46407 — Gary, IN Home Values
Typical home value $59,994 as of June 2026 · 380th of 380 in Chicago-Naperville-Elgin, IL-IN-WI
Blue: typical home value (Zillow ZHVI) in ZIP code 46407, June 2021 to June 2026. This page shows observed data only; no forecast.
How 46407 compares in the Chicago-Naperville-Elgin, IL-IN-WI area
ZIP code 46407 (Gary, IN) has a typical home value of $59,994 as of June 2026, ranking 380th of 380 ZIP codes tracked in the Chicago-Naperville-Elgin, IL-IN-WI area, more expensive than about 0% of ZIP codes in the metro. Prices here have moved -1.0% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +23.6%, from $48,531 in June 2021 to $59,994 in June 2026. Against observed rent, the typical home here sells for 4.5× the annual rent ($1,108/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Chicago-Naperville-Elgin, IL-IN-WI forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Chicago.
Population and demographics
ZIP code 46407 has a population of 8,889, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 92.7% Black or African American, 3% White, 1.7% two or more races, 1.7% Hispanic or Latino, 0.8% Asian, and 0.1% another race.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Daniel Hale Williams Elem Sch | 1320 E 19th Ave, Gary, IN | 0.7 mi |
| Mary M Bethune Early Child Dev Ctr | 2367 E 21st Ave, Gary, IN | 1.2 mi |
| 21st Century Charter Sch of Gary | 556 Washington St, Gary, IN | 1.6 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 46407?
$59,994 as of June 2026, the latest month Zillow has published observed data for.
Is 46407 an expensive ZIP code in the Chicago-Naperville-Elgin, IL-IN-WI area?
46407 ranks 380th of 380 ZIP codes in the Chicago-Naperville-Elgin, IL-IN-WI area by typical home value, more expensive than about 0% of ZIP codes in the metro.
How much have home values in 46407 changed over the past year?
-1.0% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 46407?
The typical home price is 4.5× the observed annual rent in this ZIP code ($1,108/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 46407?
8,889, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 46407?
Daniel Hale Williams Elem Sch (0.7 mi), Mary M Bethune Early Child Dev Ctr (1.2 mi), 21st Century Charter Sch of Gary (1.6 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 46407?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Chicago-Naperville-Elgin, IL-IN-WI forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.