In Merrillville, a typical home is worth $211,400 and typical rent is $1,282 a month. Compared with all of Lake County, typical rent is 13% higher and the typical home value is 8% lower.
Typical home value from Zillow, September 2021 to September 2026: from $200,413 to $242,415.
Typical rent
$1,562a month
▲ 3.9% more than 12 months ago
Typical rent from Zillow, December 2021 to September 2026: from $1,311 to $1,562.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Merrillville 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
What this place has that others do not, from public data, most unusual first.
1
Nearby, in Ross, the typical home value is $119,100: 44% less than in Merrillville ($211,400).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Merrillville
What homes there are in Merrillville, 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
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Merrillville
Lake County
Indiana
United States
Kind of home: Merrillville and its comparisons
Measure
Merrillville
Lake County
Indiana
United States
Detached house
61%
71%
73%
61%
Attached house
9%
8%
4%
6%
Building of 2 to 4
4%
7%
6%
8%
Apartments (5 or more)
25%
13%
13%
19%
Mobile home
Unreliable estimate
2%
4%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
The detached house is still the most common home in Merrillville, but it weighs less than in Lake County: 61% against 71%.
Year built
Before 19601960–19791980–19992000–20092010 or later
Merrillville
Lake County
Indiana
United States
Year built: Merrillville and its comparisons
Measure
Merrillville
Lake County
Indiana
United States
Before 1960
17%
39%
31%
26%
1960–1979
35%
27%
24%
24%
1980–1999
24%
16%
23%
25%
2000–2009
17%
11%
12%
14%
2010 or later
7%
7%
10%
11%
Here half of the homes date from 1979 or later; in Lake County, from 1968 or later.
By size, homes in Merrillville look like those in Lake County: 61% have 3 bedrooms or more.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K8%
$100K–$200K36%
$200K–$300K41%
$300K–$500K14%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Merrillville and its comparisons
Measure
Merrillville
Under $100K
8%
$100K–$200K
36%
$200K–$300K
41%
$300K–$500K
14%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
With an FHA limit of $541,287, at least 99% of owner-occupied homes in Merrillville sit below it: they are worth less than $500,000.
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $50010%
$500–$99910%
$1,000–$1,49941%
HUD fair market rent, 2 bedrooms: $1,429
$1,500–$1,99924%
$2,000–$2,49913%
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Merrillville and its comparisons
Measure
Merrillville
Under $500
10%
$500–$999
10%
$1,000–$1,499
41%
$1,500–$1,999
24%
$2,000–$2,499
13%
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
About 55% of rented homes in Merrillville cost less than HUD's 2-bedroom fair market rent for Lake County ($1,429); the rest cost more.
With a mortgage
$1,469 a month
Lake County: $1,529 a month
Without a mortgage
$528 a month
Lake County: $569 a month
Owners with a mortgage
70%
Lake County: 63%
The typical cost for an owner with a mortgage in Merrillville is $1,469 a month, near the figure in Lake County ($1,529).
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Merrillville+55%
Lake County+54%
Indiana+54%
United States+53%
Typical rent
Merrillville+19%
Lake County+28%
Indiana+29%
United States+33%
Typical household income
MerrillvilleNo clear change
Lake County+27%
Indiana+28%
United States+29%
Change since 2015–2019: Merrillville and its comparisons
Measure
Merrillville
Lake County
Indiana
United States
Typical home value
+55%
+54%
+54%
+53%
Typical rent
+19%
+28%
+29%
+33%
Typical household income
No clear change
+27%
+28%
+29%
From 2015–2019 to 2020–2024, home values in Merrillville rose at about the same pace as in Lake County: 55% against 54%.
Since 2015–2019, the typical rent in Merrillville rose 19%, less than in Lake County (28%).
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Merrillville and its comparisons
Measure
Merrillville
Lake County
Indiana
United States
Rental vacancy
Unreliable estimate
5.1%
5.6%
5.5%
Homeowner vacancy
Unreliable estimate
0.6%
0.8%
0.9%
More than one person per room
Unreliable estimate
2.3%
1.8%
3.4%
People per household
2.32
2.54
2.46
2.53
Drive alone
82%
80%
76%
69%
Carpool
5%
8%
9%
9%
Public transit
2%
1%
1%
3%
Walk or bike
Unreliable estimate
1%
2%
3%
Work from home
7%
8%
11%
15%
Other means
2%
1%
1%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Fewer people live in each home here: 2.32 on average, against 2.54 in Lake County.
To get to work, 82% of workers in Merrillville drive alone; in Lake County, 80%.
Do the math
What would you pay each month for a home in Merrillville?
A typical home is tight for the typical income
We start with a typical home in Merrillville, worth $211,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 31% of the typical household income in Merrillville, which is $67,587 a year. For that payment to be 28% of income, a household would need to earn about $74,464 a year.
The calculator's FHA and conventional loan limits are those of all of Lake County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Merrillville. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $7,399 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,737
at 7.18% · 30 years
Loan amount
$207,571
Total interest
$298,646
Paid off in
November 2056
Includes $3,570 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,577 a month
Tight
$1,577 to $2,028 a month
Your payment · 31%
Hard
more than $2,028 a month
Compared with the typical household income in Merrillville ($67,587 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,406
Property tax
$150
Home insurance
$88
FHA mortgage insurance (MIP)
$94
You need at least $7,399 for the down payment, plus closing costs.
