How much is a home worth in ZIP code 46321?

The typical home in 46321 is worth $350,843, based on the Zillow Home Value Index.

Are home values rising in 46321?

Home values in 46321 are up 2.9% over the past year, and up 4.3% a year over five years.

What is the typical rent in 46321?

A typical home in 46321 rents for about $2,318 a month, a gross rental yield of 7.9%.

What is the property tax rate in 46321?

The effective property tax rate in 46321 is 1.1% — roughly $3,939 a year on a typical home.

ZIP code 46321 has a population of 23,733 and a median household income of $110,187.

HousingHandbookReference data

…

U.S. ZIP Code · IN46321

Lake County · Chicago-Naperville-Elgin, IL-IN

Typical home value

$350,843^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.9%
5-year / yr: +4.3%
10-year / yr: +5.1%

Relative price

vs U.S.: +23.5%
vs metro: +4.1%
vs state: +51.6%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 46321 is worth $350,843 — 4.1% above the Chicago-Naperville-Elgin, IL-IN median. Over the past year, values have risen 2.9%. Homes here rent for a typical $2,318 a month — a 7.9% gross rental yield. The effective property tax rate is 1.1%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,318^[2]
Gross yield: 7.9%^[2]
Cap rate: 4.8%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.1%^[3]
Typical annual tax: $3,939^[3]

#Climate risk

FEMA National Risk Index ratings for Lake County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Very Low
Wildfire: Relatively Low
Drought: No Rating
Heat wave: Relatively Moderate
Hurricane: Very Low
Tornado: Very High
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 23,733^[3]
Median household income: $110,187^[3]

#Migration

Household moves in and out of Lake County over a year, from IRS tax-return data.

Net migration: -162^[5]
Moved in: 10,188
Moved out: 10,350

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 5
Elementary: 3
Middle: 1
High: 1

Munster High School
High · Grades 9–12 · School Town of Munster
1,524 students
Wilbur Wright Middle School
Middle · Grades 6–8 · School Town of Munster
943 students
Frank H Hammond Elementary School
Elementary · Grades PK–5 · School Town of Munster
647 students
James B Eads Elementary School
Elementary · Grades K–5 · School Town of Munster
517 students
Ernest R Elliott Elementary School
Elementary · Grades K–5 · School Town of Munster
487 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield7.9%

Net yield (after ~40% expenses)4.8%

Annual rent$27,819

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,774

Loan principal$280,674

Down payment$70,169

Total interest paid$357,984

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.03

Monthly cost to own$2,394

Monthly rent$2,318

Owning and renting are roughly even.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 19th percentile^[1]
Rental yield: 70th percentile^[2]
Property tax: 14th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46321?: The typical home in 46321 is worth $350,843, based on the Zillow Home Value Index.
Are home values rising in 46321?: Home values in 46321 are up 2.9% over the past year, and up 4.3% a year over five years.
What is the typical rent in 46321?: A typical home in 46321 rents for about $2,318 a month, a gross rental yield of 7.9%.
What is the property tax rate in 46321?: The effective property tax rate in 46321 is 1.1% — roughly $3,939 a year on a typical home.
Who lives in 46321?: ZIP code 46321 has a population of 23,733 and a median household income of $110,187.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

60513 vs 46321 →
Brookfield, IL
Typical home
$350,723
Gross yield
6.5%
60002 vs 46321 →
Antioch, IL
Typical home
$351,130
Gross yield
7.9%
60030
Grayslake, IL
Typical home
$351,576
Gross yield
7.8%
60431
Joliet, IL
Typical home
$351,823
Gross yield
9.8%
60640
Chicago, IL
Typical home
$349,589
Gross yield
6.9%
60504
Aurora, IL
Typical home
$352,355
Gross yield
7.4%

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#Jump to section

U.S. ZIP Code · IN46321

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