Cost of Living in Lake County, Indiana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Lake County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lake County ranks #2,902 of 3,144 counties for affordability (bottom 8%)
Data Story
About Cost of Living in Lake County, Indiana
Lake County faces steeper housing costs
Lake County renters spend 19.0% of income on housing—the highest rent-to-income ratio in this county cluster and above typical national benchmarks. With a median household income of $68,985 (below the national $74,755) and median rents of $1,094, housing affords less flexibility.
Least affordable renting in Indiana's tier
Lake County's 19.0% rent-to-income ratio substantially exceeds Indiana's 15.6% state average, making it the most housing-strained county in this analysis. Its $1,094 median rent is $211 above the state average of $883.
Highest rents amid lower regional incomes
Lake County's $1,094 median rent rivals Johnson County's $1,208 but paired with $68,985 income—substantially lower than Johnson's $87,227. This income-to-rent mismatch makes Lake County notably less affordable than surrounding counties.
Housing consumes disproportionate share
Renters dedicate 19.0% of income to rent, and homeowners spend roughly 19.4% on mortgages for a median home value of $214,700. Combined with other expenses, housing costs leave Lake County households with tighter budgets than regional peers.
Lake County works for high-earners only
Lake County's steep rents require careful financial planning unless your income exceeds the median significantly. Consider more affordable neighbors like Knox County ($782 rent, $58,863 income) or Lawrence County ($800 rent, $65,551 income) if housing affordability is central to your move.
Cost of Living Advisory: Lake County
Affordability Verdict
Lake County is affordable for renters, with a median gross rent of $1,094/month representing approximately 19.0% of median household income. The rent burden (GRAPI) stands at 30.0%.
Rent vs. Own
Renters in Lake County pay $1,094/month on average, compared to $1,110/month for homeowners. This market favors renters by about 1%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $43,760/year. For owner costs at the 28% rule, the required income is roughly $47,571/year. With a median household income of $68,985, most households can comfortably afford rent here. Notably, 30.0% of renter households in Lake County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Indiana, Lake County is less affordable than Porter County by roughly 5% ($1,094/mo vs $1,146/mo).
Affordability Calculator
See how your income compares to housing costs in Lake County
Rent Burden
19.0%
of gross income
Max Housing (28% Rule)
$1,610
per month
Owner Cost Burden
19.3%
of gross income
The median home in Lake County may be a stretch
Median home value is $214,700. Estimated monthly cost: $1,714 vs. your max of $1,610.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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