The story of this market
The typical home in ZIP 46409 sells for about $125,000, or $95 per square foot.
Prices are down 3.8% from a year ago, which gives buyers more room to negotiate. Homes take about 58 days to sell. HUD's fair market rent for a two-bedroom is $1,012 a month.
This ZIP has no home sales of its own, so its market figures come from Gary, Indiana (city-level). Population, rents, hazards, lending and amenities are this ZIP's own readings.
ZIP 46409 — Gary
The 46409 housing market is currently experiencing significant downward price pressure, with median sale prices falling 25.2% year-over-year to $61,550. High vacancy rates and economic challenges in the broader Gary area continue to drive a market that is heavily reliant on investor-led renovation activity. Sales volume has contracted sharply, reflecting a cautious environment for both buyers and sellers.
This ZIP is primarily suited for real estate investors and rehabbers looking for low-entry-price properties, as well as budget-conscious renters seeking affordable housing.
Median prices moved down 3.8% year over year.
Homes spend a median of 58 days on market with 5.3 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97.88% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 12.4% · poverty 30.0% — elevated distress and economic pressure.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 46409, 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.
Public schools in the area generally receive low ratings, with many institutions in the district scoring 1 out of 10.
The area is characterized by a focus on value-add real estate investment and renovation of older housing stock, though broader economic momentum remains limited.
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.
Residents primarily rely on personal vehicles for commuting, with access to regional highway corridors connecting to the broader Gary and Northwest Indiana employment hubs.
The area features local neighborhood parks and proximity to the broader recreational amenities of Gary, including access to regional shopping and dining districts within a short drive.
The rental market is characterized by a high renter share of approximately 55%, with rent levels supported by demand for affordable housing options.
The local economy is heavily influenced by the broader Gary industrial and service sectors, with a significant focus on residential real estate revitalization.
Transportation is primarily highway-dependent, with regional infrastructure supporting commutes into the Gary urban core.
Development activity is largely focused on individual property renovations rather than large-scale master-planned projects.
Parcels are subject to standard municipal and county-level taxing districts, including local school and utility service areas.
Data retrieved from Census Bureau ZCTA profiles and local market reports.
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 Waterpark4.37.3 mi
- Ninja Kidz Action Park Hammond, IN4.97.2 mi
- The Salvation Army Ray and Joan Kroc Corps Community Center Chicago4.519.2 mi
- Up Your Alley3.98.2 mi
- Urban Air Trampoline and Adventure Park4.45.4 mi
- County Line Orchard4.35.5 mi
- Lighthouse Restaurant4.713.3 mi
- Ravisloe Country Club4.518 mi
- Lake County Fairgrounds4.610.2 mi
- The American Factory by Journeyman Distillery4.114.6 mi
- Emagine Portage4.68.6 mi
- The Shrine of Christ's Passion4.811.1 mi
- Deep River Waterpark4.37.3 mi
- Ninja Kidz Action Park Hammond, IN4.97.2 mi
- AMC Schererville 164.18.4 mi
- South Shore Cultural Center4.619.7 mi
- Pullman National Historical Park4.717.8 mi
- 1933 Chicago World's Fair Century of Progress Homes4.619.4 mi
- Buckley Homestead County Park4.818.5 mi
- Homewood Science Center4.817.6 mi
- Indiana Dunes National Park West Beach Bath House4.68.3 mi
- Portage Lakefront & Riverwalk4.69.7 mi
- Lemon Lake County Park4.511.9 mi
- Centennial Park, Munster,IN4.69.3 mi
- Bulldog Park4.59.2 mi
- Hammond Marina4.414.1 mi
- Crowley's Yacht Yard LLC4.416.5 mi
- East Chicago Marina4.49.6 mi
- Pier 11 Marina4.615.8 mi
- Marina Shores at Dune Harbor4.69.2 mi
- Lost Marsh Golf Course4.112.3 mi
- White Hawk Country Club4.68 mi
- Wicker Memorial Park4.67.9 mi
- Innsbrook Country Club4.63.8 mi
- Briar Ridge Country Club4.68.9 mi
- Southlake Mall4.15.4 mi
- Meijer4.25.4 mi
- Meijer4.27.7 mi
- Meijer4.37.5 mi
- Jewel-Osco4.18 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Small community green spaces serving the immediate residential area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass. Coherence hold-out: this pass's median price ($61,550) sat outside the 0.25–4× band around Lake County's retained level and was not stored.