New report assesses home building’s impact on Indiana’s economy

INDIANAPOLIS (January 13, 2025) – A new report from the National Association of Home Builders (NAHB) has shed light on the economic contributions of home building in Indiana, demonstrating the industry’s role role in driving state and local economies. 

When new homes are built, it generates substantial economic activity, including income and jobs for residents and tax revenue for governments. According to the data, the estimated one-year economic impacts of building 1,000 single-family homes in Indiana include $378.7 million in income for Indiana residents, 4,357 jobs created across the state, and $70.8 million in tax revenue for state and local governments.

Moreover, these homes continue to bolster the economy long after they are built as occupants pay taxes and participate in the state economy. The annually recurring impacts of building 1,000 single-family homes in Indiana include $56.5 million in income for Indiana residents, 828 jobs in Indiana, and $18.1 million in annual tax revenue for state and local governments. 

Rick Wajda, Chief Executive Officer of the Indiana Builders Association (IBA), commented on the findings, “This report underscores the essential role of home building in Indiana’s economy. Residential construction not only provides housing, but also drives economic growth, creates jobs, and generates revenue that funds public services.”

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ABOUT IBA: The Indiana Builders Association (IBA) is a statewide trade organization representing Indiana’s home building, remodeling, and light commercial construction industry. Established in 1952, IBA has 20 local affiliates across Indiana and is associated with the National Association of Home Builders in Washington, D.C. IBA educates and advocates for the construction industry to positively impact legislative, regulatory, and legal issues that affect housing affordability. More information can be found at www.buildindiana.org.

Note to editor: Below is a graphic with statistics from the NAHB Economic Impact of Home Building report.