Welcome to Indiana

Your life in the Hoosier State begins

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Indiana Self-StorageReasons to Move to IndianaMoving to IndianaEconomic OutlookPlaces to LiveResources

Welcome to Indiana

Indiana is synonymous with both “the heartland” and the world’s oldest annual automobile race–the Indianapolis 500. This midwestern state spans 36,418 miles of mostly flat plains in the north and central parts of the state, with a vastly different hill and forest country to the south.

The state is nicknamed the “Hoosier State” for reasons that are not entirely clear. Possible origins include Hoosier being an old pioneer greeting, or last name of a man who hired Indiana residents to work on the Ohio Falls canal in the 1820s. The origins of the state’s official motto, “The Crossroads of America” are much more clear. Several major interstate highways that connect to the rest of the United States meet in the Hoosier State. However you choose to refer to Indiana, it’s a state that embodies Americana. And actually, Hoosier isn't just a nickname anymore. Since 2016, it is the official demonym for a resident of Indiana, according to the U.S. General Publishing Office.

Indiana Self-Storage Facts

Self-storage development has been taking off across the country as more investors are looking to bet on self-storage. More facilities are being built to meet demand, which is generated by things like people moving, small businesses, or retirees downsizing their belongings. Until a few years ago, self-storage development was at a standstill. Many storage spaces had waiting lists as the industry achieved record levels of occupancy. As a result of the lack of supply they were able to raise rates. Attracted to the high yields generated by storage facilities operating in this environment, developers and operators set out to expand their operations. At the same time more funding sources have become available to them as the broader economy expands. That has ueled the latest trend in self-storage development that is sweeping the nation. Indiana is no exception as it continues to grow its population at a steady clip.

Below is an overview of the current state of the Indiana self-storage market:

Below are some statistics that provide an overview of the self-storage industry in Indiana:

1,144

Indiana is home to about 1,144 self-storage facilities.

35,148,061

Indiana self-storage facilities cover 35,148,061 square feet of storage space.

5.35

Indiana storage facilities offer 5.35 square feet of storage per person, which is close to the national average of 5.4 square feet per person.

Reasons to Move to Indiana

If you're thinking about making the move, but aren't sure if Indiana is the right place for you, consider the following:

1

Indiana loves sports. There is an affinity between rural America and sports, especially football, and this extends to even the big cities in Indiana. College football and basketball are popular all over the state, as are the Indianapolis Colts and Indiana Pacers.

2

500 laps = 200 miles. But in Indiana, the sport of automobile racing may be king. The Indianapolis 500 is one of the big three global auto races, the others being the Le Mans and the Monaco Grand Prix. The first race started in 1911, and continues on in Speedway, Indiana each May.

3

Limestone is the state’s bedrock. The country’s highest quality limestone, known as Salem limestone, is found in Indiana’s “Stone Belt” in the south-central region of the state. The limestone industry began in 1827, and the stone’s beauty can be seen all over the country, including on the exterior cladding of the Empire State Building in New York City.

4

Indiana’s stunning Dunes area on Lake Michigan. Some may be unfamiliar with America’s northern coast, found at the Great Lakes. Indiana Dune National Park offers sandy beaches, trails, forests, and views of the Chicago skyline in the distance.

5

Farming is a pretty big deal. There is a reason so many trucks and other vehicles pass through the Crossroads of America — the corn, grain, dairy, and other produced in America’s breadbasket. There are an estimated 94,000 farmers in Indiana, cultivating over 15 million acres of farmland each year.

6

All that farming means good eats. Like many destinations in the United States, Indiana has some of its own unique culinary dishes. The most “Hoosier” dish of them all, however is the pork tenderloin sandwich — or “Hoosier sandwich” — that involves a crispy pounded pork cutlet bigger than your plate between a burger bun.

7

Indiana is an educational crossroads, too. The state is home to such renowned colleges and universities as Ball State University, Purdue, University of Notre Dame, and over sixty other institutions.

