According to its August 2021 report, MarketGraphics Research Group cites the new home price based on closings as $490,000 in Hamilton County, with a forecasted average of $390,000 across the Central Indiana region.
How can we help the better align rising housing costs with Hoosier wages and tackle some common misperceptions about housing? Build Indiana Roots is a coalition of business groups and trade associations who support achievable housing for Hoosiers.
Increasing housing costs are stifling the growth of communities across Indiana. The goal of Build Indiana Roots is to educate Hoosiers on achievable housing and advocate responsible, balanced housing policies, so all residents can achieve their home buying dreams.
So what is achievable housing — and why does it matter? Achievable housing is non-subsidized housing that is affordable to folks with an income between 80 – 120% of the area’s median income of $54,000 (2018). In other words, it is within reach of households earning between $43,200 and $64,800. Who are these people? Us! They’re our community leaders and helpers: municipal employees, teachers, small business owners, nurses, managers and tradespeople.
Achievable housing allows more people to access affordable homes.
Achievable housing can take many different forms, including:
- Single family homes on smaller lots in higher density neighborhoods
- Duplexes »Townhouses
- Courtyard or bungalow style communities
- Multifamily housing
Achievable housing does not mean lower quality. It does not mean stripped-down homes in less-desirable areas. What it does mean is that more people can afford a safe, secure, well-built, welcoming home in their community.
Visit www.buildindianaroots.com to learn more and sign up to join the coalition!
