What’s true in Indiana is probably true in other states. Newly released
research data from the Indiana University Public Policy Institute Center
for Research on Inclusion and Social Policy show low home values continue
to impact predominately Black communities, reports WISH.com. There’s a
stark contrast in the so-called home-value gap compared to other
communities in Marion County, Indiana, for example.
A previous study done by the Brookings Institute showed similar findings
when looking just at Indianapolis. The IU Public Policy Institute Center
decided to take a broader look at Marion County as a whole, and researchers
said they’ve found much of the same. Research from IU Public Policy
Institute Center studied a variety of neighborhoods around Marion County.
Nine of them — considered predominately Black — are coming up short, at
least when it comes to the value of homes.
“And so there’s no reason why on face value, if they’re home is very
similar to another home across the city, why they shouldn’t get the same
return on their investment,” said Breanca Marritt, Public Policy Institute
Center director. According to the research, about a quarter of Marion
County’s Black population live in predominately Black neighborhoods. The
homes are valued about $40,000 less than the county’s overall average. The
gap researchers say is even larger compared to neighborhoods with little to
no Black people.
“If your home is worth less, you can go somewhere else. But one not
everyone can do that and also a lot of people don’t want to do that,”
Marritt said. “They like to live where they live and they just want to have
the same opportunities as someone else.”
Researchers said some of the potential long-term impacts of the so-called
home-value gap include access to fewer amenities, better schools, new
businesses, and even gentrification. “I don’t think the goal is for them to
necessarily move as much as for the community broadly speaking to really
think about ways to improve the experiences,” Marritt said. While there are
a variety of factors, researchers say, one of contributors to the
home-value gap could be limited access to homeownership. Another
contributor could also stem from practices — now outlawed — that were put
into place decades ago.
“If you look at our map, it aligns very closely with the red lining maps of
Indianapolis that was created decades and decades ago.” Now that this study
is done, the Public Policy Institute Center is planning on performing
another study that outlines what it means to live in a more diverse
community.
