STRATEGIC PLAN (2024-2026)
This plan establishes the framework within which INHP will operate to bring affordable housing solutions to the people and places of Marion County through 2026.
CURRENT HOUSING MARKET REALITIES
Throughout its 38-year history, INHP has understood that living in a safe and affordable home offers countless tangible, measurable benefits to a person's wellbeing. Yet, the people with low and moderate incomes we serve continue to be challenged by complex, multi-faceted barriers as they pursue housing that meets their needs.
Affordable homeownership
In just three years, the median sales price in Marion County rose nearly 25%, and the 30-year mortgage interest rate more than doubled.
Practically speaking, when taken together, this equates to roughly $80,000 less homebuying power for those we serve, leaving them markedly fewer options in this competitive and fast-paced environment. These dynamics are particularly real in Marion County where fewer than four out of 10 households earning up to 80% of the area median income (AMI) are homeowners.
Incomes and inflation
During that same time, increases to median incomes for those we serve have failed to keep pace with high inflation, putting further strain on budgets and making saving for a down payment and managing credit even more difficult for families to prioritize as they pursue homeownership.
Affordable rental
Rental housing affordability is no better. Demand has increased due to several trends: Renting has become more attractive to higher earners, mobility among renters has declined, homeownership is more elusive, and two massive demographic groups — Baby Boomers and Millennials — are seeking rentals at the same time. In Central Indiana, nearly 25% of units that would be affordable to households earning low incomes are occupied by higher earners.
Clearly, creating more affordable rental housing is necessary, but changes to developer tax credits, along with limited subsidy, rising interest rates, zoning regulations and community concerns continue to create obstacles to multi-unit development.
To be effective in helping people with low and moderate incomes reap all the positive financial, physical, mental, emotional and educational outcomes of living in a safe, accessible and affordable home, INHP must offer relevant and comprehensive solutions that address these challenges. And we must work in partnership.
HIGH LEVEL OF SERVICES
LOW / NO LEVEL OF SERVICES
HIGH LEVEL OF PUBLIC / PHILANTHROPIC SUPPORT
LOW / NO LEVEL OF SUPPORT
OUR PLACE IN HOUSING
On a housing continuum that ranges from homelessness to market-rate, INHP’s place is right in the middle, focused on families with low and moderate incomes who desire choice in a housing opportunity that is affordable for them.
MISSION STATEMENT
We create affordable housing solutions for people with low and moderate incomes and collaborate to enhance quality of life in Indianapolis neighborhoods.
VISION STATEMENT
We envision an Indianapolis where every person lives in a home and neighborhood that enables them to thrive.
OUR GOALS THROUGH 2026
INHP has established measurable goals toward which INHP's efforts and investments will be directed. Goals reflect the key aspects of our mission, defined and categorized between consumer and community solutions.
CONSUMER SOLUTIONS
Empowering more than 5,000 families to achieve better housing outcomes.
INHP will support 675 mortgage originations supporting an estimated $100 million in home purchases.
Reaching more than 5,000 Indianapolis families through responsive and innovative products and programs.
COMMUNITY SOLUTIONS
Investing an estimated $250-300 million in neighborhoods.
INHP will expand, preserve or upgrade the supply of affordable housing by 3,300 units supporting an estimated $250-300 million investment.
Investing across various strategies.
WHAT WILL IT TAKE TO ACHIEVE OUR GOALS?
It is impossible to forsee what opportunities and threats will shape our endeavors through 2026. What we can rely on are the core values we uphold as a team and the strategic initiatives that summarize our intent and clearly state how we intend to act out our mission.
