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Gary, Indiana is a major city in Northwest Indiana. Gary is located in north-central Lake County, Indiana along the Indiana Lakeshore. The town is home to major industries including U.S. Steel who has a major steel production facility located in Gary. Gary is an extensive city.
Gary saw explosive growth during the early 1900s. At one point the city had nearly 180,000 residents. Today, Gary is home to about 80,000 people. Due to this, Gary has all of the infrastructure needed for a large city. Gary also has direct access to the South Shore Commuter Railline with daily service to Chicago which is only about 20 miles to the northwest. Gary also has the Genesis Convention center and is home to the Gary Railcats minor league baseball team.
Gary saw its decline starting in the 1970s. The American steel industry began to face more competition from foreign producers and as U.S. consumers chose to buy more goods from foreign manufacturers. As residents’ struggled financially, crime rates began to increase. This led some residents to move to nearby suburbs such as Portage, Merrillville, and Schererville, Indiana.
Gary, Indiana real estate is especially diverse. Property for sale in Gary, Indiana includes single family homes of many different styles, townhouses, and duplexes. Additionally, investors attracted by the low prices of Gary realty have been purchasing properties and rehabbing those. Once rehabbed, investors either rent or sell those newly renovated buildings. Single family dwelling makes up the majority of homes for sale in Gary, Indiana.
Houses for sale in Gary, Indiana come in many forms. There are small bungalows in the city, large brownstones in the historic districts, and beautiful lakeshore houses in the Marquette Park and Miller Beach areas. The average sale price for a property in Gary is $74,263. This is far below the combined Northwest Indiana area. The days on the market for houses in Gary, Indiana is 63 days. This is right in line with the average for all of Northwest Indiana. This indicates that there is a market for Gary housing, but also is indicative that real estate appreciation will be aligned with that of the combined Northwest Indiana area. The greater area’s annual appreciation rate is about 3.4% per year.
Quadwalls.com features all of the homes for sale in Gary, Indiana. We update the Gary real estate listings several times per day. Start your search with Quadwalls.com today!
