Housing Program Analysis & Recommendations
Indiana Association of Realtors
Economic Strategy
Indiana Association of Realtors (IAR) represents more than 18,000 Realtors who are involved in virtually all aspects related to the sale, purchase, exchange or lease of real property in Indiana. They track statewide policy efforts and are advocates for supporting homeownership. IAR is a trusted source for reports and other information around housing across the state.
IAR wanted to better understand housing development finance and housing ownership/ rental programs in Indiana. They also wanted to understand what other states were doing to promote housing development and homeownership.
Our Approach
Our work built on the work of the Indiana Housing Task Force, which studied strategies for rebuilding inventory, including new infrastructure financing programs. IAR, in conjunction with steering committee partners across state agencies, encouraged Fourth Economy to look specifically at 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 tying housing development finance strategies to align with economic development goals and workforce attraction and retention efforts.
The Results
Statewide, housing development hasn’t kept pace with economic and population growth trends, leaving an estimated gap of 30,000 housing units. Our report stresses 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 housing finance promising practices from across the U.S. Our work gives state officials the opportunity to address inventory gaps with thoughtful investments, building on the work of the Housing Task Force and learning from the successes and shortcomings of other states.
Location
Indiana