Moving Out: Indy's Loss is a Big Gain for Two Counties
Moving Out: Indy's Loss is a Big Gain for Two Counties
July 21, 2005 – Paraphrased Article from Indianapolis Star
By: Bill Ruthhart, Jane Huh, John Fritze and Bill McCleery
New housing data census numbers released Wednesday show Hendricks and Hamilton counties are among the 25 fastest-growing nationwide in terms of housing construction.
Hamilton and Hendricks counties ranked 19th and 23rd, respectively, in the study released by the U.S. Census Bureau, which measured housing growth from April 1, 2000, to July 1, 2004.
Jim Litten, president of the residential real estate services division at F.C. Tucker, said people leaving Indianapolis aren't driving suburban growth. “People aren't leaving Indianapolis because they don't like it, but because the suburbs offer a product Indianapolis doesn't”, he said. "These homebuilders know what they're doing -- they're marketing to young families and empty nesters," Litten said. "They're building what people want and they're putting all the new bells and whistles in them that create a 'Wow' factor."
According to the recent census study, Hamilton County had a 25.9 percent increase in new housing units while Hendricks had a 25.6 percent increase.
"I believe the numbers, and I sure don't see it slowing down any time soon," said Kent McPhail, executive director of the Plainfield Chamber of Commerce. "The demand for housing in Hendricks County is going to continue strong because of the quality of life, schools and parks we have."
Rising home values in Hamilton County have helped to spur residential development in Hendricks County, where 2000 census figures say the median home value is $133,300. That number is $166,300 in Hamilton County.
"The growth is not abating, and it's going to continue to grow pretty significantly over the next 20 years," Carol Rogers, a census expert at Indiana University, said. "The only question ultimately is when will these counties run out of land?"
