1st Advantage MortgageLake County households have a median income of $71,493 and median rent of $1,131 a month (ACS 2020 to 2024). Whatever your own numbers, compare written offers on APR, fees and total cost, and verify the lender is licensed in Indiana before sharing details.
On this page
- Lake County by the numbers
- What it costs to live in Lake County
- What Lake County households earn
- The Lake County job picture
- Lake County towns compared
- Regional comparison for Lake County
- What a median Lake County budget can carry
- Borrowing situations common in Lake County
- People and households in Lake County
- Who licenses lenders for Lake County residents
- Checklist for Lake County applicants
- Related local guides
- Frequently asked questions
Lake County by the numbers
Roughly 500,379 residents live in Lake County, Indiana, 2nd by population among the state's 92 counties and county equivalents. Land area is 499 square miles (2024 Gazetteer), so density runs near 1,003 per square mile. For statistical purposes it belongs to the Chicago-Naperville-Elgin, IL-IN metro area, as delineated by the Office of Management and Budget in July 2023. Hammond is the biggest of its 22 Census places, at roughly 76,768 people (15% of the county total).
What it costs to live in Lake County
Median gross rent, utilities included, comes to $1,131 in Lake County versus $1,062 statewide. By the Census definition, 52% of Lake County renters are cost-burdened. Home values center on $230,600, or 3.2 years of median income. 72% of Lake County households own their home and 28% rent.
| Measure | Lake County | Indiana | Median U.S. county |
|---|---|---|---|
| Median gross rent | $1,131/mo | $1,062/mo | $877/mo |
| Median home value | $230,600 | $218,200 | $185,300 |
| Owners | 72% | 71% | 75% |
| Rent-burdened renters | 52% | 48% | 45% |
| Burdened owners | 24% | 20% | n/a |
| Mobile homes | 1.5% | 4.4% | n/a |
| Vacant units | 10% | 9% | n/a |
Rent pressure is real here, so run any payment through the debt-to-income calculator before you apply.
What Lake County households earn
The median household income in Lake County is $71,493, close to the statewide $71,957. That places it 34th among Indiana's 92 county-level areas.
| Yearly household income | Lake County | Gap to Indiana |
|---|---|---|
| Under $35,000 | 24.1% | +1.6 pts |
| $35,000 to $99,999 | 41.1% | -2.2 pts |
| $100,000 to $199,999 | 26.4% | +0.6 pts |
| $200,000 or more | 8.3% | +0.1 pts |
The spread is wide: 35% of Lake County households make $100,000 or more, and 24% make less than $35,000. Census counts 14.3% of Lake County residents in poverty, against 12.3% across Indiana. Income inequality, measured by the Gini index, comes to 0.456 here. For a borrower in Lake County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
The Lake County job picture
Education and health care employs 24% of working residents, the largest share; manufacturing is next with 15%. The survey's unemployment rate for Lake County averages 6.1% over 2020 to 2024 (state: 4.3%). 21% of commuters travel 45 minutes or more each way, and 8% work from home. Only 7.2% of homes here go without a vehicle.
| Where residents work | Lake County | Difference from Indiana |
|---|---|---|
| Education and health care | 24.1% | +0.6 pts |
| Manufacturing | 14.6% | -3.5 pts |
| Retail trade | 11.1% | +0.4 pts |
| Professional and administrative services | 9.6% | +0.4 pts |
| Arts, lodging and food service | 8.9% | +1.1 pts |
| Transportation, warehousing and utilities | 8.0% | +1.8 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Lake County should have bank statements and tax returns ready.
Lake County towns compared
22 Census places fall mainly inside Lake County; the 14 biggest are below. They account for 466,775 residents, leaving about 7% of the county in unincorporated, unnamed areas. Among places of 500 or more people, median income runs from $38,731 in Gary to $135,870 in Winfield. This guide covers each of the 22 places and the rural areas around them.
