I was wondering how to figure out what areas are classified as what. I know my own local area but that is about it. I am looking into nwi (northwest indiana) and I know some areas but not others. I also feel like certain neighborhoods are drastically different depending on the city/town. I feel as if i can see how much the average person makes, the crime, housing prices and schools, then I can really tell. I know without boots on the ground I can only know so much but that is alot of time to waste if i view every property I come across. Thank you guys :D
@Richard Moro why would you want to invest where you don't have boots on the ground? i believe the best deals go to the investors who know the market the best. Why not invest within an easy drive from where you are?
If I was going to invest out of my area I would want to know about the projected area growth more than anything else. Low crime in a city that is shrinking is probably not going to help much. High per capita income might be counterproductive for long term rentals.
I just use the maps on Trulia...or is it Zillow? I usually work from both when analyzing, but one of them, I think Trulia, has crime maps and lists grades for schools and such...actually, I think both list school grades. Anyway, real estate websites are where I get my info. :-) I refuse to buy in even moderate crime areas, myself.
Nw Indiana is a suburb of Chicago, IL, as is Orland Park.
I really like the graphs and other data for zip codes and cities on city-data.com. You can play with the interactive graphs to examine all sorts of demographic changes, and "Lexis Nexis Crime Map" works great for my area for examining crime statistics. However, my final test is always just parking nearby and getting out of my car and wandering around on foot, and trying to engage neighbors. If I dont even want to get out of my car, I dont buy.