A typical Calumet home is worth roughly $156,000
Home prices around Calumet have risen about 64% over the past 5 years.
What kind of housing town is Calumet?
Read from the numbers below. The page puts what stands out first.
A typical home costs 3.3 years of income
About the same as across Indiana. Try your own numbers below.
That covers a typical Calumet home, with $27K to spare.
A two-bedroom rents for about $1,200 a month here, $270 more than owning.
How Calumet ranks on affordability →
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Calumet’s typical property tax (0.87% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
Home prices up 64% in 5 years
The federal house price index for the ZIP codes around Calumet rose 64% over the past 5 years, faster than across Indiana (53%). Last year prices rose 3.6%. Carrying the Census median home value forward with that index puts the typical Calumet home at roughly $156,000 today.
Carrying the Census median forward with the index puts a typical home at about $156K.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Calumet, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A two-bedroom rents for about $1,200
Renters already here pay a median of $1,061, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
How Calumet ranks on rent that’s easy to afford →
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Gary, IN HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
55% of Calumet households own their home
Half of Calumet’s homes were built before 1958.
Indiana: 71% own.
U.S. Census Bureau, American Community Survey 2020-2024.
Calumet vs. its neighbors
Calumet is the 2nd least expensive of 8 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Calumet | $156K* | +3.6%† | $1,200 | — | $46,882 |
| Gary | $92K | −1.3% | $1,180 | 9 | $38,731 |
| Hobart | $246K | +1.2% | $1,340 | — | $70,273 |
| North | $192K* | +2.5%† | $1,300 | — | $61,798 |
| Griffith | $252K | +2.2% | $1,330 | 1 | $76,636 |
| Highland | $269K | +2% | $1,470 | 7 | $78,062 |
| St. John | $461K | +2.2% | $1,400 | — | $103,035 |
| Lake Station | $162K | +0.8% | $1,350 | 0 | $59,591 |
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What Calumet buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.