Introduction

Investing in rental properties can be a lucrative venture, but the success of such investments often hinges on choosing the right property in the right location. A good rental property combines several key factors: affordability, potential for appreciation, rental demand, and proximity to essential amenities and attractions. Johnson County, IN, offers a variety of neighborhoods that can cater to different investor needs. Understanding what makes each area unique and desirable is crucial in making an informed decision.

Best Neighborhoods and Areas in Johnson County, IN

1. Greenwood

Grades:

• Convenience: A
• Tourist Attractions: B
• Things to Do: A
• Avg Home Prices: B
• Return on Investment: A
• Proximity to Work-Related Travel: A
• X-Factor: A

Greenwood is a thriving suburb of Indianapolis, known for its excellent amenities and vibrant community life.

Convenience: Greenwood offers a range of shopping centers, restaurants, and healthcare facilities, making it a highly convenient area for residents. The Greenwood Park Mall is a major shopping destination, and there are numerous grocery stores and local shops.

Tourist Attractions: While not a major tourist hub, Greenwood has several parks and recreational facilities, such as Craig Park and Freedom Springs Aquatic Park, that attract visitors.

Things to Do: The area boasts numerous recreational activities, including golf courses, hiking trails, and community events. The Greenwood Community Center and City Center Park provide spaces for various activities and gatherings.

Avg Home Prices: Home prices in Greenwood are moderate, offering good value for investors. The average home price is around $250,000, making it affordable for both buyers and renters.

Return on Investment: Greenwood’s real estate market has shown consistent growth, with rental properties yielding strong returns. The demand for rental homes is high due to the area's amenities and proximity to Indianapolis.

Proximity to Work-Related Travel: Greenwood is ideally situated for professionals, with easy access to major highways like I-65, making it convenient for commuting to Indianapolis and surrounding areas. It's also close to several hospitals and corporate offices.

X-Factor: The blend of suburban comfort with urban accessibility makes Greenwood unique. Its strong community focus and family-friendly environment are highly appealing to renters.

2. Franklin

Grades:

• Convenience: B
• Tourist Attractions: A
• Things to Do: B
• Avg Home Prices: A
• Return on Investment: B
• Proximity to Work-Related Travel: B
• X-Factor: A

Franklin, the county seat of Johnson County, combines historic charm with modern amenities, offering a unique investment landscape.

Convenience: Franklin provides essential amenities like shopping centers, schools, and medical facilities, though it’s less commercialized compared to Greenwood.

Tourist Attractions: Franklin's historic downtown area, with its quaint shops, cafes, and the Artcraft Theatre, is a significant draw for tourists. The city also hosts various festivals and events throughout the year.

Things to Do: Residents can enjoy numerous parks, such as Province Park, and recreational activities, including the Franklin Greenway Trail. The Franklin Family Aquatic Center is also a popular spot during the summer.

Avg Home Prices: Franklin offers some of the most affordable housing in Johnson County, with average home prices around $200,000, making it attractive for investors seeking lower entry costs.

Return on Investment: The return on investment in Franklin can be promising, particularly in the historic downtown area, where rental properties are in demand. The lower property prices allow for higher rental yield percentages.

Proximity to Work-Related Travel: Franklin is reasonably accessible for commuters, with State Road 44 and US 31 providing routes to Indianapolis and other employment hubs. However, it is slightly farther from major corporate offices compared to Greenwood.

X-Factor: Franklin’s historic charm and community spirit set it apart. The preservation of historic buildings and the vibrant downtown scene make it a desirable place to live and visit.

3. Bargersville

Grades:

• Convenience: B
• Tourist Attractions: C
• Things to Do: B
• Avg Home Prices: B
• Return on Investment: B
• Proximity to Work-Related Travel: B
• X-Factor: B

Bargersville is a small town with a growing real estate market, offering a quieter lifestyle with potential for investment growth.

Convenience: Bargersville has basic amenities such as grocery stores, local shops, and schools, but it lacks the extensive commercial options of Greenwood.

Tourist Attractions: Tourist attractions in Bargersville are limited, though Mallow Run Winery is a popular destination for wine enthusiasts and hosts events and concerts.

Things to Do: Residents enjoy local parks, trails, and community events. The small-town feel provides a peaceful living environment with recreational opportunities.

Avg Home Prices: Home prices in Bargersville are relatively affordable, averaging around $230,000, making it accessible for new investors.

Return on Investment: The return on investment can be solid due to the town’s steady growth and development. The area is becoming more attractive to families and individuals seeking a quieter lifestyle close to urban centers.

Proximity to Work-Related Travel: Bargersville is located near State Road 135, providing access to Indianapolis and other employment areas. However, it is farther from major business hubs compared to Greenwood and Franklin.

X-Factor: The town’s rural charm and the presence of Mallow Run Winery add a unique touch to Bargersville. It’s an appealing option for those seeking a serene environment with growth potential.

4. Whiteland

Grades:

• Convenience: B
• Tourist Attractions: C
• Things to Do: B
• Avg Home Prices: B
• Return on Investment: B
• Proximity to Work-Related Travel: B
• X-Factor: B

Whiteland offers a small-town atmosphere with convenient access to larger cities, making it an attractive option for rental property investors.

Convenience: Whiteland provides essential services and amenities, including schools, local shops, and parks. However, it lacks the extensive commercial options found in larger towns like Greenwood.

Tourist Attractions: The town doesn’t have major tourist attractions, but its proximity to Greenwood and Franklin allows residents to access attractions in those areas easily.

Things to Do: Whiteland offers parks and community events, providing recreational options for residents. Its small-town feel fosters a tight-knit community atmosphere.

Avg Home Prices: Home prices in Whiteland are moderate, averaging around $220,000. This affordability makes it a viable option for investors looking for reasonable entry costs.

Return on Investment: The return on investment can be favorable due to the town’s affordability and steady demand for rental properties. Its growth potential adds to the appeal for investors.

Proximity to Work-Related Travel: Whiteland is conveniently located near I-65, providing easy access to Indianapolis and other employment centers. This makes it suitable for commuters.

X-Factor: Whiteland’s appeal lies in its blend of rural tranquility and accessibility to urban amenities. The community-focused environment and affordable living make it a desirable location for renters.

Conclusion

Johnson County, IN, offers a diverse range of neighborhoods, each with unique characteristics and investment potential. From the vibrant, amenity-rich Greenwood to the historic charm of Franklin, investors can find areas that match their investment goals and strategies. Understanding the strengths and opportunities of each neighborhood is crucial in unlocking the full investment potential in rental properties in Johnson County.