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Gary city, IN

ZIP 46406 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 46406

Median Home Value
$86,300
Median Rent
$826
Affordability Snapshot
$24,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$554/mo PITI).

28%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.4x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

8.7 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 46406 in Gary city, IN, a household would need roughly $24,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $554. That sits below the local median household income ($35,631), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 16% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
46.9%-28% vs US avg
x
Vacancy Rate
16.1%+57% vs US avg
x
Broadband Access
80.2%-8% vs US avg
x
4+ Bedrooms
2.8%-81% vs US avg
x
Built Pre-1939
11.1%-14% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
29.5%-41% vs US avg
x
Mortgage-Free
60.0%+57% vs US avg
x
$86,300
Home Value
$826
Rent
1963
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached74.0%
  • 1-unit attached3.0%
  • 2-9 units4.6%
  • 10+ units14.9%
  • Mobile home & other3.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$86,300
Median rent$826
Owner-occupied46.9%
Vacant16.1%
Price-to-income2.4x
Est. income to buy$24,000