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City · 68,113 residents · Lake County, Indiana

Gary , Indiana

In Gary, a typical home is worth $94,700 and typical rent is $1,012 a month. Compared with all of Lake County, the typical home value is 59% lower, typical household income is 46% lower, and the share of households that own their home is 23 points lower.

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  • Typical home value

    $94,700

    59% below the county

    57% below Indiana

    • Gary
    • Lake
    • Indiana

  • Typical rent

    $1,012a month

    11% below the county

    5% below Indiana

    • Gary
    • Lake
    • Indiana

  • Typical household income

    $38,731a year

    46% below the county

    46% below Indiana

    • Gary
    • Lake
    • Indiana

  • Households that own their home

    49%

    23 points below the county

    22 points below Indiana

    • Gary
    • Lake
    • Indiana

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$87,485
0.9% less than 12 months ago
Typical rent
$1,367 a month
4.9% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Gary is in Lake County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Lake County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Gary apart

What this place has that others do not, from public data, most unusual first.

  1. Gary has the 3rd lowest typical household income of the 134 cities in Indiana with more than 5,000 people ($38,731).

  2. The typical home in Gary is worth $94,700, 59% less than in Lake County as a whole ($230,600).

  3. 49% of households in Gary own their home, against 72% in Lake County.

  4. According to Zillow, in the 12 months to September 2026 the typical home value in Gary fell 0.9%; in Indiana, it rose 2.9%.

  5. 14% of households in Gary have no internet at home (8% in Lake County).

  6. Gary has the 11th largest share of rent-burdened renters of the 120 cities in Indiana with more than 5,000 people (59%).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Gary

What homes there are in Gary, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is the most common home in Gary: 72% of homes, near the figure in Lake County (71%).

Year built

Homes in Gary are older: the typical year built is 1957; in Lake County, 1968.

Homes in Gary are smaller: 55% have 3 bedrooms or more; in Lake County, 64%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

With an FHA limit of $541,287, at least 98% of owner-occupied homes in Gary sit below it: they are worth less than $500,000.

Monthly rent with utilities

By rent, most homes in Gary cost less than HUD's 2-bedroom fair market rent ($1,429): about 86%.

With a mortgage

$1,175 a month

Lake County: $1,529 a month

Without a mortgage

$509 a month

Lake County: $569 a month

Owners with a mortgage

38%

Lake County: 63%

In Gary, 38% of owners have a mortgage, and their typical cost is $1,175 a month, against $1,529 in Lake County. Without one it drops to $509.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Gary rose 43% since 2015–2019, less than in Lake County (54%).

Rents in Gary rose at about the same pace as in Lake County: 29% since 2015–2019, against 28%.

Housing prices ran ahead of income in Gary: typical income rose 21%, against +43% for home values and +29% for rent.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureGaryLake CountyIndianaUnited States
Rental vacancy 7.0%5.1%5.6%5.5%
Homeowner vacancy 1.3%0.6%0.8%0.9%
More than one person per room 3.7%2.3%1.8%3.4%
People per household 2.482.542.462.53
Drive alone 75%80%76%69%
Carpool 13%8%9%9%
Public transit 2%1%1%3%
Walk or bike Unreliable estimate1%2%3%
Work from home 7%8%11%15%
Other means 3%1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

The rental vacancy rate in Gary is 7.0%, higher than in Lake County (5.1%).

More than one person per room: that is how 3.7% of households in Gary live, more than in Lake County (2.3%).

A household in Gary has 2.48 people on average, about the same as in Lake County (2.54).

In Gary, 13% of workers share a car to get to work; in Lake County, 8%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Gary?

A typical home is within reach of the typical income

We start with a typical home in Gary, worth $94,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 24% of the typical household income in Gary, which is $38,731 a year.

The calculator's FHA and conventional loan limits are those of all of Lake County.

