Cost of Living in Gary, IN
Updated November 2026 · Lake County · Chicago-Naperville-Elgin, IL-IN metro area · population 68,113
Prices in Gary are 1.8% below the US average (local index 98.2; the BEA index for the Chicago-Naperville-Elgin, IL-IN metro area is 103.6), with local housing the biggest saving at 75.0; a single adult's modelled budget is about $2,268 a month and the median rent is $1,012.
Prices by category
CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects Gary's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for the Chicago-Naperville-Elgin, IL-IN metro area, unchanged.
Gary price index by category, US average = 100: All items 98.2, Housing (rents) 75.0, Goods 107.3, Utilities 83.6, Other services 100.5
It is the 5th most expensive of the 22 Indiana cities in our data. Cheaper than 65% of the cities we cover.
| BEA index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| All items | 102.6 | 104.5 | 105.5 | 105.7 | 102.5 | 103.6 |
Monthly budget by household type
1 adult · 1-bedroom · modelled estimate for Gary, IN
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $578 | $6,936 | 25% |
| Utilities | $240 | $2,880 | 11% |
| Food at home | $303 | $3,636 | 13% |
| Transportation | $618 | $7,416 | 27% |
| Health care | $353 | $4,236 | 16% |
| Clothing, personal care & supplies | $176 | $2,112 | 8% |
| Total | $2,268 | $27,216 | 100% |
2 adults · 2-bedroom · modelled estimate for Gary, IN
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $736 | $8,832 | 19% |
| Utilities | $379 | $4,548 | 10% |
| Food at home | $559 | $6,708 | 14% |
| Transportation | $1,224 | $14,688 | 31% |
| Health care | $655 | $7,860 | 17% |
| Clothing, personal care & supplies | $348 | $4,176 | 9% |
| Total | $3,901 | $46,812 | 100% |
2 adults + 2 children · 3-bedroom · modelled estimate for Gary, IN
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $955 | $11,460 | 19% |
| Utilities | $462 | $5,544 | 9% |
| Food at home | $797 | $9,564 | 16% |
| Transportation | $1,628 | $19,536 | 33% |
| Health care | $610 | $7,320 | 12% |
| Clothing, personal care & supplies | $448 | $5,376 | 9% |
| Total | $4,900 | $58,800 | 100% |
Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.
Housing costs in Gary
Rent by number of bedrooms
| Size | Median rent |
|---|---|
| Studio | $894 modelled from city median rent |
| 1 bedroom | $736 |
| 2 bedrooms | $937 |
| 3 bedrooms | $1,216 |
| 4 bedrooms | $1,299 |
Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).
Rent, home values and affordability
| Measure | Value |
|---|---|
| Median gross rent | $1,012 |
| Median contract rent (excl. utilities) | $795 |
| Median home value | $94,700 |
| Owner costs with a mortgage | $1,175/mo |
| Median household income | $38,731 |
| Rent as % of renter income Very expensive | 36.4% |
| Home value ÷ household income Very affordable | 2.4× |
Census ACS 5-year 2020-2024.
Electricity and gas prices
Residential electricity in Indiana
17.02¢ per kWh, August 2026
12-month change: +5.0% (from 16.21¢) · US 18.16¢
Average household uses 929 kWh a month in Indiana ≈ $157/month. Source: EIA-861M (statewide average).
Regular gasoline regional figure: Midwest (PADD 2)
$4.10 per gallon, week of 2026-11-02
12-month change: +45.0% (from $2.83) · US $4.15
EIA weekly retail price survey; Indiana is covered by the Midwest (PADD 2) average.
Inflation in the Midwest
Consumer prices in the Midwest Census region rose +4.2% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.
Salary equivalent
Because prices in Gary are 1.8% below the US average, $60,000 here has the buying power of about $61,100 in an average-priced US area.
Formula: US-equivalent = salary × 100 ÷ 98.2. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.
Nearby cities
| City | Distance | Index | Budget (single) | Median rent |
|---|---|---|---|---|
| Hammond, IN | 8 mi | 99.8 | $2,441 | $1,134 |
| Oak Lawn, IL | 23 mi | 102.5 | $2,835 | $1,335 |
| Tinley Park, IL | 24 mi | 104.7 | $2,969 | $1,495 |
| Chicago, IL | 24 mi | 103.9 | $2,862 | $1,440 |
| Orland Park, IL | 26 mi | 103.9 | $2,933 | $1,440 |
| Cicero, IL | 28 mi | 100.1 | $2,519 | $1,154 |
Cities with a similar cost of living
| City | Index | Budget (single) | Median rent |
|---|---|---|---|
| Lakeland, FL | 98.2 | $2,693 | $1,395 |
| New Bedford, MA | 98.2 | $2,465 | $1,137 |
| North Charleston, SC | 98.1 | $2,777 | $1,430 |
| Bristol, CT | 98.1 | $2,685 | $1,338 |
| New Braunfels, TX | 98.2 | $2,818 | $1,654 |
| Jacksonville, FL | 98.2 | $2,736 | $1,465 |
Compare Gary with another city
Frequently asked questions
Is Gary, IN an expensive place to live?
Gary has a local cost of living index of 98.2, which is 1.8% below the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for the Chicago-Naperville-Elgin, IL-IN metro area (103.6) and adjusts housing to Gary's own rents. It is 4.8 points above the Indiana average. It is the 5th most expensive of the 22 Indiana cities in our data. Cheaper than 65% of the cities we cover.
How much money do you need to live in Gary?
Our modelled estimate of basic monthly costs is $2,268 for a single adult, $3,901 for a couple and $4,900 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $58,900 in Gary.
What is the average rent in Gary?
The median gross rent (rent plus tenant-paid utilities) is $1,012 a month (Census ACS 2020-2024). By size: 1 bedroom $736, 2 bedrooms $937, 3 bedrooms $1,216. The typical renter spends 36.4% of household income on rent (very expensive).
How much does a house cost in Gary?
The median owner-estimated home value is $94,700, 2.4 times the median household income of $38,731 (very affordable). Owners with a mortgage pay a median $1,175 a month in housing costs.
How much is electricity and gas in Gary?
Indiana residential electricity averaged 17.02¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $4.10 a gallon (Midwest (PADD 2) average, week of 2026-11-02).
Sources and notes
- Local cost index: CostLiving estimate from BEA Regional Price Parities 2024 for the Chicago-Naperville-Elgin, IL-IN metropolitan statistical area (BEA index 103.6) with housing from Census ACS median rent (city figure); see the methodology.
- Rents, home values, income, population: U.S. Census Bureau ACS 5-year 2020-2024, Census place 1827000 (Gary city).
- Electricity: EIA-861M, Indiana residential average, August 2026.
- Gasoline: EIA weekly retail regular gasoline, Midwest (PADD 2), week of 2026-11-02.
- Inflation: BLS CPI-U Midwest region, September 2026.
- Budget baselines: BLS Consumer Expenditure Survey 2025; electricity use by household size: EIA RECS 2020.
- Gasoline price: regional figure (EIA publishes weekly prices for only 9 states).
Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources