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 throughout the next three years.
CURRENT HOUSING MARKET REALITIES
Throughout its 35-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.
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.
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.
We create affordable housing solutions for people with low and moderate incomes and collaborate to enhance quality of life in Indianapolis neighborhoods.
We envision an Indianapolis where every person lives in a home and neighborhood that enables them to thrive.
We believe home and community are foundational to quality of life - no matter who you are, where you come from or what you look like.
We stand against the persistent housing inequities faced by historically marginalized communities, and we are committed to advancing equitable affordable housing solutions that address the diverse needs, preferences and barriers of those we serve.
DELIVERING ON OUR COMMITMENT
Click to learn more about how Diversity, Equity and Inclusion (DEI) is part of our foundation.
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.
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.
In-person and online courses taught by trained educators to help consumers:
- Understand the benefits of renting versus owning a home
- Sharpen the financial literacy and skills necessary for housing sustainability
- Improve and manage their credit worthiness
- Learn every step of the homebuying process
Comprehensive, practical, goal-driven direction administered one-on-one by HUD certified housing counselors that empower people to remove real and perceived barriers to homeownership.
Affordable and innovative mortgages for people with low and moderate incomes so they can access capital, build wealth, sustain their investment and promote neighborhood stabilization.
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.
Financing to support site acquisition, construction, bridge or permanent debt that primarily yields affordable single-family and multi-family housing.
Direct investment and expertise, in partnership with neighborhoods, to address the short supply of safe, decent homes priced affordably in Marion County.
Acquiring properties near frequent transit lines which allow time for strategic development and preservation of affordable multi-family housing.
Funding awarded to nonprofits dedicated to affordable housing initiatives.
Purchasing and investing in residential real estate for the purpose of preserving affordable housing.
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.
Deploy strategies and solutions that recognize and address the unique barriers and aspirations of families disproportionately denied access to housing solutions.
Impactful and Sustainable Growth
Achieve greater mission impact through meaningful revenue growth and diversification; capital acquisition; and fiscal responsibility.
Responsive and Agile Innovation
Pursue innovative approaches to how we achieve impact and how we resource it.
Partnership and System Impact
Exchange knowledge and expertise at the local, state, and national level and collaborate to drive system impact and influence impactful public policy.
Data and Research
Drive a culture that leverages data and research to ensure responsiveness, efficacy, and accountability.
We believe in treating people and their opinions with dignity through attentiveness, consideration, empathy and ensuring mutual understanding when communicating.
We believe in developing effective partnership with the community, organizations, clients and colleagues through active engagement and relationship building.
We believe in creating a client-focused environment that is efficient, positive, responsive, welcoming, and friendly.
We believe in ongoing innovation, evaluation, training and growth while continuously having the courage to ask ourselves, “What can we do better?”
We believe in creating and maintaining a culture of honesty, transparency, and accountability to build positive relationships, confidence in others, and successful outcomes.