Your numbers

Local data
$

Starts at the typical home value in Gary. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $3,315 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$788

at 7.18% · 30 years

Loan amount
$92,984
Total interest
$133,783
Paid off in
November 2056

Includes $1,599 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $904 a month

    Your payment · 24%

  • Tight

    $904 to $1,162 a month

  • Hard

    more than $1,162 a month

Compared with the typical household income in Gary ($38,731 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$788
Principal & interest$630
Property tax$77
Home insurance$40
FHA mortgage insurance (MIP)$42

You need at least $3,315 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Gary and Lake County

Gary is in Lake County, Indiana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Gary's own numbers

Typical home value
$94,700
Typical monthly rent
$1,012
Typical yearly household income
$38,731
Households that own their home
49%
Effective property tax rate
0.97%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Lake County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,429
Price change over 5 years (FHFA)
+48%
Homes in a high flood-risk zone
1.1%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Lake County.

Everything about Lake County

Buying

Buying a home in Gary

A typical home in Gary is worth $94,700: 59% below the county and 57% below Indiana. With the typical household income in Gary ($38,731 a year), a typical home costs 2.4 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Gary 2.4 years
  • Lake 3.2 years
  • Indiana 3.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Lake County

According to FHFA’s house price index, home prices in Lake County rose 82% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Lake County.

Period County Indiana U.S.
Last year (2025) +3.2% +4.3% +2.9%
5 years (2020–2025) +48% +53% +47%
10 years (2015–2025) +82% +95% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Gary next to Lake County, Indiana and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Gary $94,700
  • Lake $230,600
  • Indiana $218,200
  • United States $332,700
Typical monthly rent
  • Gary $1,012
  • Lake $1,131
  • Indiana $1,062
  • United States $1,413
Typical yearly household income
  • Gary $38,731
  • Lake $71,493
  • Indiana $71,957
  • United States $80,734
See the full table
Gary next to Lake County and Indiana
Measure Gary Lake County Indiana U.S.
Typical home value $94,700 $230,600 $218,200 $332,700
Typical monthly rent $1,012 $1,131 $1,062 $1,413
Typical yearly household income $38,731 $71,493 $71,957 $80,734
Households that own their home 49% 72% 71% 65%
Typical yearly property tax $915 $2,112 $1,614 $3,119
Effective property tax rate 0.97% 0.92% 0.74% 0.94%
Renters with high rent for their income 59% 52% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Lake County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Gary

For a typical $94,700 home in Gary, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Gary's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $788a month

    Least cash to close
    Down payment
    $3,315
    Cash to close
    $6,156
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $42

  • Conventional, 5% down $770a month

    Down payment
    $4,735
    Cash to close
    $7,576
    Rate
    7.18%
    Mortgage insurance
    PMI · $45

  • Conventional, 20% down, no PMI $629a month

    Down payment
    $18,940
    Cash to close
    $21,781
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $717a month

    Down payment
    $14,205
    Cash to close
    $17,046
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Gary and for Lake County.

Property tax

Effective rate in Gary

0.97%of the home’s value each year

$915 a year for the typical owner in Gary.

  • Gary 0.97%
  • Lake 0.92%
  • Indiana 0.74%

What Indiana publishes Homestead standard deduction: the amount drops each year (Indiana Department of Local Government Finance (DLGF), Form HC10)

Exemptions and deadlines in Indiana

Flood risk in Lake County

FEMA does not publish these numbers by city: they are for all of Lake County.

Homes in the high-risk zone
1.1%
2,019
Of those, with NFIP insurance
26%
County Indiana U.S.
Homes in the high-risk zone 1.1% 2.3% 3.5%
Of those, with NFIP insurance 26% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Gary

Typical rent in Gary is $1,012 a month: 11% below the county. In Gary, 59% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Lake County, by unit size. To pay the 2-bedroom one ($1,429 a month) without spending more than 30% of your income, you would need to earn $27.48 an hour working full time.

HUD fair market rent for all of Lake County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,117 $21.48 $44,680
1 bedroom $1,176 $22.62 $47,040
2 bedrooms $1,429 $27.48 $57,160
3 bedrooms $1,739 $33.44 $69,560
4 bedrooms $1,898 $36.50 $75,920

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Gary

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Gary has 7 ZIP codes with their own.

