Housing market/Indiana/ZIP 46385
ZIP 46385 Valparaiso, Indiana
Gary, IN HUD Metro FMR Area · Indiana. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 46385 · IN — sent to you.
ZIP 46385 · IN
ACS rent vs 2BR SAFMR
ZIP 46385 — Valparaiso, IN HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 46385
- 1-unit detached14,09587.7%
- 1-unit attached6704.2%
- 2–4 units2371.5%
- 5–49 units6504.0%
- 50+ units260.2%
- Mobile3932.4%
2–4 unit share 1.5% · 5–49 unit share 4.0% · combined 2–49 5.5%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,225 (all bedrooms, occupied rentals).
- Median contract rent $1,060.
- Renters paying ≥30% of income 36.7%; ≥50% 16.5%.
- FY2027 2BR SAFMR $1,590 (1.298× ACS median gross rent).
Population
41,390 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +5.2%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 2 projects, 212 units.
- HUD project-based assisted MF: not published for this ZIP.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 0 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 46385 12.1% of occupied households are renters; vacancy is 4.2%; ACS median gross rent is $1,225; population increased +5.2% between the 2018 and 2023 ACS vintages; the housing stock includes 237 units in 2–4-unit structures and 650 units in 5–49-unit structures; 2 LIHTC projects totaling 212 units; FY2027 2BR SAFMR is $1,590 versus ACS median gross rent of $1,225. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
Indiana research
ZIP 46385 is a Census / HUD profile for Gary, IN. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 46385 — Valparaiso, IN HUD Section 8 Payment Standards / SAFMR·Indiana ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Indiana research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 46385?
ZIP 46385 (Gary, IN HUD Metro FMR Area) has 41,390 residents, 15,395 households, a renter share of 12.1%, median household income of $97,208, and ACS 2023 median gross rent of $1,225. Vacancy is 4.2%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 46385?
ACS counts 45 units in 2-unit buildings, 192 in 3–4 unit buildings, 320 in 5–9, 267 in 10–19, and 63 in 20–49. Combined 2–49 unit stock is 887 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 46385?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,590. See the full schedule and 90–110% payment-standard band on the ZIP 46385 — Valparaiso, IN HUD Section 8 Payment Standards / SAFMR.
Does this Indiana ZIP profile include Georgia listings?
No. ZIP 46385 is Census / HUD research for Gary, IN HUD Metro FMR Area. Jeff Crowe CRE does not list Indiana property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.