Lake Station, IN Cost Of Living
Cost Of Living In Lake Station, IN Summary
Cost of living in Lake Station research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lake Station is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lake Station is 90, with 100 being the average.
The cost of living index in Lake Station is 0.9x lower than the national average.
Lake Station ranks as the #60 cheapest in Indiana out of 128.
Lake Station ranks as the #1,206 cheapest out of 6,489 in the US.
The median home value in Lake Station is $153,334.
The median income in Lake Station is $56,306.
Table Of Contents
Lake Station's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Lake Station, IN?
According to the most recent data on the cost of living, Lake Station has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to Indiana, Lake Station has a cost of living index that's 1.0x lower than Indiana's index of 92.
The standard of living in Lake Station ranks as #60 most affordable out of the 128 places we measured in Indiana. By definition, that implies Lake Station ranks as the #68 most expensive place in the Hoosier State.
For more reading on life in Lake Station, check out:
In Indiana
In America
Lake Station Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in Lake Station. Here is how it fairs on each of the criteria:
The Services index in Lake Station is 109.
The Groceries index in Lake Station is 103.
The Health index in Lake Station is 107.
The Housing index in Lake Station is 61.
The Transportation index in Lake Station is 108.
The Utilities index in Lake Station is 88.
| Living Expense | Lake Station | Indiana | National Average | |
|---|---|---|---|---|
| Overall | 90 | 92 | 100 | |
| Services | 109 | 95 | 100 | |
| Groceries | 103 | 97 | 100 | |
| Health | 107 | 94 | 100 | |
| Housing | 61 | 73 | 100 | |
| Transportation | 108 | 94 | 100 | |
| Utilities | 88 | 107 | 100 | |
Lake Station, IN Housing Cost Breakdown
Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Lake Station is $153,334.
The Median Rent in Lake Station is $1,115.
The Median Income in Lake Station is $56,306.
The Home Value To Income in Lake Station is 2.7x.
The Rent To Monthly Income in Lake Station is 0.24x.
| Statistic | Lake Station | Indiana | United States |
|---|---|---|---|
| Median Home Value | $153,334 | $251,301 | $303,400 |
| Median Rent | $1,115 | $1,020 | $1,348 |
| Median Income | $56,306 | $70,051 | $78,538 |
| Home Value To Income | 2.7x | 3.6x | 3.9x |
| Rent To Monthly Income | 0.24x | 0.17x | 0.21x |
Median Home Value
Median Rent
Median Income
Lake Station, IN Costs By Category
Detailed Lake Station Services Costs Vs. Indiana
| Item | Lake Station | Indiana |
|---|---|---|
| Shampoo | $1.27 | $1.28 |
| Movie | $17.91 | $12.13 |
| Bowling | $24.58 | $18 |
| Haircut | $33.69 | $24.26 |
| Beauty Salon | $53.44 | $45.56 |
Detailed Lake Station Groceries Costs Vs. Indiana
| Item | Lake Station | Indiana |
|---|---|---|
| Ground Beef | $5.28 | $5.84 |
| Fried Chicken | $1.42 | $1.57 |
| Milk | $4.87 | $4.67 |
| Potatoes | $4.9 | $4.93 |
| Pizza | $13.41 | $12.09 |
| Beer | $10.0 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Lake Station Health Costs Vs. Indiana
| Item | Lake Station | Indiana |
|---|---|---|
| Optometrist | $118.27 | $125.68 |
| Doctor | $167.67 | $135.78 |
| Dentist | $128.22 | $113.29 |
Detailed Lake Station Transportation Costs Vs. Indiana
| Item | Lake Station | Indiana |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $70.87 | $59.92 |
Detailed Lake Station Utilities Costs Vs. Indiana
| Item | Lake Station | Indiana |
|---|---|---|
| All Electricity | $148.58 | $193.99 |
| Phone | $210.03 | $192.25 |
Lake Station SnackAbility
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Cost Of Living In Cities Around Lake Station
The cost of living varies in the cities and towns around Lake Station. Here's a quick look at the cost of living in the most populous nearby places:
Gary, IN has a cost of living index of 88, 1.0x Lake Station.
Portage, IN has a cost of living index of 97, 1.1x Lake Station.
Merrillville, IN has a cost of living index of 101, 1.1x Lake Station.
| City | Population | Cost Of Living | Vs. Lake Station |
|---|---|---|---|
| Gary, IN | 68,604 | 88 | 1.0x |
| Portage, IN | 37,951 | 97 | 1.1x |
| Merrillville, IN | 36,343 | 101 | 1.1x |
| Crown Point, IN | 34,042 | 98 | 1.1x |
| Hobart, IN | 29,646 | 98 | 1.1x |
| Lansing, IL | 28,415 | 99 | 1.1x |
| Munster, IN | 23,733 | 110 | 1.2x |
| South Holland, IL | 21,016 | 106 | 1.2x |
| Dolton, IL | 20,979 | 97 | 1.1x |
| Dyer, IN | 16,400 | 108 | 1.2x |
