INDIANAPOLIS (WISH) – Single-family building permits are rising in eight of nine counties in Indianapolis.
The Builders Association of Greater Indianapolis announced single-family building permits increased 13 percent compared to 2015 numbers, and rose 14 percent over last month.
In August 2016, there were 3,979 new home permits issued compared to 3,532 last year.
According to a release, Marion County has the biggest percentage jump in permits with a 38 percent increase over last year, a 33 percent increase over last month, and rising numbers since May of this year.
“Development is beginning to happen in areas like Fortville, Pendleton and Greenfield, which are outside the typical growth areas we have seen in recent years,” says Steve Lains, CEO of the Builders Association of Greater Indianapolis. “The rising price points in our heavily populated counties are causing homebuyers to expand their search in order to find housing options that fit the average household income in the market,” says Lains.
Hendricks County is also showing high numbers with a 35 percent increase over last year.
Hamilton County had the most building permits at 1,477 year-to-date.
The average household income and price for each county in the nine-county area in 2014 was $76,110. On average, 23 percent of residents in the nine-county area have the income to support at home above the $250,000 price.