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New Chicago, IN
Full City Profile · Indiana · Lake County County
2.9
/5.0
C+
Fair
2,348
Population
3,504/sq mi density
$54,700
Median Income
$26,022 per capita
$118,900
Home Value
$158,855 Zillow
$1,090
Median Rent
23.8% income on rent
50°F
Avg Temperature
275 sunny days/yr
181
Violent Crime/100K
5,062 property/100K
C+
Overall
2.9 / 5.0
Fair overall score based on economy, affordability, safety and education
B
Economy
3.3 / 5.0
$54,700 median income, 5.1% unemployment
A+
Affordability
5.0 / 5.0
$118,900 home value, $1,090/mo rent
F
Safety
1.0 / 5.0
181 violent crimes/100K
C
Education
2.4 / 5.0
17.0% bachelor's degree or higher
Housing Overview
Median Home Value
$118,900
58% below
US avg: $281,900
Median Rent
$1,090/mo
6% below
US avg: $1,163/mo
Homeownership Rate
68.2%
4% above US avg (65.4%)
Total Housing Units
857
Median year built: 1962
Home Value by Source
Census Median
$118,900
Zillow (ZHVI)
$158,855
Median Sale Price
$216,000
Median List Price
$147,000
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
68.2%
Owner-Occupied
31.8%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$816/mo
1 Bedroom
$882/mo
2 Bedroom
$1,096/mo
3 Bedroom
$1,391/mo
4 Bedroom
$1,590/mo
Census median rent:
$1,090/mo
Market Indicators (Redfin)
Median Days on Market
11 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
1
Price Drops
50.0%
of listings with price reduction
Price Per Sq Ft
$189
Active Inventory
2
homes for sale
Affordability & Housing Stock
Rent Burden
23.8%
of renters spending 30%+ of income on housing
23% below US avg (31.0%)
Median Year Built
1962
Average age of housing stock: 64 years
Homeownership Rate
68.2%
Complete Housing Data
Home Values
| Census Median Value | $118,900 |
| Zillow Home Value (ZHVI) | $158,855 |
| Median Sale Price | $216,000 |
| Median List Price | $147,000 |
| Price Per Sq Ft | $189 |
Rent
| Census Median Rent | $1,090 |
| FMR Studio | $816 |
| FMR 1-Bedroom | $882 |
| FMR 2-Bedroom | $1,096 |
| FMR 3-Bedroom | $1,391 |
| FMR 4-Bedroom | $1,590 |
Market
| Days on Market | 11 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 50.0% |
| Homes Sold | 1 |
| Active Inventory | 2 |
| Price Per Sq Ft | $189 |
Ownership & Stock
| Owner-Occupied | 68.2% |
| Renter-Occupied | 31.8% |
| Homeownership Rate | 68.2% |
| Total Housing Units | 857 |
| Median Year Built | 1962 |
| Rent Burden | 23.8% |