Housing Need
The following data shows the need for HAND’s work to provide affordable housing options in Hamilton County. The 2008 Hamilton County Housing Needs Assessment found that:
- Nearly 20,000 households in Hamilton County experience housing cost burdens, those who pay more than 30% of their income for housing.
- More than 2,000 home foreclosures in 2007 and 2008.
- There is a growing shortage of affordable rental housing, especially for very low income households.
- A growing senior population that is estimated to nearly double by 2020 to almost 40,000. Elderly people on fixed incomes often require subsidized housing, assisted living facilities, or in-home services.
- Nearly 10,000 people living in poverty. The 2009 Poverty Guideline for a four person household, as determined by the US Department of Health and Human Services, is $22,050. The 2009 poverty guideline for an individual is $10,830.
- Although Hamilton County ranks first in Indiana in both per capita and median family income, approximately 20 percent of the county’s households are at low and moderate-income levels. The low income level is defined as 50% of the area median income and moderate income is 80% of the area median income. The 2009 low income levels (50% area median income) for a four person household is $34,050, while the moderate income level (80% area median income) for the same household is $54,500.