Lake Station, IN Cost Of Living

Demographics | Cost Of Living
Updated: 2023-11-15

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 93, 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 #88 cheapest in Indiana out of 124.

  • Lake Station ranks as the #2,137 cheapest out of 6,412 in the US.

  • The median home value in Lake Station is $88,700.

  • The median income in Lake Station is $50,852.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
93
Lake Station's Overall Cost Of Living
0.9x
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 93, 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 higher than Indiana's index of 91.

The standard of living in Lake Station ranks as #88 most affordable out of the 124 places we measured in Indiana. By definition, that implies Lake Station ranks as the #36 most expensive place in the Hoosier State.

For more reading on life in Lake Station, check out:

88 out of 124
In Indiana
2,137 out of 6,412
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 115.

  • The Groceries index in Lake Station is 108.

  • The Health index in Lake Station is 100.

  • The Housing index in Lake Station is 56.

  • The Transportation index in Lake Station is 116.

  • The Utilities index in Lake Station is 95.

Living Expense Lake Station Indiana National Average
Overall 93 91 100
Services 115 94 100
Groceries 108 96 100
Health 100 101 100
Housing 56 77 100
Transportation 116 95 100
Utilities 95 106 100
For more reading on cost of living around Indiana, check out:
Lake Station Cost of Living Vs. IN

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 2017-2021. The key points are:

  • The Median Home Value in Lake Station is $88,700.

  • The Median Rent in Lake Station is $953.

  • The Median Income in Lake Station is $50,852.

  • The Home Value To Income in Lake Station is 1.7x.

  • The Rent To Monthly Income in Lake Station is 0.22x.

Statistic Lake Station Indiana United States
Median Home Value $88,700 $158,500 $244,900
Median Rent $953 $891 $1,163
Median Income $50,852 $61,944 $69,021
Home Value To Income 1.7x 2.6x 3.5x
Rent To Monthly Income 0.22x 0.17x 0.2x
Search Homes For Sale In Lake Station, IN
$88,700
Median Home Value
$953
Median Rent
$50,852
Median Income

Lake Station, IN Costs By Category

Detailed Lake Station Services Costs Vs. Indiana

Item Lake Station Indiana
Shampoo $1.06 $1.06
Movie $14.85 $10.68
Bowling $15.76 $14.67
Haircut $27.76 $18.62
Beauty Salon $65.57 $39.05

Detailed Lake Station Groceries Costs Vs. Indiana

Item Lake Station Indiana
Ground Beef $4.87 $4.22
Fried Chicken $1.99 $1.39
Milk $2.42 $2.05
Potatoes $3.23 $3.29
Pizza $12.0 $10.62
Beer $8.61 $9.38
Toothpaste $2.46 $2.34

Detailed Lake Station Health Costs Vs. Indiana

Item Lake Station Indiana
Optometrist $96.76 $108.57
Doctor $104.96 $116.17
Dentist $101.82 $99.13

Detailed Lake Station Transportation Costs Vs. Indiana

Item Lake Station Indiana
Gasoline $2.51 $2.22
Tire Balancing $56.85 $50.07

Detailed Lake Station Utilities Costs Vs. Indiana

Item Lake Station Indiana
All Electricity $131.89 $167.67
Phone $203.16 $175.64

Lake Station SnackAbility

5
/10
Overall SnackAbility
Jobs
4/10
Housing
6
Affordability
8
Diversity
8.5
Safety
N/A
Amenities
8.5
Education
4
Commute
6

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 91, 1.0x Lake Station.

  • Portage, IN has a cost of living index of 101, 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 69,739 91 1.0x
Portage, IN 37,540 101 1.1x
Merrillville, IN 36,196 101 1.1x
Crown Point, IN 33,518 99 1.1x
Hobart, IN 29,516 99 1.1x
Lansing, IL 28,916 98 1.1x
Munster, IN 23,717 109 1.2x
Dolton, IL 21,588 99 1.1x
South Holland, IL 21,524 106 1.1x
Dyer, IN 16,422 108 1.2x

Articles About Indiana

Enjoy The Snack?