Rental prices in Indiana have remained high despite a slight dip in November, according to the Zumper National Rent Report.
Prosperity Indiana, a non-profit that supports affordable housing initiatives in the state, reported that there has been an 8.4% increase in rent for one bedroom apartments and a 19.8% increase for two bedroom apartments over the past year.
To address the issue of high rental prices, Prosperity Indiana is advocating for the construction of more affordable housing in safe areas and proposals such as a refundable tax credit for renters. The organization is also pushing for a policy that would allow tenants to withhold rent if landlords fail to perform necessary maintenance on their apartments. In the meantime, Prosperity Indiana is suggesting that renters can put their rent into an escrow account until these issues are resolved.
Prosperity Indiana believes that the average income earner should not be spending more than 30% of their income on rent each month. The non-profit is working to provide resources and advocacy programs to help Hoosiers in need of affordable housing.
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