NORTHEAST INDIANA, (WOWO) – Northeast Indiana counties could see an increase in housing developments over the next five years.
A recent study by the Zimmerman/Volk Associates, Inc. determined the market potential for new rental and for-sale housing units for 10 of the 11 Northeast Indiana counties.
The 10 counties include Adams, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley. Allen County was excluded as it is home to Fort Wayne, the second-largest city in Indiana, and therefore is its own market.
The study found the region could potentially absorb 8,775 to 10,975 new rental units, 765 to 955 new townhouses, and 2,645 to 3,965 new detached houses, totaling nearly 16,000 new housing units over the next five years.
Available housing is a critical factor as Northeast Indiana works to grow the region’s population to one million residents by 2030, as part of the Vision 2030 Initiative.
As the next step, the Northeast Indiana Regional Partnership plans to convene a housing committee to develop regional strategies and solutions to current housing needs based on the new data.