46407, Gary, IN

The 46407 zip code of Gary, IN has a median home value of $128,000 and a median home equity value of $101,000. The homeowners in this zip code have an average credit score of 663 and an average debt-to-income ratio of 38%. This zip code is relatively affordable when compared to other areas in the state.

Home prices in the 46407 zip code have been increasing at a rate of 5.5% over the past year. This is slower than the statewide average growth rate of 7.1%, but it is still faster than the national average growth rate of 2%. There are several factors that may be contributing to this trend, including low interest rates and strong demand from buyers.

There are also some indications that the market may be cooling off slightly. Over the past twelve months, home values have increased by 3%, which is below the 4% increase seen over the previous twelve months. However, if you are looking to buy a home in this zip code now, you should expect to pay more than you would have six months ago – prices have increased by 8%.