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Study finds disparities in home values across Marion County

Posted at 7:17 PM, Feb 18, 2020
and last updated 2020-02-18 19:18:58-05

INDIANAPOLIS — A new study from IUPUI found a disparity in home values in Marion County and predominately black neighborhoods are the most affected.

Specific areas in the county are being undervalued, sometimes by around $40,000, because they are in predominantly black neighborhoods.

"It's crucial because homeownership is usually a major way to build wealth," said Breanca Merritt, with the Center for Research on Inclusion and Social Policy.

Merritt says homeowners could be impacted in their day to day lives when you look at some of the things that could cause disparities.

"I think there are a lot of concerns about not just the home value, but also what it means to live there in terms of access to amenities and other things that we know are important to assessing not just the home, but an entire neighborhood," Merritt said.

Some local realtors say they are not surprised by the data and say its something they sometimes see when helping people looking to buy a home.

"Schools is a big thing," Broker/realtor Asha Bryant said. "There's no place to go to the grocery store, maybe they don't feel safe."

Some people think investments from businesses and city leaders could reverse the trend.

Researchers say completing the study was only the first step and hope it will promote change in these neighborhoods.

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