8

Deep roots of industry and manufacturing. Like other Midwest states, the heartland of Indiana also a connection to manufacturing. Indiana industry, however, steers toward advanced manufacturing, such as the design, testing and production work in Indianapolis’s Eli Lilly and Co.

9

A defense industry hub. Skilled advanced manufacturing also plays a role in the state’s history as a center of the defense industry. Indiana is home to employers that manufacture satellite components, military vehicles, aircraft electronic controls, and more.

10

Presidential history. Indiana is famous for being where President Lincoln was raised, but it was also home to Benjamin Harrison. And, we’ve had six Hoosier Vice Presidents, from Schuyler Colfax in 1869 to Mike Pence in 2019.

Moving to Indiana

As the Crossroads of America, full of educational opportunities, history, and natural beauties, Indiana is today witnessing population growth. With almost 6.7 million residents, Indiana is the 17th most populous state in the country. Indiana has seen consistent population growth. The population growth rate is .33%, which is 29th in the nation. This is modest when compared with southern or western states, but it outpaces much of the rest of the midwest.

Most of this growth is in the suburban area surrounding the state’s two largest cities: Indianapolis and Fort Wayne.

Indiana Economic Outlook

Indiana’s gross domestic product (GDP) is roughly $368 billion, making it the 19th largest state economy in the nation. This figure represents a steady increase over the past decade, consistent with the sustained growth experienced in most of the country. Indiana employment numbers are on the rise, too, with its payroll growth ranking 13th in the country.

Growth in Indiana is likely related to the state’s ranking as the 10th most favorable in the country on the Tax Foundation’s State Business Tax Climate Index. When compared to its Midwest neighbors, Indiana shines as a location for sustained business activity.

Indiana’s employment opportunities span manufacturing, education, health care, and more. Of course, like many other states in the country, manufacturing in Indiana has slowed over the years as businesses have become more globalized, especially in the low to mid-skilled factories. But the Hoosier state still leads the country in manufacturing employment. The focus, however, is not on low skill manufacturing, but on product creation and research and development. For those looking to move to the Hoosier State, it means innovation is alive and well today and in the future.

Who are Indiana's Largest Employers?

EMPLOYER
NUMBER OF EMPLOYEES
Cummins
55,400
Anthem
53,000
Eli Lilly and Company
41,975
Indiana University
30,000
Purdue University
20,250
Zimmer Biomet
18,500

Places to live in Indiana

If you look at a map of Indiana, you’ll see that the roughly triangle shaped state runs from the southern shore of Lake Michigan in the north, to the meeting of Illinois and Kentucky to the south. The major population centers also follow this vertical path, with Fort Wayne in the north, Indianapolis at the state’s center, and Evansville in the south.

Here’s a quick look at the state’s three largest cities:

Indianapolis

The economic, cultural, and educational center of Indiana is also its geographic center. Indianapolis, the state capital, has a population of 872,680. It is the 17th most populous city in the United States, and also boasts 2 million residents in the greater Indianapolis metropolitan area. Employers in the city include University of Indiana Health, Eli Lilly and Company, and Community Health.

Cost of living
8 percent lower than the national average
Median home price
$174,000
Average rent
$878/month
Average apartment size
880 square feet

Fort Wayne

In the state’s northeast, Fort Wayne is a city with a history that stretches back to the end of the 18th century. Established as a U.S. Army fort, today Fort Wayne is home to 267,633 residents. As a northeastern city, it is part of the rust belt, with major employers including General Motors and Parkview Health Systems.

Cost of living
12 percent lower than the national average
Median home price
$169,000
Average rent
$783/month
Average apartment size
885 square feet

Evansville

The next largest city in Indiana is Evansville, located in the southern portion of the state, with 119,000 residents. Big employers in Evansville include Toyota Motors, Deaconess Health Systems, Whirlpool Corp, Mead Johnson, and the University of Southern Indiana.

Cost of living
11 percent lower than the national average
Median home price
$139,000
Average rent
$829/month
Average apartment size
900 square feet.

Moving to Indiana Resources

All Indiana Cities