Indiana’s affordable housing problems outlined in report
INDIANAPOLIS (WISH) — Around the country, many families are challenged with the burden of severe housing costs.
According to a new report released by the organization Prosperity Indiana, the Hoosier state is leading in the Midwest. To address the issue, the Indianapolis city government released a plan to improve affordable housing.
The report says, although Indiana ranks as one of the most affordable places to live, few options exist. The coronavirus pandemic has made the problem even worse. Disparity is impacting lower-income, disabled, and senior communities the hardest.
A quarter of all Indiana renters are considered extremely low renter households, or sit very close to the poverty line. The cost to just live in a place eats up a large chunk of their monthly income.
“Seventy-two of those folks are spending more than half of their income on housing. And that’s the highest rate of severe housing cost burden in the entire Midwest,” said Andrew Bradley, policy director for Prosperity Indiana.
He said that he disparity has grown during the pandemic, and “it’s important for all of those folks (to) have the ability to have a safe and stable affordable housing,” expanding on work that already offers rental assistance and refinance support for current homeowners.
Mayor Joe Hogsett and the Department of Metropolitan Development are rolling out a plan using $6 million out of the $55 million allocated to the city under the federal government’s American Rescue Plan.
“Indianapolis like many other cities right now is facing a housing crisis, and everyone is feeling it,” said Scarlett Andrews with the Department of Metropolitan Development.
The money will be spent in neighborhoods to create and preserve affordable housing, specifically for people who make 60% less than the area’s median income.
The part of the plan focuses on creation and preservation of affordable housing will create 450 units around the city, including the north side, the near-north side, the west side and the near-south side around Fountain Square.
“You think about Fountain Square and Bates-Hendricks, that is really quickly losing the ability to get an affordable rate. Again, this is one of the neighborhoods around downtown, said Rusty Carr with Metropolitan Development.
The plan also addresses housing for people experiencing homelessness and substance abuse.
Bradley says it’s important that policy makers continue helping tackle issues through increasing resources and expanding public policy.
The City’s Indy Rent and Indy AMP programs are available right now.