As first-time homebuyers grow older nationwide, Indy's share of young homeowners is above average.

Why it matters: Even with steep housing prices and elevated mortgage rates pushing homeownership out of reach for many young people, Indianapolis has managed to maintain its position as a relatively affordable place to put down roots.

The big picture: U.S. homebuyers are now the oldest on record, with the median age of first-timers reaching 38, a recent report from the National Association of Realtors found.

• That's up from 35 last year and marks a new high in NAR data from 1981.

Driving the news: 12.7% of homeowners in Indianapolis are under the age of 35, according to the latest U.S. Census Bureau data.

• That's higher than the national average of 10.7%, and second highest in the Midwest.
• Des Moines, Iowa, tops the region with 15.3% of homeowners under 35.

By the numbers: Most Indianapolis homeowners (20.2%) are between the ages of 55 and 64.

• That age group has a slight lead on the 20% of homeowners between 35-44.
• Just 10.9% of Indy homeowners are 75 or older.

Zoom in: Across the country, younger people struggling with high housing costs are moving back in with their parents to make ends meet.

• About 26% of younger people who recently bought homes say they used family cash for down payments, according to Redfin research.

The latest: Some couples looking to purchase homes are asking loved ones for cash instead of traditional baby or wedding gifts.

Reality check: Those "who don't have family money are often shut out of homeownership," Redfin chief economist Daryl Fairweather said in a research report.

Go deeper

The median home price in Indianapolis was about 3.8 times that of the median household income in 2023, according to a new Harvard study.

Why it matters: Young homeowners might be enjoying the Circle City's relatively affordable starter home prices, but homes still cost more than they used to, and Indy incomes have had a hard time keeping up over the past two decades.

By the numbers: Indianapolis' home price-to-income ratio has been steadily climbing since 1990, when the median home price was 2.3 times the median income.

• The ratio reached 3:1 for the first time in 2018 and hit a peak in 2022, when the median home price was 3.9 times the median income.

The big picture: The national median sales price for existing single-family homes last year was 4.9 times the median household income, Harvard researchers from the Joint Center for Housing Studies found.

The latest: Indianapolis-area home prices in October were up 4.3% when compared to the same time last year and sold for a median price of $240,000, per Redfin.

• Statewide, Hoosier homes saw a 6.4% year-over-year increase last quarter, the 13th-highest increase in the nation, according to the FHFA.

Keep reading

The first ever 12-team College Football Playoff field is officially set.

Why it matters: The first round of the postseason kicks off with a huge in-state matchup between the best two college football teams in Indiana. 

• The 10th seed Indiana Hoosiers will head to South Bend to battle the 7th seed Notre Dame Fighting Irish on Dec. 20 at 8pm on ESPN/ABC.

The big picture: This marks the first year of expansion from four to 12 teams for the CFP during a college football season that saw no shortage of drama.

State of play: No. 1 Oregon (Big Ten), No. 2 Georgia (SEC), No. 9 Boise State (Mountain West) and No. 12 Arizona State (Big 12), respectively, locked up the top four seeds as the highest ranked conference champs, securing first round byes in the process.

• ACC champion No. 16 Clemson grabbed the 12th seed.

The rest of the matchups

🚂 Purdue University has hired UNLV's Barry Odom as the new Boilermakers head football coach. (IndyStar)

🦐 Westfield resident Joey Chestnut set a new world record and reclaimed his title by eating 21 pounds of shrimp in eight minutes on Saturday. (WTHR)

⚖️ Netflix has been ordered to pay $385,000 to an Indiana woman it identified as a child of fertility doctor Donald Cline. (FOX59)

🚨 The Indiana Democratic Party's central committee has adopted a code of conduct and will form an ethics committee to combat sexual harassment. (Indiana Capital Chronicle) 

🏫 Indiana schools are ramping up cybersecurity to protect student data. (WFYI)

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✌🏿 Justin here!

My Indy hot wing adventure continues this week by swapping the deep fryer for the slow smoker.

Wings of the week: Fat Dan's Deli.

What I ordered: Traditional bone-in with FD's Hot Sauce, blue cheese and a side of tater tots.

My take: 4.5 out of 5 flats.

• They score big points for size. Both during this trip — and several past trips — the wings are bigger on average than what I typically get from other spots.
• But there is a bit of a DIY element. The sauce comes on the side instead of coating the wings.
• The upside of having them served up sauceless means equal spotlight is given to the wing itself. And the skin, dry rubbed in spices and hickory smoked for three hours, really shines.

Zoom in: Credit to FD's Hot Sauce for actually bringing some kick.

• The sauce leaves a nice, punchy impression without getting in the way. It lands somewhere between a 5 and 6 on my personal 10-point spice scale.

Real cost per wing: A small order gets you five wings for $11, putting the meal in line with the $2 per wing price that has emerged as the standard on my tour.

If you go