ZIP Code · IN

ZIP 46408

Part of Gary, IN

Pop. 15,747·Lake County·76th most expensive ZIP in Indiana

Median rent (all units)

$1,300/mo

Year-over-Year

+8.0%

Month-over-Month

+1.8%

vs US Median

-$632

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 46408 · $1,300

More affordable than 86% 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

$880

1 BR

$990

2 BR

$1,210

3 BR

$1,480

4 BR+

$1,600

Research median

$1,210/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: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Indiana

Rent in ZIP 46408 changed +8.0% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.

Recent direction

Rent has risen 2 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($47,453) is $1,186 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($990); a 2-bedroom is $1,210.

Cheaper nearby

ZIP 46312, 8 miles away, rents for 20% less ($1,040/mo), about $3,100 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 46408. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$15,600/yr

At $1,300/mo median

Location

CityGary

StateIN

CountyLake County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 8.0% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+8.0% YoY, +1.8% MoM), not inventory.

Demographics

Who lives here

ZIP 46408 (Gary, IN) is majority owner-occupied, has a large share of families with children, has a median income below the national average, 12.4% of residents hold a bachelor's degree or higher.

Population

15,747

Median income

$47,453

Median age

36.8

Renters

41.2%

Age distribution

28.4%

18.6%

23.9%

12%

17%

Under 1828.4%

18–3418.6%

35–5423.9%

55–6412%

65+17%

Gender

46.5%

53.5%

Male46.5%

Female53.5%

Race & ethnicity

36.7%

43.7%

22%

White36.7%

Black43.7%

Hispanic22%

Education (25+)

14.1%

44.1%

29.4%

12.4%

No HS diploma14.1%

HS diploma44.1%

Some college29.4%

Bachelor's+12.4%

Housing tenure

58.8%

41.2%

Owner58.8%

Renter41.2%

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

2021 vs 2026

How ZIP 46408 in Gary, IN has changed in 5 years

Income

$39,905 → $47,453

up 18.9%

Population

14,884 → 15,747

up 5.8%

Renter share

37.4% → 41.2%

+3.8 pts

Bachelor's+

11.1% → 12.4%

+1.3 pts

Median age

39.2 → 36.8

-2.4 yrs

Median household income grew from $39,905 to $47,453 between 2021 and 2024, a 18.9% shift. Headcount in the area went from 14,884 to 15,747 between 2021 and 2024, a 5.8% change. About 41.2% of households rent today, against 37.4% in 2021.

Community

Discussions about ZIP 46408

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Local insights

Tips for renters in ZIP 46408

About renting in ZIP 46408

Last updated: October 17, 2026

ZIP code 46408 covers Gary, IN. The median rent here is $1,300/mo as of October 2026. A 1-bedroom rents for a median of $990/mo. A 2-bedroom rents for a median of $1,210/mo.

At 33% of local median household income ($47,453/yr), ZIP 46408 ranks as moderate compared to the national benchmark of 30%. Rents have increased 8.0% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46408?

To keep rent at or below 30% of gross income, you would need to earn at least $52,000/year (about $25/hour full-time) to afford the median rent of $1,300/mo in ZIP 46408. The local median household income is $47,453/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 46408?

Rent in ZIP 46408 has risen 8.0% over the past year.

How does ZIP 46408 compare to other ZIPs in Indiana?

ZIP 46408 is in the middle among Indiana ZIP codes for rent, ranking #76 of 139 at $1,300/mo. Over the year to September 2026, rent in ZIP 46408 changed +8.0%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.