Merrillville, IN 46410 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Merrillville, IN—46410

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$236,000

0.0% YoY Growth

Household Income

$61,700

8.7% YoY Growth

Days on Market

1.0% Shorter YoY

Home Price Forecast

1.7%

Median Rent

$1,950

15.9% YoY Growth

1-Bed Rent

$1,250

35.6% YoY Growth

2-Bed Rent

$1,450

9.2% YoY Growth

3-Bed Rent

$1,940

1.0% YoY Growth

Home Price Trends — Merrillville, IN

As of Dec '25, the median home price in Merrillville, IN is $236,000, with a year-over-year change of 0.0%. This indicates that home prices in Merrillville, IN are flat. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$236,000	0.0%
Single Family	$238,000	-0.4%
Condos	$169,000	0.6%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Merrillville, IN

As of July '25, Rentcast reports the average rent in Merrillville, IN is $1,900, with a year-over-year rent change of 15.9%. Per bedroom, the median rent as of July '25 in Merrillville, IN is studios: $1,290, 1-bedrooms: $1,260, 2-bedrooms: $1,420, 3-bedrooms: $1,900, 4-bedrooms: $2,520. The most common rental property sizes in Merrillville, IN are 2-bedroom and 1-bedroom, accounting for 42.5% and 34.0% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,950	$1,900
Studio Rent	$850	$1,290
1 Bed Rent	$1,250	$1,260
2 Bed Rent	$1,450	$1,420
3 Bed Rent	$1,940	$1,900
4 Bed Rent	$2,600	$2,520

Loading chart...

% of Rental Stock

Studio

6.5%

1 Bedroom

34.0%

2 Bedrooms

42.5%

3 Bedrooms

15.5%

4 Bedrooms

0.7%

5+ Bedrooms

0.7%

Property Listings — Merrillville, IN

As of Dec '25, Realtor.com reports that the median days on market for a home in Merrillville, IN is 53. This is a decrease of -5.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$275,000	0.0%
Listing Count	128	8.0%
Listings as % of Homes	0.6%	8.0%
Days on Market	58	-1.0%

Loading chart...

Demographics — Merrillville, IN

As of the latest ACS Survey released in 2023, Merrillville, IN has a population of 38,800, which has increased by 2.0% over the past 5 years. Merrillville, IN is a moderately popular place for families, as children make up 21.3% of the population. The area has a poorly educated workforce, with 24.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	38,800	2.0%
% Under 18	21.3%	-8.2%
% Seniors	19.9%	30.1%
% WFH	7.9%	203.8%
% w/ College Degree	24.4%	-0.8%

Loading chart...

As of the latest ACS Survey released in 2023, Merrillville, IN is a predominantly black area, with 46.9% of the population identifying as black. The black population has grown by 2.4% in the last 5 years. The second most common race or ethnicity in Merrillville, IN is white, making up 32.0% of the population. Foreign-born residents account for 6.5% of the population in Merrillville, IN, and this percentage has increased by 41.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	32.0%	-11.8%
% Black	46.9%	2.4%
% Hispanic	15.7%	13.8%
% Asian	1.6%	33.3%
% Foreign Born	6.5%	41.3%

Loading chart...

Mortgage and Risk — Merrillville, IN

According to HUD data as of 2023, there were 630 mortgage originations in Merrillville, IN, of which 56.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Merrillville, IN. Investor activity is low, as 3.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	630
% Conventional Loans	56.0%
% Government Loans	44.0%
% Investor Loans	3.0%
% Second Loans	0.0%
% Cash Out Refinance	19.0%

Loading chart...

Rentals and Section 8 — Merrillville, IN

As of 2024, the percent of homes in Merrillville, IN under the Section 8 program is 8.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Merrillville, IN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD	966
Total Units Section 8	583
% Rentals under Section 8	8.8%
% Occupied Section 8	80.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$60	$1,250	$1,190
2 Bedroom	-$10	$1,450	$1,440
3 Bedroom	-$170	$1,940	$1,770
4 Bedroom	-$690	$2,600	$1,910

Merrillville, IN—46410

Key Metrics at a Glance

Home Price Trends — Merrillville, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Merrillville, IN

% of Rental Stock

Property Listings — Merrillville, IN

Demographics — Merrillville, IN

Race and Ethnicity

Mortgage and Risk — Merrillville, IN

Mortgages

Rentals and Section 8 — Merrillville, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — Merrillville, IN

Home Price to Income Ratio

Merrillville, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Gary, IN

Gary, IN

Crown Point, IN

Hobart, IN

Griffith, IN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.6
Median Home Price	$236,000
Median Household Income	$61,700

Merrillville, IN—46410

Key Metrics at a Glance

Home Price Trends — Merrillville, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Merrillville, IN

% of Rental Stock

Property Listings — Merrillville, IN

Demographics — Merrillville, IN

Race and Ethnicity

Mortgage and Risk — Merrillville, IN

Mortgages

Rentals and Section 8 — Merrillville, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — Merrillville, IN

Home Price to Income Ratio

Merrillville, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Gary, IN

Gary, IN

Crown Point, IN

Hobart, IN

Griffith, IN

Frequently Asked Questions

What is the average home price in Merrillville, IN 46410?

How have home prices in Merrillville, IN 46410 changed over the past year?

What is the home price projection for Merrillville, IN 46410?

What are the demographics of Merrillville, IN 46410?

How long does it take homes to sell in Merrillville, IN 46410?

What is the average rent price in Merrillville, IN 46410?