| Index | Gary | Indiana | National |
| Cost of living | 81 | 89 | 100 |
| Groceries | 94 | 97 | 100 |
| Health care | 98 | 97 | 100 |
| Housing | 51 | 72 | 100 |
| Transportation | 91 | 96 | 100 |
| Utilities | 95 | 96 | 100 |
| Lifestyle & Entertainment | 92 | 95 | 100 |
| Household Items | 97 | 98 | 100 |
| Education & Childcare | 89 | 94 | 100 |
Understanding the cost of living in Gary can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Gary cost of living index is 81, which is 19% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
Housing costs often consume a significant share of your take-home income, often surpassing 30%. Fortunately, Gary distinguishes itself by reporting housing expenses that are 49.3% below the national average. This indicates that both owning a home and renting in this area are notably more budget-friendly compared to the rest of the nation. With such favorable housing affordability, residents of Gary can allocate more of their income to housing, enhancing their financial flexibility.
Is Gary affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Gary, for instance, where the median home price falls 62.4% lower than the national average, and monthly rent rates are 18.6% lower than usual. Additionally, median income levels contribute to the equation, with Gary flaunting a median household income of $47,575, 41.5% lower than the national norm.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Gary comes in at 4.8% lower than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Gary, healthcare costs are 2.2% lower than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Gary, the baseline sales tax rate begins at 7%, and income tax rates start at 3.15%.
The Gary cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $62,823 | $5,235 | $1,466 | $1,885 |
| Renters | $34,742 | $2,895 | $811 | $1,042 |
| State | General Sales Tax | With Max Surtax |
| Indiana | 7% | 7% |
| State | Income Tax (Low) | Income Tax (High) |
| Indiana | 3.15% | 3.15% |
| City | Population | Cost of Living Index | National Avg. |
| Wheeler, IN | 237 | 96 | 3.8% |
| Ford Heights, IL | 2,801 | 83 | 16.6% |
| East Chicago, IN | 28,835 | 82 | 17.8% |
| Phoenix, IL | 1,450 | 85 | 14.6% |
| New Chicago, IN | 1,883 | 84 | 15.9% |
| Gary, IN | 77,151 | 81 | 19.3% |
| City | Population | Cost of Living Index | National Avg. |
| Centreville, VA | 77,124 | 142 | 41.7% |
| Rancho Cordova, CA | 77,119 | 132 | 31.9% |
| Milpitas, CA | 77,004 | 217 | 116.6% |
| Missoula, MT | 77,349 | 114 | 13.8% |
| Rock Hill, SC | 76,923 | 98 | 1.8% |
| Gary, IN | 77,151 | 81 | 19.3% |
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