Lake County, Indiana Housing Market Prices
Lake County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 25% below the Indiana median$107,473
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Median rent 7% above the Indiana median More expensive than 91% of counties in Indiana$1,132
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lake County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $107,473 | $142,738 | $248,835 |
| Price Trend (Annual %) | 3.9% | 7.2% | 7.5% |
| Median Gross Rent | $1,132 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lake County is about 25% lower than in Indiana. Rent is about 7% higher than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lake County, up about 3.9% and 4.0% a year respectively. Rent is changing faster.
Median rent in Lake County rose about 38.3% between 2015 and 2024, from $818 to $1,132. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Lake County.
Buying the median-priced home in Lake County costs roughly 7.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lake County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Lake County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $107,473 | $142,738 | $248,835 |
| Median Household Income | $71,540 | $71,967 | $80,455 |
| Price-to-Income Ratio | 1.5 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lake County rose about 12.0%, while median household income rose about 40.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lake County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.4% | 64.4% | 58.5% |
| Rental Rate | 25.4% | 26.9% | 31.2% |
| Vacancy Rate | 10.2% | 8.8% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Lake County has a homeownership rate of 64.4%, about the same as the Indiana average of 64.4%. Its housing vacancy rate is 10.2%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Lake County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1970 | 1975 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Lake County was built around 1970. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 16.0 years on average.
Lake County, IN Housing Compared With Nearby Counties
Lake County, IN is the 2nd largest of the 4 counties compared here, 498,291 residents against a local median of 174,798. Where Lake County, IN breaks from the counties next to it is median home price, sitting 57% below the local median of $248,814 at $107,473.
The counties themselves spread $143,165 on median home price, so Lake County, IN sits at one end of an already wide local range rather than apart from it. Lake County, IN has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lake County, IN | 498,291 | $107,473 #4/4 | $1,132 #3/4 | 71.7% #2/4 |
| Porter County, IN | 174,798 | $279,292 | $1,218 | 77.7% |
| Cook County, IL | 5,180,889 | $248,814 | $1,434 | 57.7% |
| Kankakee County, IL | 106,635 | $136,128 | $1,096 | 69.9% |
Frequently Asked Questions
Common questions about the housing market in Lake County, Indiana.
What is the median home price in Lake County, Indiana?
The median home price in Lake County, Indiana is $107,473, lower than the Indiana average of $142,738.
What is the average home price in Lake County, Indiana?
The typical home price in Lake County, Indiana, reported as the median sale price, is $107,473. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lake County, Indiana?
The median gross rent in Lake County, Indiana is $1,132 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Lake County in 2020?
In 2020, the median gross rent in Lake County, Indiana was $882 per month.
What is the price-to-rent ratio in Lake County, Indiana?
The price-to-rent ratio in Lake County, Indiana is about 7.9, meaning it would take roughly 7.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lake County.
Are home prices or rent rising faster in Lake County, Indiana?
Both home prices and rent are rising in Lake County, up about 3.9% and 4.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Lake County, Indiana?
64.4% of households in Lake County, Indiana own their home, about the same as the Indiana average.
What is the vacancy rate in Lake County, Indiana?
The housing vacancy rate in Lake County, Indiana is 10.2%, higher than the Indiana average of 8.8%.
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