US5.com
  1. Home
  2. States
  3. Indiana
  4. ZIP 46408
  5. Housing & Real Estate
Gary city, IN

ZIP 46408 — 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 46408

Median Home Value
$96,200
Median Rent
$761
Affordability Snapshot
$26,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$618/mo PITI).

19%
Rent-to-Income Ratio

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

2.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

10.5 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 46408 in Gary city, IN, a household would need roughly $26,000 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 $618. That sits below the local median household income ($47,063), 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 23% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
60.3%-8% vs US avg
x
Vacancy Rate
23.3%+126% vs US avg
x
Broadband Access
86.3%-1% vs US avg
x
4+ Bedrooms
2.9%-80% vs US avg
x
Built Pre-1939
18.6%+45% vs US avg
x
Built Post-2014
0.7%-91% vs US avg
x
Rent Burden >30%
22.4%-55% vs US avg
x
Mortgage-Free
55.8%+46% vs US avg
x
$96,200
Home Value
$761
Rent
1954
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 detached82.0%
  • 1-unit attached1.2%
  • 2-9 units4.8%
  • 10+ units4.1%
  • Mobile home & other7.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$96,200
Median rent$761
Owner-occupied60.3%
Vacant23.3%
Price-to-income2.0x
Est. income to buy$26,000