For 2 bedrooms it runs from $1,150 in 46407 to $1,490 in 46409.

1 of the 7 is above the fair market rent for Lake County ($1,429).

  • 46402 $1,260$1,530
  • 46403 $1,220$1,480
  • 46404 $1,300$1,580
  • 46406 $1,260$1,530
  • 46407 $1,150$1,400
  • 46408 $1,330$1,620
  • 46409 $1,490$1,810

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Gary when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Gary

HUD lists 38 buildings with rents for lower incomes in Gary. These are the largest.

  • Oak Knoll Renaissance Apartments 4401 W 23rd Ct, Gary 46404 256 low-income homes · For families (219) 977-8420
  • Oak Knoll Renaissance Apts 4200 W 23rd Ave, Gary 46404 256 low-income homes · 1 bd: 28 · 2 bd: 102 · 3 bd: 102 · 4 bd: 24 · In service since 1995
  • Gary Nsa I & II 1735 W 5th Ave, Gary 46404 249 low-income homes · For families (219) 882-7797
  • Gary Nsa III 1730 W 5th Ave, Gary 46404 222 low-income homes · For families (219) 882-7797
  • Park Shore Commons 860 N Wells St, Gary 46403 246 homes, 202 low-income · For families (219) 938-4320

See all 83 buildings in Lake County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Gary

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 3 HUD-approved agencies with an office in Lake County; 1 says it serves in Spanish.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Gary

No down payment, repair or rent-help program on our list is for Gary or Lake County. The ones below are statewide in Indiana: they work in Gary the same as in the rest of the state.

Which programs do I qualify for? All programs in Indiana

  • Next Home

    Statewide in Indiana

    Indiana state agency program with down payment assistance of 2.5% or 3.5% of the price, alongside a 30-year FHA or conventional mortgage. Offered by Indiana Housing and Community Development Authority (IHCDA).

    Type not stated

    See the program Official page

  • First Step

    Statewide in Indiana

    Indiana state agency 30-year FHA or conventional mortgage for first-time buyers (or homes in designated areas), with down payment assistance as a second mortgage with no interest or payments, repaid when the first mortgage ends. Offered by Indiana Housing and Community Development Authority (IHCDA).

    Deferred

    See the program Official page

Housing counselors near Gary

The HUD-approved agencies closest to the center of Gary, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • City of Gary Department of Community Development

    401 Broadway, Gary · 1 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (219) 881-5075

  • HOUSING OPPORTUNITIES, INC dba CoACTION

    5240 Fountain Dr, Crown Point · 9 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (800) 826-7871

  • Northwest Indiana Reinvestment Alliance

    5233 Hohman Ave Ste 104, Hammond · 9 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (219) 750-1206

Every agency in Lake County All counseling agencies in Indiana

Help in Spanish near Gary

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Gary

HUD’s record names them for Gary or Lake County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the City of Gary Indiana Public housing and Section 8 vouchers (219) 881-6422

2 other authorities have an office in Lake County: see the list Source: HUD

Cities

Other cities in Lake County

These cities are also in Lake County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Lake County Housing in Indiana
See 5 more cities in Lake County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Gary, with the typical home value.

Neighboring counties

If Lake County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Gary.

All guides
A mother smiles as she carries her young daughter on her shoulders (black and white).

Questions

Housing questions about Gary

Short answers with the numbers for Gary and all of Lake County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Gary?

The typical home value in Gary is $94,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Lake County it is $230,600.

How much does it cost to rent in Gary?

Typical rent in Gary is $1,012 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Lake County is $1,429.

What is the FHA loan limit in Gary?

Gary uses the FHA limit for all of Lake County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Gary?

The typical homeowner in Gary pays $915 a year, according to the U.S. Census Bureau. That is 0.97% of the home’s value; in Lake County, the rate is 0.92%.

Where can I find free help to buy or rent in Gary?

There are 3 HUD-approved counseling agencies with an office in Lake County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).