Home Insurance in Gary, Indiana
With a median home value of $94,700, Gary is 59% lower than the Lake County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Gary was built around 1957. About 58% of homes were built before 1960, about 18 points above Lake County's 39%.
The housing stock in Gary is 77% single-family homes, 13% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
In Gary, about 38% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 28%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 49% of occupied homes in Gary are owner-occupied.
Most homes in Gary - 86% - are primarily heated with natural gas.
What's the biggest home insurance risk near Gary? FEMA's National Risk Index points to tornado (Very High) in Lake County and Lake County had 1,005 active NFIP flood policies as of September 2026. See the full Lake County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Indiana is $1,259 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $94,700 |
|---|---|
| Median year built | 1957 |
| Owner-occupied share | 49% |
| Share of owner-occupied homes with a mortgage | 38% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Lake County | 1,005 |
| Home insurance premium | $1,259 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)