46312, East Chicago, IN

East Chicago, Indiana is a small city located in Lake County. The population of East Chicago was just over 27,000 as of the 2010 census. The city is located on the south side of the Calumet River and is bordered by Hammond to the north, Gary to the east, and Michigan City to the west. East Chicago is home to several industrial plants and has been in decline for many years.

Home equity in East Chicago has been declining for many years. In 2007, home equity in East Chicago was $27 per square foot. By 2016 this had declined to $14 per square foot. This decline can be attributed to a number of factors including:

-The city's declining economy

-The fact that many homes were built before 1978 and have not been updated since then

-The high rate of foreclosure in East Chicago during the housing crisis

-The low rate of home ownership in East City

Despite these challenges, there are still some homeowners who are able to maintain their home equity. Home prices have also declined over time in East Chicago. As of 2016, median home prices were just over $50,000 which is much lower than prices seen 10 or even 5 years ago when values were closer to $100,000 or more.