INDIANAPOLIS -- Metal thefts are costing Indianapolis residents, businesses and churches close to $1 million a month, according to new statistics compiled by police and researchers at the University of Indianapolis.

The pilot study is a joint effort between the school and authorities to track metal thefts across the city and to help police identify areas that are hot spots for the crime, 6News' Jack Rinehart reported.

According to the report, there were 678 metal thefts between the beginning of January and the end of March, or about an average of seven a day. Thefts from homes accounted for just more than half of the crimes, while another 17 percent from vehicles, mostly in the form of catalytic converter thefts. Churches were also often targeted, the report showed.

Researchers said that statistics showed that people living on the city's northeast side were more likely to have their metal siding and air conditioners stolen, while people on the southwest side were more likely to have the catalytic converters stripped from their vehicles.

Pinpointing where the crimes are happening will help police develop better crime-fighting strategies, researchers said.

"You can focus it in on specific areas to address those problems that each neighborhood is dealing with rather than a blanket approach," said Kevin Whitearce, the main author of the study.

The report estimated that the average loss per metal theft victim was $4,300, while the crimes add up to about $1 million a month. Police said that they were glad to have a way to gauge just how big the problem really is.

"We all knew there was a problem but we really didn't have a handle on the magnitude and the scope of the problem, and I think this is going to help," said Indianapolis police Maj. Dave Allender.