Gary, IN vs Richmond, IN

Richmond is moderately more affordable than Gary, with a 9.5% lower cost of living index. Gary scores 72 compared to 66 for Richmond, where the US average is 100. This difference means residents of Gary can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Gary is $975/month compared to $815/month in Richmond — a 20% difference. Interestingly, home values tell a different story: while Richmond has cheaper rent, Gary actually has lower median home values ($85,300 vs $107,600).

Median household income in Gary is $37,380 compared to $46,395 in Richmond (-19.4%). Richmond offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Gary spend roughly 31.3% of their income on rent, more than the 21.1% in Richmond. The Richmond ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.