ZIP Code · IN

ZIP 46404

Part of Gary, IN

Pop. 15,428·Lake County·62nd most expensive ZIP in Indiana

Median rent (all units)

$1,410/mo

Year-over-Year

+4.8%

Month-over-Month

+0.4%

vs US Median

-$522

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 46404 · $1,410

More affordable than 79% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$870

1 BR

$990

2 BR

$1,200

3 BR

$1,470

4 BR+

$1,590

Research median

$1,200/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: September 25, 2026

From the history

What the numbers show

Past year vs. the rest of Indiana

Rent in ZIP 46404 changed +4.8% over the year to August 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.7%.

Recent direction

Rent has risen 2 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($42,256) is $1,056 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($990); a 2-bedroom is $1,200.

Cheaper nearby

ZIP 46312, 6 miles away, rents for 26% less ($1,040/mo), about $4,400 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 46404. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$16,920/yr

At $1,410/mo median

Location

CityGary

StateIN

CountyLake County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.8% YoY, +0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 46404 (Gary, IN) is majority owner-occupied, has a large retiree population, has a median income below the national average, 15.4% of residents hold a bachelor's degree or higher.

Population

15,428

Median income

$42,256

Median age

39.4

Renters

43.6%

Age distribution

25.6%

20%

21.5%

21.1%

Under 1825.6%

18–3420%

35–5421.5%

55–6411.7%

65+21.1%

Gender

45.9%

54.1%

Male45.9%

Female54.1%

Race & ethnicity

90.4%

White1.4%

Black90.4%

Hispanic3.3%

Asian0.7%

Other4.1%

Education (25+)

34%

38.7%

15.4%

No HS diploma12%

HS diploma34%

Some college38.7%

Bachelor's+15.4%

Housing tenure

56.4%

43.6%

Owner56.4%

Renter43.6%

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

2021 vs 2026

How ZIP 46404 in Gary, IN has changed in 5 years

Income

$35,071 → $42,256

up 20.5%

Population

16,702 → 15,428

down 7.6%

Renter share

46.8% → 43.6%

-3.2 pts

Bachelor's+

15.4% → 15.4%

+0.0 pts

Median age

35.8 → 39.4

+3.6 yrs

Local incomes tracked alongside that move, going from a median of $35,071 in 2021 to $42,256 more recently. Census counts show ZIP 46404 in Gary, IN losing about 1,274 residents over the five-year window, down 7.6% on net. The renter share has eased from 46.8% to 43.6%, with owner-occupied housing accounting for the remainder.

Community

Discussions about ZIP 46404

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Local insights

Tips for renters in ZIP 46404

About renting in ZIP 46404

Last updated: September 25, 2026

ZIP code 46404 covers Gary, IN. The median rent here is $1,410/mo as of September 2026. A 1-bedroom rents for a median of $990/mo. A 2-bedroom rents for a median of $1,200/mo.

At 40% of local median household income ($42,256/yr), ZIP 46404 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46404?

To keep rent at or below 30% of gross income, you would need to earn at least $56,000/year (about $27/hour full-time) to afford the median rent of $1,410/mo in ZIP 46404. The local median household income is $42,256/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 46404?

Rent in ZIP 46404 has risen 4.8% over the past year.

How does ZIP 46404 compare to other ZIPs in Indiana?

ZIP 46404 is in the middle among Indiana ZIP codes for rent, ranking #62 of 140 at $1,410/mo. Over the year to August 2026, rent in ZIP 46404 changed +4.8%, against a typical +3.7% across the 114 Indiana ZIP codes Zillow tracks.