Market Intelligence · IN / Gary

Gary, IN 46402 Housing Market

The typical home value in Gary, IN 46402 is $61,313, down 6.1% over the past year. Homes are listed at a median price of $92,825 and stay on the market for a median of 72 days.

Updated September 2026Median value$61K

The median home value in Gary, IN 46402 is $61K as of September 2026, down 6.1% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 46402 range

$56K to $66K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-6.1% over 12 months

Sep 2025$65K

Low $61KHigh $65K

Sep 2026$61K

The numbers

What is the 46402 housing market like?

As of September 2026

Typical home value

$61K

6.1%YoY

Median list price

$93K

32.8%MoM

Days on market

12.5%MoM

Homes for sale

14.3%MoM

Price cuts

37.8%

New listings

0.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

46402 housing market forecast 2027

+2.8%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 46402 to rise 2.8% by September 2027.

Over the 12 months through September 2026, typical home values in 46402 fell 6.1%, per the Zillow Home Value Index.

Will home prices drop in 46402?

Zillow's forecast does not call for a drop: it expects typical home values in 46402 to rise 2.8% by September 2027, after a 6.1% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 46402 home prices compare?

46402$61,313
Gary$77,283
Indiana$233,780
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Gary: 7 ZIPs; Indiana: 697 ZIPs; United States: 26,262 ZIPs).

Context

Gary's housing market shows signs of pressure. There are 16 homes for sale as of September 2026, with only 4 new listings entering the market. Nearly 38% of active listings have already seen a price cut, suggesting sellers are adjusting expectations to find buyers. Homes are taking over two months to sell on average. For sellers considering a move, this is a buyer's market that rewards realistic pricing and clear-eyed assessment of local conditions.

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Down payment20% · $12,263

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Common questions

What people ask us.

What is the typical home value in 46402?

The typical home value is $61,313, which declined 6.1% over the past year.

How long do homes typically stay on the market here?

Homes have a median days on market of 72 as of September 2026.

What share of homes have had price cuts?

As of September 2026, 37.8% of listings have seen a price cut.

Discover

Nearby ZIP markets.

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