High rents squeeze budgets for Johnson County residents

While rising gasoline and food prices are already straining Hoosiers’ budgets, Johnson County apartment renters are struggling with rising rents.

The median rent for a two-bedroom apartment in Franklin is currently $1,400, up 93% from this time last year. In Greenwood, the median rent is $1,119, up 14% as of June 9, according to the latest data from Rents.com.

The increases don’t stop there.

When it comes to one-bedroom apartments, the median rent in Franklin is up 48% to $999. The data showed that the rent for a 3-bedroom apartment increased by 91% to $1,570.

In Greenwood, increases in studio, one- and three-bedroom apartments were less than Franklin’s increases. A studio apartment in Greenwood currently costs $1,102, a 24% increase from this time last year. The data shows that the median rent for a one-bedroom apartment is $945, an increase of 13%.

For a three-bedroom apartment in Greenwood, the median rent is $1,212, up 1% from last year, according to the data.

Since the COVID-19 pandemic began, the median rent in Johnson County has increased 19% to $1,027. That’s a huge leap, said Amanda Ott of the Johnson County Bridge Alliance, citing national rent data collected from the Washington Post. Bridges Alliance is a collaboration of companies, social service agencies, churches and individuals who work together to eradicate poverty in the community.

While other types of housing are being worked on in the towns and cities area, most of them include luxury apartments or market-rate apartments. Ott said affordable housing, both new homes and rentals, is sorely lacking in the county.

“We have luxury apartments in progress; It’s going into the $400,000 neighborhoods, but we don’t have anything for people who want that affordability.”

Even with the data now available, Ott says the data still doesn’t paint a picture of how bad it is, as the numbers are outdated by the time they are reported. With inflation now, she said, there are far more people reported who are renting and are barely making money.

As rents continue to rise, there is rental aid available. One major resource is the Indiana Emergency Assistance Program (IERA).

The IERA program results from more than $371.9 million in federal funding that the Indiana Housing and Community Development Authority (IHCDA) has received from the CARES Act to support Indiana families financially impacted by COVID-19. The program can provide up to 18 months of rental assistance to help cover late and ongoing monthly rent and utility payments for eligible tenants in Indiana, the agency says.

Families from across the state, including Johnson County, have used the program. In Johnson County, at least 958 families have been assisted through the state’s Emergency Assistance Program, with more than $7.6 million in rental assistance provided. More than $653,936 in utility assistance has also been issued to county families, according to the June 6 update from the IHCDA on funding.

The federal assistance program is also known as the Section 8 Housing Voucher Program. This voucher program helps extremely low-income families, seniors, and the disabled by helping them afford decent, safe, and healthy housing in private markets, according to the US Department of Housing and Urban Development.

The agency says any household who receives a voucher must pay at least 30% of their adjusted gross monthly income for rent and utilities.

Ott said it’s great that there are programs to provide rent and voucher assistance, however, landlords’ willingness to accept help can be an issue.

“Not all landlords accept coupons from some federal program and a lot of times people don’t even know that,” she said.

Some apartment complexes that offer housing units to low-income people do so only after receiving rental subsidies from HUD. The department is obligated to provide benefits for a maximum period of 15 years.

Once this 15-year period is over, the collector can choose not to participate and start offering apartments at market rates. Ott said that if a resident had a voucher and lived there, they would have to find another space to use or they would have to pay the market price.

“Depending on where you live, that can be difficult,” she said.

In Edinburgh, there are three places that participate in low-income housing programmes, and in Trafalgar, there are two. In Greenwood, the county’s largest city, there are about 19 places, and in Franklin about 16, however, those numbers aren’t certain because not all pools are willing to share information with organizations like Bridges Alliance, Ott said.

Even if they accept vouchers, she said, many complexes offer only a few units to low-income families.

“They don’t offer all units at reasonable prices,” Ott said.

Katie Schwartz, director of the Crisis Intervention Team, or KIC-IT, said many rental communities also did not renew housing contracts with the IHCDA, resulting in fewer options for those with vouchers. The organization collaborates with other groups and agencies to support young people, aged 16-25, who are struggling to break the cycle of homelessness.

The pandemic, along with the housing market boom, has also made it difficult for low-income families looking for rents. Many private landlords have sold their properties due to the eviction moratorium. Schwarz said many landlords lost money during the moratorium due to non-payment and because they were unable to evacuate people.

She added that in addition to the lack of affordable housing, rents have increased dramatically, creating a problem for those on low incomes.

“Rent in Johnson County is higher than the state average. The number has increased since COVID, but wages are not higher than the state average,” Schwarz said. “The discrepancy makes it more difficult.”

Advocates said inflation and a shortage of available housing will continue to make the rental situation difficult for the foreseeable future. However, one thing that can help is having a landlord registry so both communities and residents can see a complete list of all available rentals in their areas, Ott said.

“They (the owners) won’t have to pay,” Ott said. It is just a matter of registering so that people can get the information. At the moment, most rental services are verbal.”


by The Preparation

over here a a look in modified Rentals in Franklin And the Greenwood comparison to me One general earlier, with data as such From June 9:

Franklin

June 2022:

  • One-Bedrooms:$999
  • two-Bedrooms:$1400
  • three-Bedrooms:$1,570

mayo 2021

  • One-Bedrooms:$675
  • two-Bedrooms:$725
  • three-Bedrooms:$820

Greenwood

June 2022:

  • studio:1,102 USD
  • One-Bedrooms:$945
  • two-Bedrooms:1119 USD
  • three-Bedrooms:$1,212

June 2021

  • studio:$886
  • One-Bedrooms:$837
  • two-Bedrooms:1,092 USD
  • three-Bedrooms:1200 dollars

source: Rent.com

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