In today’s fast-paced world, the concept of home is more important than ever. It’s where we build our lives, raise our families, and contribute to our communities. However, for many Hoosiers, homeownership dreams are becoming increasingly out of reach due to rising costs and housing shortages. Indiana needs to make changes to resolve the situation. At Build Indiana Roots, we recognize the critical role that achievable housing plays in the growth and prosperity of our communities.

The Current Situation: A Lack of Housing Affordable for Hoosiers

The Indiana housing market trends paint a concerning picture. Housing shortages in Indiana, particularly in cities like Indianapolis, are creating barriers for new households looking to put down roots. This shortage not only affects individuals and families seeking housing that is affordable but also impacts the overall health and vibrancy of our communities.

The underlying issue isn’t all bad.  As reported in another of our recent blog posts, there has been tremendous GDP growth in Indianapolis.  That’s a great thing, and sellers have enjoyed a 4.7% increase in housing prices as a result, but that also means that many buyers simply can’t afford the available housing in and around the city. Despite the steady economic growth, there has been a notable lack of new construction, which means houses aren’t being built fast enough to accommodate the increasing population.  That’s true in Indianapolis, and throughout Indiana.

Looking Forward: Creating Achievable Housing in Indiana

At Build Indiana Roots, we are committed to addressing these challenges head-on. We believe that by educating Hoosiers on achievable housing and advocating for responsible, balanced housing policies, families can build roots and keep reinvesting in the community. Here are some key proposed ideas that have been circulating to resolve the current Indiana housing market trends:

  • Reform zoning regulations to allow for higher-density development and mixed-use zoning, promoting the construction of more housing units.
  • Streamline permitting processes to expedite the approval of housing developments and reduce construction costs.
  • Incentivize developers to build achievable housing through tax breaks and grants.
  • Preserve existing housing stock through rehabilitation programs and property tax incentives.

To learn more about the current housing situation in the Indianapolis Metro area, we encourage readers to explore the Indianapolis Housing Report. Let’s change the trends and address housing shortages! Together, we can work towards a future where all residents can achieve their home buying dreams and communities thrive.