Gary, IN

Very Low · 52

Indiana · Population 68,604 · Updated March 2026

$975
Median Rent / Month
$37,380
Median Income
$85,300
Median Home Value
$868
Owner Costs / Month

Affordability

How far your income goes in Gary

31.3%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Indiana

State-level tax rates that affect your costs

3.05%
Income Tax (Top Rate)
7.0%
Sales Tax
0.83%
Property Tax Rate

Estimated Annual Costs

$11,700
Annual Rent
$1,140
State Income Tax
$708
Property Tax (est.)

Cost of Living Overview

Gary is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 52 (where 100 equals the national median), Gary residents can expect to pay median rent of $975/month while earning a median household income of $37,380/year.

The median home value in Gary, IN is $85,300, with typical monthly owner costs around $868 including mortgage, insurance, and taxes. At 31.3% rent-to-income ratio, residents of Gary are spending more than the recommended 30% of income on housing, indicating moderate cost burden.

Indiana has a moderate income tax rate of 3.05%. Combined with a 7.0% sales tax rate and 0.83% effective property tax rate, the overall tax environment is a factor in the total cost of living in Gary.

Frequently Asked Questions

Common questions about living costs in Gary

What is the cost of living in Gary, IN?
The cost of living index in Gary, IN is 52 (US average = 100). Median monthly rent is $975, median household income is $37,380/year, and the median home value is $85,300.
Is Gary, IN affordable?
Yes, Gary is more affordable than the national average with a cost index of 52. The rent-to-income ratio is 31.3%—above the 30%% affordability threshold.
What is the average rent in Gary, IN?
The median gross rent in Gary, IN is $975 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,700.
What is the median household income in Gary?
The median household income in Gary, IN is $37,380 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Indiana?
Indiana has a top income tax rate of 3.05%, a sales tax of 7.0%, and an effective property tax rate of 0.83%.