Two meetings were held in Fishers on Monday to discuss a proposed housing rental cap in city neighborhoods. The ordinance, set to go into effect in 2026, would limit rental houses and townhomes to 10% in each neighborhood. The meetings allowed residents to express concerns about how the cap could impact property values and community diversity.
Real estate broker Steve Ladig expressed concern that the rental cap could decrease the value of homes, especially in neighborhoods with a high concentration of rentals that have seen appreciation. Mayor Scott Fadness explained that the proposal was developed in response to residents’ concerns about an increasing number of rentals in neighborhoods.
Long-time resident Norma Johnson voiced opposition to the rental cap, suggesting it could exclude certain demographics from the community. Andrea Davis of the Hamilton County Affordable Housing Directive emphasized the need for a variety of housing options to support community growth.
The city council will hear public comments on the proposal on April 21. Organizers of the community-led panel plan to send all feedback to the council before a vote on the proposal. Residents are encouraged to share their thoughts on how the rental cap could impact the community and housing options in Fishers.
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