Quick facts: East chicago, IN

Quick Facts

95.3
Cost of Living
below US average
25,968
Population
34.16
Crime Rate per 1000
above US average
$39,434
Median Income
below US average
$99,900
Median House Price
above US average
$1068.13
Average Rent
below US average
31%
Poverty Rate
above US average
8.3%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $39,434.

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Income Needed to Buy

βœ“ Affordable
$31k/year
Based on $99,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($39,434) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$46k/year
Based on $1068.13/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $46k vs median $39,434
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for East chicago, IN

East Chicago is a city located in Lake County, Indiana, part of the Chicago metropolitan area. With a population of around 29,000 residents, it sits along the southern shore of Lake Michigan, just east of Chicago, Illinois. The city is known for its industrial history, with a significant presence of steel manufacturing and shipping industries that played a vital role in the local economy. East Chicago is characterized by a diverse community and offers a mix of urban and suburban living. The city's landscape features residential areas, parks, and industrial zones. Key attractions include the East Chicago Marina, which provides recreational opportunities and scenic views of the lake, as well as various local parks like the John J. Wiseman Park and the Central Park Plaza. The city also has a rich cultural heritage, with various events held throughout the year that celebrate its community and history. East Chicago is served by the East Chicago Central School Corporation, providing educational options for its residents. Overall, East Chicago offers a unique blend of industrial history, community spirit, and proximity to the bustling city of Chicago, making it an integral part of the region.

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