The cost of a new home has risen 100% in recent years. Rent is up 50%. Here’s what the city is doing about it.
LAWRENCE, Indiana — It’s no secret — the cost to buy or rent a home is up across the United States.
Right now, Lawrence is home to about 50,000 Hoosiers. The city sits just outside Indianapolis in Marion County. It, too, is facing what some residents call a “housing crisis.”
This year, Lawrence Mayor Deborah Whitfield decided to do something about it.
“We are going to look progressively at the amount of housing we have, what kind of housing we have and where do we need to go in the future,” Whitfield said.
Whitfield announced the creation of the Housing Ready Task Force for the City of Lawrence. It is comprised of city council members, local realtors, residents and more.
“Here in Lawrence, we seek a thoughtful, more progressive approach to develop policies which will ensure that our city will have an environment where all types of housing can be developed and thrive,” Whitfield said. “In short, as its name suggests, we seek to become a housing-ready city.”
Alison Cole has been coined an affordable housing expert, according to the city. She lives in Lawrence and now serves on this newly created task force.
“Overall, 25% of our renters in the City of Lawrence pay more than 50% of their gross income on housing,” Cole said. “That is called severe rental burden.”
Cole says the housing troubles started, across the country, during the decade following the great recession.
“Nationwide, we saw a significant drop-off in the production of all housing,” Cole said, “and in the City of Lawrence, we saw housing production drop by 50%.”
In turn, housing prices are up 100%, says Cole. Renting prices are up 50%.
Cole says even for Hoosiers who own a home, everything costs more to keep it afloat. She says renters can’t save money for a down payment due to high rental costs.
Now, nearly every community is feeling that impact, according to Cole.
“Rising homelessness,” Cole said. “Rising eviction rates.”
“We have a lot of seniors and veterans that live here,” Whitfield said, “and young people that want to afford and raise a family in Lawrence. So we need to be very open to understanding the needs.”
Lawrence’s Housing Ready Task Force meets once a week to put together a comprehensive plan for the city’s future. Whitfield says more members may be added to the task force, if needed.
“A roadmap, a definition,” Whitfield said.
“The City of Lawrence is a wonderful community to live in,” Cole said. “It reflects, I think, our world’s diversity.”