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Gary city, IN

ZIP 46402 — Housing & Real Estate

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

Low Income AreaLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 46402

Median Home Value
$61,200
Median Rent
$704
Affordability Snapshot
$17,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$393/mo PITI).

29%
Rent-to-Income Ratio

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

2.1x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

7.2 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 46402 in Gary city, IN, a household would need roughly $17,000 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 $393. That sits below the local median household income ($29,125), 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 34% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
37.9%-42% vs US avg
x
Vacancy Rate
34.3%+233% vs US avg
x
Broadband Access
62.1%-29% vs US avg
x
4+ Bedrooms
2.2%-85% vs US avg
x
Built Pre-1939
14.6%+14% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
26.5%-47% vs US avg
x
Mortgage-Free
62.9%+65% vs US avg
x
$61,200
Home Value
$704
Rent
1942
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

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

  • 1-unit detached56.1%
  • 1-unit attached7.8%
  • 2-9 units15.8%
  • 10+ units19.4%
  • Mobile home & other1.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$61,200
Median rent$704
Owner-occupied37.9%
Vacant34.3%
Price-to-income2.1x
Est. income to buy$17,000