers from South Carolina. 

For its small size and rural feel, Decatur has a pretty big claim to fame. It’s the site of the Indianapolis International Airport. 

AmeriPlex, one of the largest industrial parks in the state, is also located there. 

As of 2017, the population consisted of 34,297 people with a median age of 32.8 according to the Census Bureau.

86.2% of the population is Caucasian and the median household income is $54,005.

According to Niche, the median home value is $110,900 (compared to the national average of $184,700) and the median monthly rent is $845 (compared to the national average of $949).

Located smack dab in the “center” of Indianapolis, lies Center Township. 

Center Township includes Downtown and part of Beech Grove and is the most populated Township in Marion County, with 3,511 people per square mile according to Town Charts. 

The boundaries are the South side 38th street, the East side of Belmont Avenue, the West side of Emerson Avenue, and the North side of Troy Avenue.

As of 2016, there were 147,110 people residing here. The median household income is just $27,718 as reported by Best Places. 

The median age is 33.8 with a racial makeup of 57.5% Caucasian, 34.8% African-American, and 7.4% comprised of various other ethnicities. 

According to Niche, The median home value is $74,600 and the median market rent is $825.

59% of the population rent versus 41% who own their home. 

Center Township is very unique in the fact that it covers a broad spectrum. Some of the best real estate in Indiana is located here, but so is some of the worst.

Example: The most expensive single family residence to ever sell in our local MLS system ($4.8M in 2016) is located in Center Township. By contrast, some of the cheapest real estate - we're talking less than $1,000 cheap - has also been sold in Center Township. 

As you might have guessed, some of the oldest real estate in Indiana still exists in Center Township. However, several years ago, a building resurgence occurred and continues today, particularly in the outlying neighborhoods outside of the immediate downtown area.  

This mass gentrification has made some sections of Center Township very desirable for young people, families and, more recently, retirees who are looking to downsize and crave walkability. 

We’re more than halfway through the 9 Marion County Townships!

Located in the west central portion of the county, Wayne Township is next up in our series. 

Living in Wayne Township offers residents a suburban feel and most rent their homes. 

It's also home to the world renowned Indianapolis Motor Speedway which packs over 600,000 people in every year for the Indy 500!

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 and median rents at $800 compared to the national average of $949. 

The median household income is $38,864, which is one of the lowest that we have discussed thus far.

Organized in the 1820s, Franklin Township is another one of the 9 Marion County townships. 

Located in the southeast corner, it was one of the last areas in Marion County to see heavy suburban land development. 

Despite efforts to maintain a rural atmosphere, Franklin Township has seen a population explosion in recent years. 

As of 2016, the population in Franklin Township was 56,462. According to Niche, the current median household income is $71,706. 

With an unemployment rate of 3.5% and projected future job growth of 37.5%, Franklin Township has a fairly strong local economy. 

Of the 1,293 homes that were sold on the MLS in Franklin Township in the past year, the median sale price was $180,000. Of the 293 homes that were leased in the last year, the median rental amount was $1,295. 

According to Niche, 75% of the population owns their homes versus 25% who rent. 

You've recognized the incredible value in rental properties, but how do you find them? Where should you look?

These questions are deceptively simple, only brushing the surface of a subject that's a little more complicated than it first appears.

Yes, you can find a variety of rental properties with a Google search, but finding an attractive property at an affordable price isn't nearly as easy.

You'll need to use all your available resources, taking advantage of many different strategies.

With that in mind, we'll walk you through six ways to find new rental properties for sale.

Moving on down to the south central part of Marion County, we have Perry Township. 

Settled in 1822, it was named after Oliver Hazard Perry, a hero from the War of 1812. 

According to Census Reporter, the population was 114,519 as of 2017 with a median age of 35.9.

There’s a very even split between males and females, but an overwhelming 77% of the population is Caucasian. 

The median household income is $49,693 and 17% of the population lives below the poverty line compared to the entire state which is 13.5%.

Census Reporter also states that 93% of housing units are occupied in Perry Township and 59% of housing units are owner occupied. 

According to MLS data, of the 1,579 homes that were sold in the last year, the median sales price was $154,000. 

Of the 208 homes that were leased, the median rental amount was $1,195.

Perry Township is also home to the University of Indianapolis.