INDIANAPOLIS — CareSource, a nationally recognized nonprofit health plan, has invested $2.5 million toward a new partnership as part of its $6 million commitment in investments to affordable housing projects in Indiana. The organization is investing with Indianapolis Neighborhood Housing Partnership (INHP), the leading homeownership resource in Marion County whose mission is to increase affordable and sustainable housing opportunities for individuals and families and serve as a catalyst for the development and revitalization of neighborhoods. INHP helps individuals on their homeownership journey with homebuyer and financial education, one-on-one homeownership advising, affordable mortgages and home repair loans.
A study from the Center for Research on Inclusion and Social Policy at Indiana University–Purdue University Indianapolis (IUPUI) found the Black homeownership rate in Marion County is 34%, compared to 64% for white homeownership in the county. At a state level, 37% of Black Hoosiers own a home compared to 73% of Caucasian Hoosiers. Moreover, even in predominantly Black neighborhoods in Marion County, 56% of homes are owned by white residents, with only 37% owned by Black residents.
Over the past year, CareSource has strengthened its commitment in contributing to affordable housing opportunities, and the investment with INHP is a continuation of this commitment. Supporting housing programs is crucial, as there is a shortage of rental homes affordable and available to extremely low-income households in Indiana, according to the National Low Income Housing Coalition.