Given current funding and construction trends, it will take about 286 years to meet the current demand for income-based housing in Hamilton County.
That’s one of the takeaways in a new report from Indianapolis-based consultant Greenstreet, Ltd. Released at HAND’s Suburban Housing Conference on May 4, the 2022 Housing Study showed that Hamilton County is becoming less affordable to more people.
Stagnant incomes and growing home prices create affordability problems for most income groups, but especially for those households earning less than $98,000 (120 percent of area median income).
To address the issue of decreasing attainability, the study recommended Hamilton County stakeholders work together to reduce the cost of development, remove the social stigma attached to attainable housing, stabilize and support at-risk individuals and families, and increase funding for affordable homes.
The study was commissioned by the Noblesville Housing Authority on behalf of the Hamilton County Housing Collaborative, a coalition of 50-plus individuals representing dozens of organizations working to address the community’s housing needs.
As a group, the Collaborative believes that housing should be attainable for those who want to call Hamilton County home – during every stage of their lives – to uphold the economic well-being of Hamilton County. For that to be possible, the county needs a full continuum of housing products and prices.
This year, the study also included information about four specific strategies that could help improve the outlook for accomplishing that.
Click the highlighted text to read the 2022 Hamilton County Housing Study (and its Data Supplement) and learn more about Community Land Trusts, Housing Trust Funds, Public-Private-Philanthropic Partnerships, and Strategies to Increase & Diversify Housing.