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Lake County, IN

North

RANK #373 / 996 NAT  ·  #17 / 28 IN  ·  POP 497,682

1YR FORECAST: +1.6%

5YR OUTLOOK: +27%

Lake County's housing market is projected to grow +1.6% over the next year, tracking near the national average.

[01] Why Lake County?

Bordering Lake Michigan, Lake County, Indiana, is often first recognized for its connection to the Indiana Dunes, offering residents access to beaches and trails. Located in Northwest Indiana, it is part of the Chicago metropolitan area, with commutes to Chicago being a notable aspect of daily life for many. The county presents a mix of urban, suburban, and rural environments, with towns like Crown Point, Munster, and St. John frequently mentioned for their quality of life. Outdoor recreation extends beyond the dunes to numerous county parks, including Deep River County Park and Lemon Lake, providing diverse natural scenery and activities.

Life in Lake County reflects a blend of suburban living with access to major metropolitan amenities. Many families reside here, with public schools in areas like Munster, St. John, and Crown Point often highlighted. The economy, historically tied to manufacturing, has diversified, attracting investment in various sectors. Recent economic developments include growth in industrial projects, with Lake County leading the state in this area. This economic activity, alongside a lower cost of living compared to nearby urban centers, contributes to the county's appeal for residents.

[02] Market Snapshot

Housing Ratio
3.9x

Undervalued relative to economy

GDP Growth
+4.4%

Well above national median

Home Prices
+1.4%

Above national median

Climate & Terrain
-1.1

Below-average climate & terrain

Price/Rent
12x

Strong rental yield

Housing looks undervalued at 3.9x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    Methodist Hospital Northlake Healthcare
    1,000+
  2. 2
    Alverno Clinical Labs LLC Healthcare
  3. 3
    Franciscan Health Healthcare
  4. 4
    Methodist Hospitals Southlake Healthcare
  5. 5
    U.S. Steel Corporation Manufacturing
  6. 6
    NiSource Inc. Energy
  7. 7
    Indiana University Northwest Education
  8. 8
    St. Catherine Hospital Healthcare
  9. 9
    Horseshoe Casino Hammond Hospitality
  10. 10
    Cleveland-Cliffs Inc. Manufacturing

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Lake County U.S. National

The Numbers

DEMOGRAPHICS
Population
497,682
+0.35% YoY
Median Household Income
$66,375
Median Home Value
$195,100
+1.36% 12mo
Median Rent
$1,039
Average Annual Pay
$61,200
+3.7% YoY
Employment
191,633
+1.2% YoY
Income-to-Home-Value
0.3402
More affordable than average
Migration Inflow
1.37%
of pop. from another state
Bachelor's Degree+
24.5%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Median Sale Price
$267,950
Days on Market
58
Moderate pace
Months of Supply
3.2
Balanced market
Sale-to-List Ratio
97.1%
Negotiation room for buyers
Sold Above List
15.2%
Listings w/ Price Drops
28.2%
Building Permits (2024)
1,649
Single-Family Permits
1,621

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Crime & Safety

F
SAFETY
GRADE
Homicide Rate
17.1
per 100K · nat avg 6.3
Firearm Fatalities
24.0
per 100K · nat avg 14.8
Injury Deaths
100.0
per 100K · nat avg 76.3
vs National Average
Well above national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Air Quality

C+
AIR QUALITY
GRADE
Median AQI (3yr)
53.7
Moderate
Good Air Days
38%
411 of 1,095 days
Unhealthy+ Days (3yr)
29
Includes 1 Very Unhealthy
Primary Pollutant
PM2.5
Fine particulate matter
Yearly Trend
2021
54
2022
52
2023
55
Median AQI · lower is better

Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →

[07] Capital Investment

$6,650M
TOTAL
PROJECT AMOUNT STATUS
Sentinel Data Centers Campus
Sentinel Data Centers
$5,000M Proposed
BP Whiting Refinery Delayed Coker Unit Addition
BP Products North America Incorporated
$800M Under Construction
CoreWeave Digital Crossroads Data Center
Decennial Group
$500M Planned
Foundry Works Solar & Energy Storage Center
Invenergy
$200M Under Construction
Lake County Convention Center & Hard Rock Hotel
Hard Rock Casino Northern Indiana
$100M Planned
Tenaska Battery Storage Facility
Tenaska
$50M Planned

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[08] Score Breakdown

GDP Growth +4.4% 78 percentile
Population Growth +0.3% 45 percentile
Income Growth +7.0% 17 percentile
Vacancy Rate 0.9% 60 percentile
Home Price Change +1.4% 50 percentile
Rent Growth +4.9% 79 percentile
Price/Rent 12x 74 percentile

Bars show percentile rank among all 996 counties.

[09] Frequently Asked Questions

Is Lake County, IN a good place to move to?

With a Boom Town Index score of 62/100, Lake County sits in the upper half of all 996 ranked counties. Employment is expanding at +1.2%, and median household income stands at $66,375 — indicators that suggest solid fundamentals even if it's not among the fastest-growing counties in IN.

Is Lake County affordable?

Housing in Lake County is roughly in line with national affordability norms. The median home costs $195,100 and the income-to-home-value ratio sits at 0.34, with rents averaging $1,039/month. Not a bargain, but not a stretch for most local earners either.

Is Lake County growing or shrinking?

Employers in Lake County are hiring — job growth of +1.2% — but the population is close to flat (+0.3% YoY). Home values moved +1.4% over the past year. Labor demand is outpacing local population growth, which tends to tighten wages and housing.

Are many people relocating to Lake County?

Not particularly — 1.37% of Lake County's population moved in from another state, which is below the national average. Most residents are long-term locals rather than recent transplants.

[10] Similar Counties by Size & Score

Clark County, IN 60 Howard County, IN 60 Bartholomew County, IN 66 Floyd County, IN 58 Marion County, IN 69 Morgan County, IN 55 Pulaski County, AR 62 Johnson County, KS 63