ZIP Code 46402 — Gary, IN Home Prices (2026)
The typical home in ZIP 46402 (Gary, Indiana) is worth about $62,000 at roughly $61 per square foot — 22% more affordable than the Gary median and 79% more affordable than the typical U.S. home.
How 46402 compares
ZIP 46402 is one of the more affordable ZIP codes in Gary: its typical home value of $62,000 ranks #6 of the 7 Gary ZIP codes we track (the citywide range runs from $57,000 in 46407 to $151,000 in 46403). Per square foot it costs about $61, against $94 for Gary as a whole, $155 for Indiana, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 46402 | $62,000 | $61 |
| Gary, IN | $79,000 | $94 |
| Indiana | $237,000 | $155 |
| United States | $294,000 | $195 |
Home value by size in 46402
Using this ZIP’s rate of about $61 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $61,000 |
| 1,500 sq ft | $91,500 |
| 2,000 sq ft | $122,000 |
| 2,500 sq ft | $152,500 |
| 3,000 sq ft | $183,000 |
Salary needed to buy a home in ZIP 46402
To buy the typical $62,000 home in ZIP 46402 with 20% down, you need a household income of roughly $17,000 a year (about $390 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $20,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $3,100 | $490/mo | $21,000/yr |
| 10% (+PMI) | $6,200 | $470/mo | $20,000/yr |
| 20% | $12,400 | $390/mo | $17,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 46402
At about $61 per square foot, here is roughly how much home different budgets get you in ZIP 46402:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $150k | 2460 sq ft | above the median — larger homes or the pricier ZIPs |
| $200k | 3280 sq ft | above the median — larger homes or the pricier ZIPs |
| $250k | 4100 sq ft | above the median — larger homes or the pricier ZIPs |
| $300k | 4920 sq ft | above the median — larger homes or the pricier ZIPs |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 46402 home.
Estimate a specific home in 46402
The estimator below is pre-set to ZIP 46402 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Gary ZIP codes by home value
Where 46402 sits among Gary’s 7 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 46403 | $151,000 | $135 |
| 2 | 46408 | $111,000 | $104 |
| 3 | 46404 | $97,000 | $94 |
| 4 | 46406 | $79,000 | $105 |
| 5 | 46409 | $76,000 | $79 |
| 6 | 46402 (this page) | $62,000 | $61 |
| 7 | 46407 | $57,000 | $72 |
ZIP 46402 home prices: frequently asked
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See the full Gary home values page, all Indiana cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.