Housing Program Analysis & Recommendations
Indiana Association of Realtors
Economic Strategy
The Indiana Association of Realtors (IAR) represents more than 18,000 Realtors involved in virtually all aspects of the sale, purchase, exchange, or lease of real property in Indiana. They monitor statewide policy efforts and advocate for supporting homeownership. IAR is a trusted source for housing reports and information across the state.
IAR sought to better understand housing development finance and housing ownership/rental programs in Indiana. They also wanted to learn what other states were doing to promote housing development and homeownership.
Our Approach
Our work built upon the findings of the Indiana Housing Task Force, which studied strategies for rebuilding housing inventory, including new infrastructure financing programs. IAR, along with steering committee partners across state agencies, encouraged Fourth Economy to specifically examine states that had adopted unique workforce housing development programs and programs supporting housing development for moderate and middle incomes. Partners across state agencies were interested in aligning housing development finance strategies with economic development goals and workforce attraction and retention efforts.
The Results
Statewide, housing development has not kept pace with economic and population growth trends, resulting in an estimated gap of 30,000 housing units. Our report emphasizes that a continued shortage of workforce-accessible housing could hinder the state’s future economic development efforts. Our analysis confirmed that Indiana is making the most of existing federal, state, and private dollars and identifies promising housing finance practices from across the U.S. Our work provides state officials with the opportunity to address inventory gaps through thoughtful investments, building on the work of the Housing Task Force and learning from the successes and shortcomings of other states.
Location
Indiana