Highlighting Hancock County, IN's Growth: The HEDC Celebrates National Homeownership Month

Moving to Hancock County, IN, is a smart financial decision. Despite higher interest rates, the median home price in this area is a budget-friendly $336,273—nearly 15% lower than the national average of $393,500. Hancock County is an attractive option for those who are mindful of their finances and to secure their family's future.

June is National Homeownership Month, a time to reflect on the importance of owning a home and its role in strengthening communities nationwide. Throughout this month-long celebration, we recognize homeownership's many benefits to families, neighborhoods, and local economies. The Hancock Economic Development Council (HEDC) proudly joins this celebration by highlighting homeownership as a pathway to stability and prosperity.

The Impact of Homeownership in Hancock County, IN

Owning a home is more than just having a place to live; it's a symbol of pride, a reflection of your accomplishments, and a foundation of stability for you and your family. Homeownership also offers financial benefits, such as tax deductions and often lower monthly mortgage payments compared to long-term rent. Additionally, buying a home is considered one of the best long-term investments, with residential real estate typically appreciating by an average of 3 to 5% annually.

Homeownership offers a wealth of advantages that reach beyond the individual homeowner. It often plays a crucial role in cultivating vibrant and resilient communities. It contributes to expanding the community tax base, which can help alleviate the tax burden on individuals. Research shows a direct correlation between higher homeownership and lower crime rates, underscoring the positive impact of stable housing on neighborhood safety. By choosing to purchase a home in Hancock County, you're not just securing your own future but investing in our community's future.

Homeowners are also more likely to be actively involved in their communities. They volunteer more frequently, support local businesses, and contribute to the economy. Furthermore, homeowners are more inclined to engage in civic activities and elections, which is essential for a vibrant democracy.

Research conducted by the National Association of Realtors (NAR) explores the housing market and its economic effects. According to NAR, every two home sales support one new job, highlighting the far-reaching economic benefits of homeownership.

Hancock County, IN, Is the Place to Be for Aspiring Homeowners

Hancock County's appeal as a place to live, work, and play is rapidly increasing, with significant developments in Hancock Gateway Park and across the region. The recent opening of a senior living community, alongside plans for a conference center and hotels, reflects the area's growth.

The surge in development is part of a more significant growth trend in Hancock County. From 2019 to 2023, 25 business announcements regarding new locations or expansions were made, according to information from the Indy Partnership. Additionally, over 50 new members joined the Greenfield Area Chamber of Commerce last year, a significant increase compared to previous years.

"People are flocking to Hancock County for good reason," said Mitchell Kirk, Communications Director for the Hancock Economic Development Council. "We offer excellent housing options, top-tier schools, quality healthcare, public safety, and recreational activities. There's ample opportunity for growth and success here."

Discover Your Path to Homeownership

National Homeownership Month is a time to celebrate the dream of owning a home and recognize its profound impact on individuals, families, and communities. Through the efforts of organizations like the HEDC, more people can experience the joys and benefits of homeownership. As we commemorate this month, we reaffirm our commitment to building more robust, vibrant communities through sustainable and inclusive homeownership initiatives.

This month is the perfect time to explore purchasing a home. The HEDC helps families integrate into the community through homeownership. Visit our housing page or contact us to learn how we can help.