At the turn of the 20th century, discovery of natural gas deposits in Trenton Field and oil in nearby Lima-Indiana Field helped to mold Indianapolis into the major social and economic hub it is today. Even after the natural gas deposits were exhausted and oil production was halted, Indianapolis had already undergone a significant land and residential boom. During this prosperous period for the city, many companies relocated to Indianapolis’s central business district.

Indianapolis is the proud home of the 2007 NFL Super Bowl Champion Colts and the NBA’s Indiana Pacers. But it’s the annual Indianapolis 500-mile race, better known as the Indy 500, that draws crowds. The Indianapolis Motor Speedway is the second-oldest car racetrack in the world and has been around for nearly a century. The racetrack also seats more than 400,000 fans, making it the largest sporting event stadium of its kind. In 1987, it became a registered national historic landmark, attracting hundreds of thousands tourists annually.

Thanks in part to a stable increase in Indianapolis home appreciation values, the city continues to grow. With homes starting around $150,000, it doesn’t get more affordable than Noblesville. This northern suburb of the city is conveniently located near Indianapolis’s downtown district. Noblesville features a charming mix of old and new, with rows of Victorian single family homes and contemporary luxury condominiums to choose from. Although older homes in Noblesville are priced below $200,000, custom subdivisions also abound with statelier properties averaging between $600,000 to upwards of $1 million.

Centrally located near downtown is the eclectic neighborhood of Broad Ripple Village. With its local eateries and trendy coffee shops, Broad Ripple is one of the most established neighborhoods in Indianapolis. While cottage-style homes are the norm in this area, more traditional detached single family homes are also available. Broad Ripple Village has become the playground for much of the city’s artsy and wealthy population, but with its unique selection of homes and wide price range, it’s perfect for any family. Take advantage of the affordable prices and begin your Indianapolis real estate search today!

Sources and more information:
http://en.wikipedia.org/wiki/Indianapolis
http://www.census.gov/population/www/
http://www.homegain.com/local_real_estate/IN/indianapolis.html
http://www.nextag.com/home-mortgage/2/IN/Indianapolis.html
http://en.wikipedia.org/wiki/Indianapolis_Motor_Speedway
http://www.discoverbroadripplevillage.com/
http://www.bretbaker.com/custom10.shtml