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Where to Invest in Indianapolis: Plainfield

Dec 15, 2019 10:00:00 AM

Located in the southeastern portion of Hendricks County, Plainfield, Indiana sits, home to around 34,386 people.

Originally settled by Quakers, the city got it's name due to the "plain" nature of the people. Plainfield Outline

The local economy runs off of warehouse type industries with Plainfield supplying approximately 50% of ALL warehouse jobs in Central Indiana. 

With it's close proximity to the Indianapolis International Airport, the hotel industry is also very popular.

The median age is 37.7 years old with a median household income of $62,121.

The majority of residents (69%) own their homes as opposed to renting. 

The median property value is $155,100 and the median rental amount is $990.

Niche has given Plainfield the following rankings:

  • #8 of 115 for suburbs with the best public schools
  • #16 of 115 for best suburbs for young professionals

Plainfield Report

Plainfield, Indiana Zip Codes

  • 46168
  • 46197
  • 46231

Plainfield, Indiana Neighborhoods

  • Avalon Estates
  • Claymont
  • Glen Haven
  • Walnut Hill
  • Center Ridge
  • Woodland Estates
  • Brookshire
  • Augusta Woods

Examples of Homes T&H Manages in Plainfield, Indiana

This 3 bed, 2 bath, 1654 sq. ft. home is currently leased for $1,100.00/month.

Sales comps for this property range in the $210,000-$240,000 range. So as you can see, those numbers don't quite work from a cash flow perspective. 

However, long-term, this property should continue to hold and increase it's value.

oak hill

 

Plainfield, Indiana Schools

According to Niche, Plainfield schools are ranked and A+ with category breakdowns as follows:

  • Academics: A
  • Teachers: A+
  • Clubs and Activities: A
  • Diversity: B-
  • College Prep: A
  • Health and Safety: A

There are 5,256 students between PK and 12th grade, with a student-teacher ratio of 19:1.

It's ranked 5th out of 290 for districts with the best teachers, 7th best school district in the state, and 25th for safest school district in the state. 

Plainfield, Indiana Crime Rates

On a scale of 1 (low crime) to 100 (high crime), Plainfield is ranked a 17.4 for violent crime and 42.3 for property crime. 

The national average for violent crime is 22.7 and 35.4 for property crimes.

This information was gathered from BestPlaces.net

Conclusion

Similar to Avon, Plainfield is a great place to invest in real estate due to the strong local economy, excellent school system, and continued growth. 

However, you're going to pay a premium for those perks. Property values are higher in Plainfield than other rental areas so it's harder to find investments that can produce cash flow. 

If you're looking for long-term appreciation though, Plainfield is a great option. 

While the rental market is strong here, it is also very seasonal. If you're not on a lease cycle that matches up with the school year, you could be looking at some high says on market when trying to lease. 

As with anything, there are pros and cons to purchasing rental properties here. 

Weigh them carefully and you will be able to determine if Plainfield fits your investment strategy.

 

Click here for more info on where  to invest in Indianapolis!

Devon L. Hicks

Written by Devon L. Hicks

As well as being a licensed Realtor, Devon has her Bachelors in Marketing from Missouri State University and utilizes her skills in a variety of ways to educate and advise real estate investors in the Central Indiana region.

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