ZIP Code 46408 — Gary, IN Home Prices (2026)

The typical home in ZIP 46408 (Gary, Indiana) is worth about $111,000 at roughly $104 per square foot — 41% more expensive than the Gary median and 62% more affordable than the typical U.S. home.

$111,000

Typical home value

$104

Price per sq ft

#2 of 7

Gary ZIPs by value

+41%

vs Gary median

How 46408 compares

ZIP 46408 is one of the pricier ZIP codes in Gary: its typical home value of $111,000 ranks #2 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 $104, against $94 for Gary as a whole, $155 for Indiana, and $195 nationally.

Area	Typical value	$ / sq ft
ZIP 46408	$111,000	$104
Gary, IN	$79,000	$94
Indiana	$237,000	$155
United States	$294,000	$195

Home value by size in 46408

Using this ZIP’s rate of about $104 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	$104,000
1,500 sq ft	$156,000
2,000 sq ft	$208,000
2,500 sq ft	$260,000
3,000 sq ft	$312,000

Salary needed to buy a home in ZIP 46408

To buy the typical $111,000 home in ZIP 46408 with 20% down, you need a household income of roughly $30,000 a year (about $700 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $36,000, because the loan is bigger and mortgage insurance kicks in.

Down payment	Cash down	Monthly payment	Income needed
5% (+PMI)	$5,600	$880/mo	$38,000/yr
10% (+PMI)	$11,100	$840/mo	$36,000/yr
20%	$22,200	$700/mo	$30,000/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 46408

At about $104 per square foot, here is roughly how much home different budgets get you in ZIP 46408:

Budget	Approx. size	What that looks like locally
$150k	1440 sq ft	above the median — larger homes or the pricier ZIPs
$200k	1920 sq ft	above the median — larger homes or the pricier ZIPs
$250k	2400 sq ft	above the median — larger homes or the pricier ZIPs
$300k	2880 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 46408 home.

Estimate a specific home in 46408

The estimator below is pre-set to ZIP 46408 — 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 46408 sits among Gary’s 7 ZIP codes:

#	ZIP code	Typical value	$ / sq ft
1	46403	$151,000	$135
2	46408 (this page)	$111,000	$104
3	46404	$97,000	$94
4	46406	$79,000	$105
5	46409	$76,000	$79
6	46402	$62,000	$61
7	46407	$57,000	$72

ZIP 46408 home prices: frequently asked

What is the average home price in ZIP code 46408? +

The typical home in ZIP 46408 (Gary, IN) is worth about $111,000 as of 2026. That is 41% more expensive than the Gary median of $79,000 and 62% more affordable than the U.S. median of $294,000.

What is the price per square foot in 46408? +

About $104 per square foot in 46408, versus $94 across Gary and $155 across Indiana. At that rate a 1,500 sq ft home runs roughly $156,000 and a 2,500 sq ft home about $260,000.

What salary do you need to buy a house in ZIP 46408? +

For the typical $111,000 home in ZIP 46408, a household income of about $30,000 a year covers the payment with 20% down (a 30-year fixed at 6.5%, plus taxes and insurance, under the 28% rule). With 10% down you need roughly $36,000; with 5% down about $38,000.

Is 46408 an expensive ZIP code? +

Within Gary, 46408 ranks #2 of 7 ZIP codes by typical home value, which makes it one of the pricier ZIP codes in Gary. Nationally it is relatively affordable.

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.