For those living in the 46218 ZIP code, finding affordable housing is becoming an increasingly difficult challenge.
While property prices have surged in recent years, the median household income has not seen comparable growth, leaving many residents struggling to make ends meet in a community where the cost of living is quickly outpacing earnings.
According to the U.S. Census Bureau, there are nearly 10,000 residents in Martindale Brightwood living in approximately 3,600 housing units. Of those residents, 78% are Black, and the median age is 37.
Justice40, an initiative to provide underserved neighborhoods with funds to improve the local environment, identified Martindale Brightwood as being disadvantaged for several reasons:
- Historic underinvestment
- Low income
- High rates of asthma, diabetes, heart disease and low life expectancy
- High energy costs
- Unemployment rates
- Education rates
Several of these factors, coupled with being in the 80th percentile for low-income residents, mean that Martindale Brightwood is a disadvantaged area in several areas, including housing.
The median household income for Martindale Brightwood sits around $32,000, around $30,000 less than the average income of Indianapolis.
According to Redfin’s housing market tracker, the median sale price of homes in 46218 was $132,500. The average saw nearly a 40% growth from July 2023, when the average price was $95,000. The market is ranked as “somewhat competitive,” and the average homes sell for about 5% below list price.
Let’s break it down: For someone trying to buy a $132,000 house with an income of $32,000, 20% down is the standard, so $26,400 down. After that, an estimated payment, including taxes and fees, would be around $885 per month. After a mortgage payment, someone with that income would have $1,715 left for the electric and gas bills, food, shopping and any emergencies that come up.
This estimate also does not include the closing costs for the home, which could be anywhere from 3-6% of the total loan amount.
“We just couldn’t do it,” said Amy Barrick, 29, of Indianapolis.
Barrick was trying to buy a house in March 2024 in the 46218-area code, but she and her husband couldn’t afford the down payment, even with both their incomes.
“I mean, with gas, with food, how is anyone supposed to (buy a house)?” Barrick said. “It’s just not a good experience.”
Barrick’s story is like many more 46218 residents looking to upgrade from renting to owning. The trouble is there aren’t enough houses in the income range needed. The average age of a home in Martindale Brightwood is 1956, with only 314 built between 2000-2019.
There have been plans made to improve the issues facing residents like Barricks. In the Martindale Brightwood Quality of Life plan unveiled this summer, housing was a priority. The plan is to decrease the number of abandoned houses, increase homeownership opportunities and identify and engage the absentee landlords of occupied structures.
“We need the community’s support in this,” said Delma Williams, spokesperson for the housing portion of the Quality of Life plan. “Please get involved.”
To increase homeownership opportunities, the community plans to develop marketing materials to identify community assets and resources, make home ownership counseling available, create a welcome committee to welcome new homeowners, monitor the impact of rising property values and taxes and create homeowner resources.
With the average cost of homes in 46218 on the rise and the cost of living on the rise, people like Barricks will continue to live in rented units, unable to afford a down payment, closing costs or a monthly mortgage.
“I just want to have something of my own,” Barricks said.
Contact Health & Environmental Reporter Hanna Rauworth at 317-762-7854 or follow her on Instagram at @hanna.rauworth.
