The latest report from the Fair Housing Center of Central Indiana shows homeownership has become harder to reach for many in Indianapolis.
The new analysis from FHCCI focuses on neighborhood change and finds home ownership has declined by seven percent in the past decade.
Many factors influence that change including affordability, lending practices and foreclosures. FHCCI Executive Director Amy Nelson said data on demographics indicate gentrification and displacement in urban core neighborhoods.
“These are our historically Black neighborhoods that are seeing these changes as white buyers are looking for affordable homes they can purchase,” Nelson said.
The report highlights diversity changes influencing the southside of Indianapolis with more Black and Hispanic families moving to neighborhoods. It also touches on the reemergence of risky lending and foreclosures.
Nelson says the influence of outside investors also impacts communities. Large companies own 15 percent of single-family rentals in Marion County much higher than the national average.
The report has a comprehensive list of neighborhood change data included.
Nelson says this is the fourth report this year for the center.
“It’s our hope then that by releasing these kinds of reports it’ll get more people talking particularly in places of leadership and we can truly change things once and for all,” Nelson said.