| Community | Type | Residents | Household income (median) | Rent (median) | Distance |
|---|---|---|---|---|---|
| Hammond | city | 76,768 | $55,504 | $1,134 | 12 mi |
| Gary | city | 68,113 | $38,731 | $1,012 | 8 mi |
| Merrillville | town | 36,476 | $67,587 | $1,282 | 3 mi |
| Crown Point | city | 34,393 | $101,686 | $1,485 | 5 mi |
| Schererville | town | 29,701 | $89,466 | $1,310 | 4 mi |
| Hobart | city | 29,558 | $75,160 | $1,206 | 6 mi |
| East Chicago | city | 26,022 | $42,125 | $854 | 13 mi |
| Munster | town | 23,733 | $110,187 | $1,507 | 8 mi |
| Highland | town | 23,680 | $78,062 | $1,230 | 7 mi |
| St. John | town | 22,567 | $131,467 | $989 | 5 mi |
| Dyer | town | 16,400 | $107,159 | $1,225 | 7 mi |
| Griffith | town | 16,273 | $76,636 | $1,235 | 5 mi |
| Cedar Lake | town | 15,295 | $83,381 | $1,350 | 8 mi |
| Lake Station | city | 13,185 | $59,591 | $1,124 | 10 mi |
Regional comparison for Lake County
Distances run center to center, from Porter County at 16 miles out to Kankakee County at 34. Income ranges from $71,055 in LaPorte County to $109,984 in Will County; 4 of these neighbors top Lake County's median. Some neighbors are in Illinois. Lender licensing is state by state, so a loan for a Lake County resident follows Indiana rules.
| Nearby county | Center to center | Household income | Gross rent | Owner-occupied |
|---|---|---|---|---|
| Lake County | - | $71,493 | $1,131/mo | 72% |
| Porter County, IN | 16 mi | $87,972 | $1,219/mo | 78% |
| Will County, IL | 31 mi | $109,984 | $1,462/mo | 83% |
| Cook County, IL | 32 mi | $83,498 | $1,435/mo | 58% |
| LaPorte County, IN | 33 mi | $71,055 | $976/mo | 75% |
| Jasper County, IN | 34 mi | $77,314 | $962/mo | 84% |
| Kankakee County, IL | 34 mi | $71,281 | $1,097/mo | 70% |
What a median Lake County budget can carry
Here is the Lake County median household run through a simple DTI check. Your numbers will differ.
- $5,958 a month: gross income for a household at the Lake County median
- Median rent: $1,131, or 19 cents of every gross dollar
- With a 43% ceiling, about $1,431 remains for car, card, student and any new loan payments
If your rent is above $1,131, the room shrinks dollar for dollar.
Borrowing situations common in Lake County
Where the Lake County numbers stand out, and why it matters for a loan:
- Commuter costs. 21% drive 45 minutes or more. Compare shop financing with a loan, and keep a small repair fund.
- Renters under pressure. When 52% pay 30% or more for rent, the smallest loan that solves the problem is the right size.
- Consolidating cards in Lake County. Compare the total repaid, not the monthly figure (how).
People and households in Lake County
College graduates make up 26% of the adult population. About 7% go without health insurance.
| People and households | Lake County | Indiana | Median county |
|---|---|---|---|
| Median age | 39.7 | 38.1 | 41.5 |
| Bachelor's or higher | 25.8% | 29.5% | 22.2% |
| No high school diploma | 9.8% | 9.6% | n/a |
| No health insurance | 6.6% | 7.4% | 7.8% |
| No vehicle | 7.2% | 6.2% | 5.4% |
| Work from home | 8.2% | 10.7% | 8.7% |
| Poverty rate | 14.3% | 12.3% | 13.2% |
| Unemployment (ACS) | 6.1% | 4.3% | 4.4% |
| Travel time to work | Workers |
|---|---|
| Under 15 min | 22.7% |
| 15 to 29 min | 35.2% |
| 30 to 44 min | 21.5% |
| 45 to 59 min | 10.0% |
| 60+ min | 10.7% |
Who licenses lenders for Lake County residents
Licensing happens at the state level, so a lender working with Lake County borrowers answers to the Indiana Department of Financial Institutions. Federal complaints: consumerfinance.gov. More on Indiana: Indiana personal loans.
Checklist for Lake County applicants
Four checks before you sign anything:
- Size the loan to the bill, not to the most a lender offers.
- Shop at least three lenders, including one Lake County-area credit union.
- Check the license, then the reviews, then the offer.
- Confirm the first due date before setting up autopay.
Related local guides
For statewide rules and data, see the Indiana guide.
Frequently asked questions
What does a typical Lake County household make?
About $71,493 a year at the median (ACS 2020-24).
Is Lake County expensive for renters?
Median rent is $1,131 against $1,062 statewide, and 52% of renter households are cost-burdened.
Which towns does the Lake County guide cover?
Every community in the county, unincorporated areas included. The largest of its 22 Census places: Hammond, Gary, Merrillville, Crown Point, Schererville.
Is the fit check different in Lake County?
No. It is identical everywhere, and it never looks at your neighborhood.
Who regulates personal lenders for Lake County residents?
The Indiana Department of Financial Institutions licenses consumer lenders in Indiana; the CFPB takes complaints about any lender, and the FTC wants to hear about fee-first offers.