The Indianapolis-Carmel metro area’s population jumped 15.2 percent between 2000 and 2010, to nearly 1.8 million people, according to the U.S. Census Bureau. By comparison, the U.S. population as a whole rose 9.7 percent in the last decade “If you’re looking at market trends on a positive side, certainly a growing population is hard to argue with. It will funnel through the first-time-homebuyer segment of the economy or push rental rates up,” said RealtyTrac’s Rick Sharga. SmartZip, which contributed population, job growth, home-price appreciation and ROI projections data to this report, predicts the metro area’s population will rise 8.6 percent over the next 10 years, somewhat higher than average. Indianapolis-Carmel had the lowest sales price of the chosen markets in fourth-quarter 2010, at $106,000, and the highest affordability, with 93.5 percent of homes affordable for households making the median income. Indianapolis-Carmel has been the most affordable housing market in the nation almost continuously for the past five years, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, a national affordability index. “(We) have determined the main things favorable to investors are cash flow and price-appreciation potential. A $100,000 investment will yield a newer, single-family home that rents for approximately $1,200 a month. This can’t be found anywhere else in the nation,” said Craig Bartels, broker-owner at Crager-Bartels Real Estate in Indianapolis. According to HotPads, Indiana’s median rental price rose 6 percent between April 2010 and April 2011. Indianapolis, the nation’s 13th largest city and capital of Indiana, has undergone a dramatic revitalization and a stunning renaissance, making it a completely different city than it was just a decade ago. Long known for manufacturing excellence and a dedicated and highly skilled workforce, the city has experienced unprecedented growth and diversification. Indianapolis consistently ranks high on the list of most affordable cities in the U.S. In fact, the city ranked third in Forbes 2008 list of “America’s Best Bang for the Buck Cities.” Indianapolis Due Diligence Package (PDF).