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.
Total monthly payment $1,737; principal and interest $1,406.
The city and its county
Merrillville and Lake County
Merrillville 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).
Merrillville
Map of Lake County, Indiana, with Merrillville marked. Around it, the neighboring counties.
Merrillville
Lake County
Other cities with a page
Merrillville's own numbers
Typical home value
$211,400
Typical monthly rent
$1,282
Typical yearly household income
$67,587
Households that own their home
70%
Effective property tax rate
0.85%
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.
A typical home in Merrillville is worth $211,400: 8% below the county and 3% below Indiana. With the typical household income in Merrillville ($67,587 a year), a typical home costs 3.1 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.
Merrillville3.1 years
Lake3.2 years
Indiana3.0 years
United States4.1 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.
Yearly change in FHFA’s price index in Lake County, 2016 to 2025
2016: +2.6% +2.6% 2016
2017: +4.0% +4.0% 2017
2018: +5.9% +5.9% 2018
2019: +5.5% +5.5% 2019
2020: +3.7% +3.7% 2020
2021: +12.0% +12.0% 2021
2022: +14.3% +14.3% 2022
2023: +6.9% +6.9% 2023
2024: +4.7% +4.7% 2024
2025: +3.2% +3.2% 2025
Change in FHFA’s price index in Lake County, Indiana and the United States
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
Merrillville 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
Merrillville$211,400
Lake$230,600
Indiana$218,200
United States$332,700
Typical monthly rent
Merrillville$1,282
Lake$1,131
Indiana$1,062
United States$1,413
Typical yearly household income
Merrillville$67,587
Lake$71,493
Indiana$71,957
United States$80,734
See the full table
Merrillville next to Lake County and Indiana
Measure
Merrillville
Lake County
Indiana
U.S.
Typical home value
$211,400 ▼8% below the county
$230,600
$218,200
$332,700
Typical monthly rent
$1,282 ▲13% above the county
$1,131
$1,062
$1,413
Typical yearly household income
$67,587 ▼5% below the county
$71,493
$71,957
$80,734
Households that own their home
70% ▼1 points below the county
72%
71%
65%
Typical yearly property tax
$1,805 ▼15% below the county
$2,112
$1,614
$3,119
Effective property tax rate
0.85% ▼0.07 points below the county
0.92%
0.74%
0.94%
Renters with high rent for their income
57% ▲5 points above the county
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 Merrillville
For a typical $211,400 home in Merrillville, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Merrillville's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,737a month
Least cash to close
Down payment
$7,399
Cash to close
$13,741
Rate
7.18%
Mortgage insurance
FHA MIP · $94
Conventional, 5% down$1,699a month
Down payment
$10,570
Cash to close
$16,912
Rate
7.18%
Mortgage insurance
PMI · $100
Conventional, 20% down, no PMI$1,384a month
Down payment
$42,280
Cash to close
$48,622
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,579a month
Down payment
$31,710
Cash to close
$38,052
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Merrillville
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,737
$7,399
$207,571
7.18%
FHA MIP · $94
$13,741
580
Conventional, 5% down
$1,699
$10,570
$200,830
7.18%
PMI · $100
$16,912
620*
Conventional, 20% down, no PMI
$1,384
$42,280
$169,120
7.18%
None
$48,622
620*
ITIN, 15% down (example)
$1,579
$31,710
$179,690
8.18%
None
$38,052
Set by the lender
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.
Typical rent in Merrillville is $1,282 a month: 13% above the county. In Merrillville, 57% 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.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Lake County (Fiscal year 2027)
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 Merrillville
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Merrillville has 2 ZIP codes with their own.
For 2 bedrooms it runs from $1,650 in 46307 to $1,760 in 46410.
2 of the 2 are above the fair market rent for Lake County ($1,429).
Fair market rent by ZIP code and size in Merrillville, fiscal year 2027.
46307
$1,290
$1,360
$1,650
$2,010
$2,190
46410
$1,380
$1,450
$1,760
$2,140
$2,340
ZIP code2 bd3 bd
46307 $1,650$2,010
46410 $1,760$2,140
2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Merrillville 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 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
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.
No down payment, repair or rent-help program on our list is for Merrillville or Lake County. The ones below are statewide in Indiana: they work in Merrillville the same as in the rest of the state.
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).
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).
The HUD-approved agencies closest to the center of Merrillville, in a straight line, nearest first. If one says it serves in Spanish, its card says so.
No legal help resource on our list is for Merrillville or Lake County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Merrillville 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 Merrillville?
The typical home value in Merrillville is $211,400, 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 Merrillville?
Typical rent in Merrillville is $1,282 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 Merrillville?
Merrillville 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 Merrillville?
The typical homeowner in Merrillville pays $1,805 a year, according to the U.S. Census Bureau. That is 0.85% of the home’s value; in Lake County, the rate is 0.92%.
Where can I find free help to buy or rent in Merrillville?
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.
