More than $12 million acquired for Indianapolis affordable housing programs

Indianapolis Neighborhood Housing Partnership announced it has acquired more than $12 million in financing to support affordable housing initiatives. The funding is expected to reach hundreds of people in Marion County.

INHP President and CEO Gina Miller says the funds come from a mix of grants, tax credits, and subsidies and will be used to further its ongoing projects, including construction of affordable housing and below-market mortgage rates.

“We can't do that kind of thing without this kind of capital,” Miller said. “It's really, really important to our work, and that's part of the reason we're able to help families still get across the finish line.”

INHP, a nonprofit and community development financial group, served over 1500 Indianapolis families in 2024, including providing nearly $25 million in mortgage financing. It also offers courses on financial literacy and homebuyer education.

“Home prices in Marion County have increased by over 60% the median home price in just five years. To make that real numbers, that's about $100,000 - a home that a teacher or a firefighter or a nurse or a police officer could afford just five years ago,” Miller said. “Combine that with mortgage rates that have increased in that same time frame by 80%, and all of a sudden, what families can afford has just become out of reach for a whole new swath of hardworking families.”

INHP focuses on assistance for low- and moderate-income families, particularly those in historically marginalized communities. As of 2020, approximately 36% of Black residents in Marion County owned homes, compared to nearly 63% of white residents.