Cost of Living in Gary, IN

With a cost of living index of 72, Gary, IN is one of the most affordable cities in the country. Living here is 28% cheaper than the national average and 6% below the Indiana state average of 78. With a population of 68,604, Gary is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Gary's cost of living. The median monthly rent is $975 (26% below the US median of $1,319), and the median home value sits at $85,300 (72% below the national median of $304,900). At current prices, the median home costs roughly 2.3x the median household income — well within traditional affordability guidelines.

The median household income in Gary is $37,380, which is 50% lower than the national median of $75,149. Residents spend roughly 31% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Everyday prices in the Chicago-Naperville-Elgin, IL-IN (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.