Market Overview
Home Prices in Lake Station, IN
The median home value in Lake Station, IN is $160,809 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.1% compared to a year ago and down 0.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lake Station are priced61% below average. Lake Station is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Lake Station home values have risen by approximately32.8%, reflecting strong long-term appreciation in this market.
Price History
Lake Station Home Price Trend
City Comparison
Lake Station vs. National Median
At $160,809, homes in Lake Station cost 61% below the national median of $410,000. This makes Lake Station a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lake Station?
20% Down Payment
$32,162
on $160,809
Monthly P&I
$839/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,066/mo
incl. taxes & insurance
Income Needed
$42,640
gross annual (30% rule)
10% Down Option
$16,081
+ PMI applies
Loan Amount (20% dn)
$128,647
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lake Station, IN?
The median home value in Lake Station is $160,809 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.1% year-over-year.
How much have home prices changed in Lake Station?
Over the past year, home values in Lake Station have decreased by 1.1%. Over five years, prices have risen approximately 32.8%.
How much do I need to earn to buy a home in Lake Station?
To comfortably afford the median home price of $160,809 with a 20% down payment ($32,162) at today's rates (6.8%), you'd need a gross annual income of approximately $42,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Lake Station compare to the national average home price?
The national median home value is approximately $410,000. At $160,809, homes in Lake Station are 61% below the national average.
What metro area is Lake Station part of?
Lake Station is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.