25-05-2025
'Spending Time': Tippecanoe's hot market leaves some buyers searching for affordable homes
WEST LAFAYETTE, Ind. — In their rural West Lafayette home on Monday, May 19, Andrew Jeffries' family of five is settling in after a day full of work and school activities, passing through the living room of their roughly 1,373 square foot house.
Jeffries and his wife, Kourtney, purchased the three bedroom, two bathroom home on Hawthorne Ridge Drive for $135,000 in 2017. Moving from Crawfordsville to West Lafayette, Jeffries said the couple didn't think this home, the third they've owned and lived in since they married in 2015, would be their "forever home."
But now, as property values in Tippecanoe County continue to increase, Jeffries said they feel stuck in their mortgage. Amid the nearby incoming development of the "Millbrook," a housing development estimated to build 771 new homes valued between $350K to $1 million, Jeffries said he worries the nearby construction will likely further drive up the cost, and property taxes, of area homes.
"I know it means more money coming in (to Tippecanoe County), and I'm not opposed to a housing development," Jeffries said. "I am opposed to the price tag, and I am opposed to doing it without a plan for improving our infrastructure."
Joseph Spivey, a real estate advisor with Silver Lining Real Estate Group, said Jeffries isn't alone in his concerns, noting the West Lafayette home owner's sentiments were ones he'd heard echoed through his own clients.
"Young home owners have a lot of apprehension about getting into the market," Spivey said. "Yes, home values are going up, but there is not enough clarity out there for how to get to the path of home ownership."
As new project developments have come across his desk as a Tippecanoe County Commissioner, Tom Murtaugh said so has the conversation of affordability in new housing developments.
In late 2022, Tippecanoe County officials received $30 million in READI funds that were used to fund a regional housing study, improve regional water infrastructure, sewage, sidewalks and broadband projects across the region.
Some of those READI funds, Murtaugh said, went to the city of Lafayette to fund the expansion of sewer and water to the south of the city, opening up hundreds of acres for new housing development.
While expanding sewer and water access is a key to increasing land access for housing, Murtaugh said another key was finding a way to build more single family units on smaller lot sizes.
During Wednesday night's monthly Tippecanoe County Area Plan Commission meeting, APC staff will present an amendment that would allow for a new zoning option for developers called R1C.
Amanda Esposito, APC assistant director, said the new zoning would allow for homes to be constructed on lots as small as 4,400 square feet versus the current smallest zoning option for rural developers of R1B, which allows for lot sizes of 6,000 square feet.
Steve Schreckengast, member of the Builders Association of Greater Lafayette and president of Citation Homes, said he and other developers first approached APC staff with the idea for an R1C zoning option as an effort to help reduce the cost of housing in Tippecanoe County, placing more homes on a single acre.
"There are other options to help drive down the cost, like the new townhouse ordinance, which is single family attached homes. But that requires the construction of two or more within the development," Schreckengast said. "R1C will allow for more single-family detached homes, but they'll just be built on more narrow lots."
In recent months, Indianapolis-based Arbor Homes brought plans to the APC for a new neighborhood that initially planned to be majority R1B construction. But neighboring residents in the Raineybrook subdivision voiced their disapproval, leading the developer to move some of the project from R1B to R1A, eliminating some of the planned housing.
Given that much of the new construction taking place within Tippecanoe County is outside of city limits, Murtaugh said the concerns such as that of the Raineybrook residents are ones he hears often, noting neighbors are often displeased with anything other than R1 zoning.
"I encourage folks in the community to be more tolerant to different developments around them," Murtaugh said. "Housing is a real issue and we need housing of all types."
When meeting with new clients who are searching for a home, whether it's their first home buying experience or their fifth, Spivey said he asks the same question.
"I always ask them if they think this purchase will be their forever home," Spivey said. "Being as curious as possible for the home buyer and working from their point of view helps quite a bit in navigating the market."
Younger home buyers, a client base Spivey said he tends to see a lot of, are warming to the idea of living outside of Tippecanoe County and rural areas, he said, particularly if they are looking at a price range between $200K to $250K.
"For them, it's a lot of crunching numbers on where they want their kids to go to school, how far away are they willing to be from family," Spivey said. "But I have also seen situations where I have helped a young family buy a home in the rural areas, and then their aunt or uncle or whoever will reach out to me and want to move, too."
New build price tag trends have become common in the low to mid $300k starting range, Spivey said. While younger families have been able to manage budgeting higher, Spivey said buyers realize how quickly the change of a counter top color or the repositioning of a window within a wall space can effect their home's price.
"If a builder has a certain layout and style option for the home, they will go off what is most efficient," Spivey said. "I just went through this with a young couple who went through the new build process. Sometimes they will say the homes start in the upper $200K range, but as you add or change things, even as much as going from an electric stove to gas, the price can creep up."
For Jeffries and his family, he said he knew when they purchased their home that some additional projects would need to be addressed in order to keep up on the home's general maintenance, but it wasn't anything that deterred them from the home entirely.
The reason for the family's move, Jeffries said, was due to his job at Subaru Automotive of Indiana, and the location of their home was partially chosen due to the nearby Tippecanoe School Corp.
If the Jeffries were to sell their house today, he said, he believes it could list for around $250K, given neighboring home price listings, the amount of land his home sits on, and proximity to TSC schools.
Jeffries said his own health complications make the situation a little less flexible, knowing he will need to pay out-of-pocket costs associated with his illness in years to come that will be several thousands of dollars.
The 1,373 square foot house works for his family, Jeffries said, as his son, Alex, plays on the family's computer against the living room wall. While at times he said the home can feel small, he feels comfort in knowing that no matter what happens, he and his wife will be able to make their mortgage payment.
But if the family were to sell their home today, Jeffries said he isn't sure where they would go in order to provide more space for a similar price tag. Uninterested in uprooting their children from their schools, Jeffries said, the family of five will likely stay where they are in their 1,373 square foot home.
Spivey said if the Greater Lafayette area could find a way to build new homes for less than $250K, homeownership would become more attainable to more residents.
"If we could find a way to do this, it would help a lot more people feel stable and secure in our community," Spivey said. "And when people feel that way, especially as homeowners, they become more involved in their community. It creates a ripple effect that we all should want."
Jillian Ellison is a reporter for the Journal & Courier. She can be reached via email at jellison@
This article originally appeared on Lafayette Journal & Courier: Tippecanoe's housing market is hot, but 'affordability' can be sparse
