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City Report · IN

Lake Station

Pop. 13,185·31st most expensive in Indiana·Rental market data updated monthly for Lake Station, IN
Median rent (all units)
$1,450/mo
Year-over-Year
Stable
Month-over-Month
+11.6%
vs US Median
-$515
Rising (Monthly)
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Most AffordableMost Expensive
Lake Station · $1,450
More affordable than 79% of US cities · National median $1,965/mo
Affordability
29% of income
AFFORDABLE
0%30% benchmark60%+

At $1,450/mo, rent takes about 29% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$58,000/yr
Local median income
$59,591/yr
Based on the 30%-of-income rule using Lake Station's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$890
1 BR
$1,020
2 BR
$1,240
3 BR
$1,530
4 BR+
$1,640
Research median
$1,240/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$17,400/yr
At $1,450/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +11.6% MoM), not inventory.
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Demographics

Who lives here

Lake Station, IN is majority owner-occupied, has a large share of families with children, has a median income below the national average, 7.4% of residents hold a bachelor's degree or higher.

Population
13,185
Median income
$59,591
Median age
33.5
Renters
28%
Age distribution
25.5%
26.7%
20.6%
14.8%
12.5%
Under 1825.5%
18–3426.7%
35–5420.6%
55–6414.8%
65+12.5%
Gender
52.5%
47.5%
Male52.5%
Female47.5%
Race & ethnicity
64.9%
32.8%
White64.9%
Black2.5%
Hispanic32.8%
Asian1.4%
Education (25+)
22.3%
49.1%
21.1%
No HS diploma22.3%
HS diploma49.1%
Some college21.1%
Bachelor's+7.4%
Housing tenure
72%
28%
Owner72%
Renter28%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Lake Station, IN has changed in 5 years

Income
$50,852 → $59,591
up 17.2%
Population
13,292 → 13,185
down 0.8%
Renter share
32.9% → 28%
-4.9 pts
Bachelor's+
8.3% → 7.4%
-0.9 pts
Median age
36.5 → 33.5
-3.0 yrs

Local incomes tracked alongside that move, going from a median of $50,852 in 2021 to $59,591 more recently. About 28% of households rent today, against 32.9% in 2021.

Community

Discussions about Lake Station

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View Lake Station rent history (2015–2026) →
Salary vs rent

Can you afford rent in Lake Station on your salary?

At $1,450/mo, how Lake Station rent compares to typical pay (30% rule).

By apartment size

Lake Station rent by bedroom count

Median rent for each apartment size in Lake Station. Click any size for full breakdown.

Local insights

Tips for renters in Lake Station

About renting in Lake Station, IN

Last updated: July 20, 2026

The median rent in Lake Station is $1,450/mo as of July 2026. A studio apartment averages $890/mo while a 2-bedroom runs $1,240/mo. One-bedroom apartments average $1,020/mo and 3-bedroom units go for $1,530/mo.

At 29% of local median household income ($59,591/yr), Lake Station ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Lake Station an affordable city for renters?

Lake Station is considered affordable for renters. At $1,450/mo, rent takes approximately 29% of the local median household income ($59,591/yr). The standard benchmark is 30%. Lake Station falls comfortably within that range.

How much income do you need to rent in Lake Station?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (~$28/hour full-time) to afford the median rent of $1,450/mo in Lake Station. The local median household income is $59,591/yr, meaning the typical Lake Station household meets that threshold.

Is rent going up or down in Lake Station?

Rent in Lake Station has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Lake Station rent compare to other cities in Indiana?

Lake Station is middle-of-the-pack for Indiana for rent, ranking #31 out of 65 tracked cities at $1,450/mo.

Which nearby cities are cheaper to rent in than Lake Station?

Several nearby cities have lower median rents than Lake Station ($1,450/mo): Gary ($1,366/mo), Hobart ($1,376/mo).

What percentage of Lake Station residents rent vs. own?

According to Census data, approximately 28% of Lake Station households are renters, while 72% are owner-occupied. Lake Station leans toward homeownership, which can mean a smaller rental inventory.

How does Lake Station rent compare to the national average?

Lake Station's median rent of $1,450/mo is $515 (26%) below the US national median of $1,965/mo. Within Indiana, it ranks #31 out of 65 tracked cities.
Income Affordability
29%
AFFORDABLE

At $1,450/mo, rent takes ~29% of Lake Station's median household income ($59,591/yr). The standard benchmark is 30%.

Lake Station 29%Benchmark 30%
State income tax3.05%
Run the Lake Station affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Lake Station, IN

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