Michigan City, IN housing market
Typical home value
$190K
▲ 4.3% 1 yr
Typical rent
$1,146/mo
▲ 10.8% 1 yr
Gross rent yield
7.2%
U.S. 6.3%
5-year home value change
+37%
U.S. +20%
Key takeaways
- 1The typical home in Michigan City is worth $189,818, up 4.3% over the past year and up 37% over five years.
- 2Typical rent is $1,146 a month (+10.8% YoY), a gross rent yield of 7.2% (above the Michigan City, IN metro's 5.6%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,043/mo, $103 less than typical rent.
- 4Zillow forecasts the Michigan City, IN metro's home values to change +4.5% over the next 12 months.
Market temperature (Michigan City, IN metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 42/100, #253 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Michigan City compares
| Measure | Michigan City | Michigan City, IN metro | United States |
|---|---|---|---|
| Typical home value | $189,818 | $258,619 | $366,157 |
| Home value, 1-yr change | +4.3% | +4.4% | +1.2% |
| Typical rent | $1,146 | $1,202 | $1,932 |
| Rent, 1-yr change | +10.8% | +7.5% | +2.7% |
| Gross rent yield | 7.2% | 5.6% | 6.3% |
| Price-to-rent ratio | 13.8 | 17.9 | 15.8 |
| Mortgage P&I, typical home | $1,043 | $1,421 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Michigan City rental, pre-filled.
Rent vs buy in Michigan City
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $190K home.
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.