Gary, Indiana is a small city in Lake County with a population of over 76,000 people. It's known for its industrial history as it was an important steel industry hub during the second half of the 20th century. The two-bedroom rent in Gary is $810 per month, which is much lower than the average US rate of $1,430. The grocery cost index in Gary is 91 compared to 100 nationally. Therefore, there are great savings to be had when living in Gary as it has a relatively low cost of living compared to other cities in the US.
Companies based in Gary include U.S Steel and Majestic Star Casino & Hotel, both of which offer employment opportunities for residents who wish to stay within the community while pursuing their professional goals. There are also many other local businesses that serve the community such as Carol’s Sweet Creations bakery, K&K Grocery Store and more. All these companies contribute to making Gary an attractive place to live due to its low two bedroom rental price and relatively low cost of living when compared with other places in America.
Gary (zip 46402) has an unemployment rate of 13.0%. The US average is 6.0%.
Gary (zip 46402) has seen the job market decrease by -7.1% over the last year. Future job growth over the next ten years is predicted to be 24.1%, which is lower than the US average of 33.5%.
Tax Rates for Gary (zip 46402)
- The Sales Tax Rate for Gary (zip 46402) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Gary (zip 46402) is 3.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Gary (zip 46402)
- The average income of a Gary (zip 46402) resident is $14,943 a year. The US average is $37,638 a year.
- The Median household income of a Gary (zip 46402) resident is $26,614 a year. The US average is $69,021 a year.