Amid elevated prices, high mortgage rates and difficulty saving money for a down payment, only about four in 10 renters think that they will be able to buy a home.
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Nearly 29,000 residents now live downtown, up from about 15,000 in 2010. It’s a number that has been growing as developers continue to add apartment and condo units in the Mile Square and downtown neighborhoods.
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The 32-acre build-to-rent project would be on the north side of the 400-acre Legacy mixed-use development, which is along the south side of East 146th Street and west of River Road.
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At least 200 homeowner groups in central Indiana have modified their subdivision covenants in the past five years to limit rentals—a number that is based on the work of just one law firm.
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Communities across central Indiana are taking notice as out-of-state investment companies continue to increase their market share of single-family houses and convert them to rentals.
Some advocates warn Senate Bill 157—which would require police to remove “squatters” within 48 hours—would allow landlords to skip the court, chipping away at tenants’ rights.
The lawsuit is among the Justice Department’s first major enforcement actions in which software is being alleged as the primary means of collusion.
The plan is likely to prove controversial among economists, including many Democrats. Experts on both sides of the aisle tend to argue that government limits on rent discourage new development by making it less lucrative.
The proposal would create a permitting system that imposes a $150 annual registration fee and allows the Department of Business and Neighborhood Services to conduct an inspection of the properties.
The findings, from an annual report jointly published by the National Low Income Housing Coalition and Prosperity Indiana concluded that Indiana dropped from 43rd to 34th in terms of affordability between 2021 and 2024.
The Tenant Advocacy Project, launched in 2021, is one of the few tools city officials have to fight Indianapolis’ high frequency of evictions, and organizers want to see the program continue.
After failing to make a significant dent in the problem over the last decade, state and federal lawmakers across the U.S. are making housing a priority in 2024 and throwing the kitchen sink at the issue.
Build-to-rent houses are typically built as a master-planned community with 100 to 200 houses, average monthly rents of around $2,000, and amenities.
The IndyRent program “pause” is to ensure renters who have filled out an application can be given the remaining funding, according to the city. Indianapolis renters have recently experienced a higher rate of evictions than the rest of the nation.
After a lull during the pandemic, eviction filings by landlords have come roaring back, driven by rising rents and a long-running shortage of affordable housing.
Being able to afford rent, according to the report, means spending no more than 30% of your income on housing. With fair market rent for a two-bedroom home at $988 per month, wages are just not keeping up.
The IndyRent application will reopen Thursday, April 27, with some new changes to the requirements and application process.
The number of people renting in downtown’s 46204 ZIP code doubled to 5,500 from 2011 to 2020, according to a recent study from California-based market researcher RentCafe.
Overall shelter costs in the United States saw their biggest year-over-year increase since 1982.
Twenty-one states and the District of Columbia allow community solar projects. Indiana is not one of them, according to the EPA.
At its peak, the rent-assistance program doled out $7 million in a month. That rate is impossible post-pandemic, so the city must decide how much eviction-prevention assistance is possible.
Rental prices nationwide are up nearly 15% from a year ago and almost 25% from 2019, according to the real estate company Zillow.
Driven by some of the strongest returns in real estate, investors have shaken up a once-sleepy sector that’s home to more than 22 million mostly low-income Americans in 43,000 communities.
The grant funds will go toward hiring and supporting facilitators in the courts. Those individuals will provide tenants and property owners with information about eviction diversion programs and emergency rental assistance.
