The story of this market
The typical home in ZIP 46406 sells for about $122,000.
Prices are up +18.15% from a year ago, so sellers still have some momentum. Homes take about 52 days to sell. HUD's fair market rent for a two-bedroom is $995 a month.
ZIP 46406 — Gary
The housing market in ZIP 46406 is characterized by low price points and constrained inventory. The market is moving at a moderate pace, with limited active listings contributing to a balanced yet price-sensitive environment.
Primarily suited for local workforce and budget-conscious buyers seeking entry-level housing in the regional industrial corridor.
Median prices moved up 18.1% year over year.
Homes spend a median of 52 days on market with 2.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 85.8% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 10.6% · poverty 36.7% — elevated distress and economic pressure.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 46406, Lake County IN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is part of Gary, which historically faces significant challenges with crime rates that are consistently higher than the regional and national averages.
Schools serving this area generally receive low ratings on standard performance metrics, often falling into the C or lower range in public school assessments.
The region faces standard Midwestern weather risks; however, localized flood risks exist in parts of Gary near the lakefront and marshy drainage zones.
Development momentum is largely tied to regional industrial revitalization efforts in Northwest Indiana and the broader Chicago metropolitan economic sphere.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
Located in Northwest Indiana, residents typically commute toward Gary's industrial core or toward Chicago via highway/regional transit infrastructure.
Proximity to Lake Michigan shoreline, local community parks, and regional sports facilities in the broader Gary/Hammond area.
Limited rental inventory with a cool market temperature and relatively stable rental rates.
Industry mix is tied to steel, logistics, and manufacturing within the greater Chicago-Gary industrial corridor.
Access is provided via regional highway corridors and local transit infrastructure connecting to the broader Chicago metropolitan area.
No major high-profile developments reported specifically within 46406, though city-wide initiatives focus on blight removal and infrastructure updates.
Lake County utilizes a mass appraisal system with circuit-breaker caps on residential property tax liabilities.
Subject to Lake County and Gary Municipal tax levies, plus local school corporation assessments.
Standard residential coverage, though some areas may require specific flood insurance due to proximity to the Lake Michigan basin.
Data sourced from US Census Bureau and Data Commons.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Deep River Waterpark4.313.2 mi
- Ninja Kidz Action Park Hammond, IN4.93.1 mi
- In The Game Hollywood Park4.317.8 mi
- The Salvation Army Ray and Joan Kroc Corps Community Center Chicago4.513.6 mi
- Up Your Alley3.97.6 mi
- Rate Field4.619.5 mi
- Credit Union 1 Amphitheatre4.219.3 mi
- County Line Orchard4.310.8 mi
- Tinley Park Convention Center4.519.8 mi
- 115 Bourbon Street4.416.2 mi
- The Shrine of Christ's Passion4.812.6 mi
- Ninja Kidz Action Park Hammond, IN4.93.1 mi
- AMC Schererville 164.17.9 mi
- Access to West Beach - Indiana Dunes National Park4.510 mi
- Lynwood Sport Center4.29.6 mi
- Griffin Museum of Science and Industry4.715.8 mi
- Burnham Park Promontory Point4.815.9 mi
- Frederick C. Robie House4.716.1 mi
- DuSable Black History Museum and Education Center4.716.6 mi
- South Shore Cultural Center4.613.9 mi
- Indiana Dunes National Park West Beach Bath House4.610.6 mi
- Portage Lakefront & Riverwalk4.612.2 mi
- Big Marsh Park4.710.2 mi
- Wampum Lake4.59.7 mi
- Centennial Park, Munster,IN4.66.8 mi
- East Chicago Marina4.43.9 mi
- Harborside International Golf Center4.111.2 mi
- Lost Marsh Golf Course4.16.4 mi
- Glenwoodie Golf Club4.511.3 mi
- White Hawk Country Club4.611.5 mi
- Wicker Memorial Park4.64.6 mi
- Southlake Mall4.110.6 mi
- Meijer4.29.9 mi
- Meijer4.26.1 mi
- Meijer4.312.4 mi
- Jewel-Osco4.112 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Nearby natural attraction serving the region.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.