As the auto industry has revived, so has the local economy. The city also has benefited from having diverse industries: Pharmaceutical makers (Eli Lilly), financial services firms (Conseco), the state government, and communications companies (Brightpoint) are all major employers. And the job market is improving: Unemployment fell in September to 6.4%, 1.5 percentage points below the national rate of 7.9%.
That’s great news for job seekers, but home buyers may not be quite as happy. A few years ago, Indianapolis regularly led the affordability index; it’s since slipped a couple notches. Still, Indianapolis is the largest metro area of the 10 most affordable cities.
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