States › Indiana › Lake Station

Is Lake Station, IN expensive to live in?

OKRent takes 20 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,09338% lower than U.S. average
💵 Families earn per year (2026)$64,269about $5,356/month · 26% lower than U.S. average
🔑 House price$137,40059% lower than U.S. average

Rent is lower than in 82% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $43,720 a year. That is $21 an hour at a full-time job.

Is rent cheaper than other Indiana cities?

Yes. Rent here is cheaper than in most of Indiana. It is number 48 of 132 cities from cheapest to most expensive.

Lake Station
$1,093
Connersville
$938
Auburn
$957
Bedford
$951
Whitestown
$2,162
Speedway
$1,441
Washington
$929

How much do households earn in Lake Station?

Under $25k
13.7%
$25k–50k
29.6%
$50k–100k
34.0%
$100k–150k
13.8%
$150k+
2.3%

Share of households by yearly income. 16.1% of households earn $100,000 or more.

Rent by apartment size in Lake Station

SizeLake StationU.S. average
1 bedroom$1,016$1,324
2 bedrooms$1,152$1,509
3 bedrooms$1,449$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Lake Station overall?

Everyday prices in Indiana overall are 7% below the U.S. average (index 93.3, U.S. = 100).

Housing
74
Goods (food, clothes…)
96
Utilities
86
Other services
99
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lake Station, so the Indiana figure is shown.

Taxes and bills in Lake Station

🏛️ Property tax$1,399a year · 1.02% of home value · U.S. $3,119
⚡ Electric bill$190a month (typical) · U.S. $156

Life in Lake Station

Commute to work26.8 minU.S.: 26.4 min
College degree7.4%U.S.: 35.7%
Own their home72%U.S.: 65.2%
Below poverty line15.4%U.S.: 12.5%
Unemployment16.3%U.S.: 5.2%

Is it cheaper to rent or buy in Lake Station?

Buying is cheaper month to month: about $140 a month less than renting.

Renting
$1,093
Owning
$953

Owning assumes a typical $137,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $13,740 for the down payment.

Frequently asked questions

What is the average rent in Lake Station, IN?

Renting in Lake Station costs a median of about $1,093 a month in 2026, including utilities. The Indiana median is $1,219.

How much do I need to make to live in Lake Station?

To keep rent under 30% of income, you need about $43,720 a year, or $21 an hour at a full-time job.

Is Lake Station cheap or expensive?

Lake Station is rated OK: rent takes 20.4% of the typical household income of $64,269. It ranks 48th cheapest of 132 Indiana cities we track.

How much are property taxes in Lake Station?

The median homeowner in Lake Station pays $1,399 a year in property taxes, about 1.02% of the median home value.

Is Lake Station more expensive than the national average?

Overall prices in Indiana are 7% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Lake Station?

The median home value in Lake Station is $137,400, about 2.1 times the typical yearly household income.

13,185 people live in Lake Station. Numbers are typical (middle) values.