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These days, finding an affordable place to live in the New Chicago area can be challenging. Home prices in New Chicago are now at a median cost of $127,905, lower than the Indiana average of $232,932.
The average cost of rent is $1,135/mo in New Chicago, primarily driven by the current value of real estate in the New Chicago area. In New Chicago, 42.89% of households rent, and 42.15% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Chicago is $4,336 per month. Households that rent pay about 26.18% of their income on rent here. New Chicago’s most expensive areas are in the southern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Lake Station, IN: equally priced homes
- Hobart, IN: higher priced homes
- Gary, IN: less expensive homes
- Portage, IN: higher priced homes
- Ogden Dunes, IN: higher priced homes
- Wheeler, IN: higher priced homes
- Merrillville, IN: higher priced homes
- Deep River, IN: higher priced homes
- Griffith, IN: higher priced homes
- Burns Harbor, IN: higher priced homes
Cities with Similar Populations
- Cimarron, KS: higher priced homes
- Eton, GA: higher priced homes
- Rome City, IN: higher priced homes
- King William, VA: higher priced homes
- Long Ridge, SC: higher priced homes
- North Webster, IN: higher priced homes
- Ogden, KS: higher priced homes
- Oxford, WI: higher priced homes
- Paia, HI: higher priced homes
- Pomerene, AZ: higher priced homes
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