Cheap Homes in Gary, IN

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Gary, IN Foreclosures

How much do homes sell for in Gary, IN?
The average home price is currently $89,878.
In Gary, IN, how many homes are available?
There are currently 33,652 active home listings available in Gary.
What’s the average rental cost in Gary, IN?
The average rental price in Gary is $979.
What is the most expensive home in Gary, Indiana?
The most expensive home sold in Gary had a price of $2,690,610.
What is currently the cheapest priced home in Gary, IN?
The cheapest home for sale in Gary is priced at $9,936.

Home Value Estimator For Gary, IN

There are currently 33,652 real estate properties in Gary, IN, with a median automated valuation model (AVM) price of $66,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Gary, IN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Gary, IN, is $89,878.00, with the most expensive house in Gary, IN, topping out at $2,690,610.00 and the cheapest home in Gary, IN, clocking in at $9,936.00. In other words, there’s something for every potential homebuyer or savvy investor in Gary, IN!

Rent Prices In Gary, IN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Gary, IN, is on a rollercoaster ride. The average rent price in Gary, IN, is $979.00. Indeed, when looking to rent in Gary, IN, you can expect to pay as little as $610.00 or as much as $2,740.00, with the average rent median estimated to be $950.00. The good news is that finding an affordable and desirable property to rent in Gary, IN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Gary, IN In 2024

Gary is located in Lake, Indiana, with an estimated municipal population of 74,879 residents. All of the best foreclosed homes for sale in Gary are located in the following zip code areas on 46409 46408 46407 46406 46405 46404 46403 46402. The estimated population per square kilometer (.62 miles) in Gary is 581.

Cost Of Living In Gary, IN

So, about how much do homes cost in Gary? The most recent median value of resident-owned homes in Gary is 66,270. An estimated 50.6 percent of households in Gary own their homes, with an average family size of 3.15. The median household income in Gary is 31,936, with8.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Gary, the median commute time of resident workers (in minutes) is 28.8. And last, but certainly not least, are you looking for homes to rent in Gary? If so, the average rent price paid by renters in Gary is 785, according to recent statistics.

Diversity And Demographics In Gary, Indiana

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Gary, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Gary is 39, split between 46 percent male versus 54 female. The percentage of residents who report being married in Gary is 27, with an average family size of 3.15.

The percentage of residents who report their race in Gary is as follows:

White 15.3%
Black / African American 78.5%
Asian 0.2%
American Indian / Alaskan Native 0.1%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 2.9%
Other 3%

Looking for family-friendly neighborhoods in and/or near Gary? Or maybe you are searching for 55+ active adult communities in and/or near Gary?

The percentage of residents who report their age in Gary is as follows:

Under 10 13.3%
Aged 10-19 12.9%
20s 12.8%
30s 11.8%
40s 10.4%
50s 13.4%
60s 12.8%
70s 7.9%
80+ 4.4%

Best Schools In Gary, Indiana

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Gary with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Gary.

Pros And Cons Of Living In Gary, Indiana

How do you know that living in -- or moving to -- Gary is right where you need to be? Perhaps you grew up in Gary or already live nearby; therefore, the decision to buy a home in Gary is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Gary for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Gary:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Gary.

Reasons To Move To Gary, Indiana, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Gary can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Gary, meanwhile, can field multiple offers from more qualified buyers.

Cheap Homes in Gary, IN


Listing types in Gary, IN

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