IncSmart Indiana (Small Business and Startups) -
Real estate resale is booming in Indiana. Developers are buying land and in rural Hamilton County on which to build houses and new neighborhoods. The number of existing lots is shrinking in existing neighborhoods. This new wave of residential economic development is also looking at affordable housing options. There are many Indiana financing options are available for developers and organizations willing to build affordable housing. The most common is low-income housing tax credits. This can cover 90 percent of a affordable housing expenses. Federal authorities are investigating housing discrimination complaints against Hamilton County's housing boom.
New housing is up by 14 percent in Indiana, with developers building new neighborhoods again. Noblesville and Westfield are the two cities in Hamilton County that still have significant room to grow. Builder are looking for steady growth through 2021. The prices of homes however have been driven upward of $250,000. The boom appears to be building for more high-end housing and an emphasis on homeowners over renters. This has led to little development of affordable housing options. As of May 2017, unemployment is Hamilton County was 2.2% as compared to the state of Indiana at 2.8%
By IncSmart Staff Writer
Starting a Business in Indiana - Indiana Corporation - Indiana LLC
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