How much is a home worth in ZIP code 46323?

The typical home in 46323 is worth $187,480, based on the Zillow Home Value Index.

Are home values rising in 46323?

Home values in 46323 are up 0.6% over the past year, and up 5.4% a year over five years.

What is the typical rent in 46323?

A typical home in 46323 rents for about $1,447 a month, a gross rental yield of 9.3%.

What is the property tax rate in 46323?

The effective property tax rate in 46323 is 0.9% — roughly $1,641 a year on a typical home.

ZIP code 46323 has a population of 23,047 and a median household income of $59,688.

HousingHandbookReference data

…

U.S. ZIP Code · IN46323

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

Typical home value

$187,480^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.6%
5-year / yr: +5.4%
10-year / yr: +8.1%

Relative price

vs U.S.: -34.0%
vs metro: -44.4%
vs state: -19.0%

Price history

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

The typical home in 46323 is worth $187,480 — 44.4% below the Chicago-Naperville-Elgin, IL-IN median. Over the past year, values have risen 0.6%. Homes here rent for a typical $1,447 a month — a 9.3% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

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

Monthly rent: $1,447^[2]
Gross yield: 9.3%^[2]
Cap rate: 5.6%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $1,641^[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: 23,047^[3]
Median household income: $59,688^[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: 6
Elementary: 3
Middle: 1
High: 2

Morton Senior High School
High · Grades 9–12 · School City of Hammond
1,534 students
Charles N Scott Middle School
Middle · Grades 7–8 · School City of Hammond
734 students
Joseph Hess Elementary School
Elementary · Grades PK–6 · School City of Hammond
686 students
Warren G Harding Elementary School
Elementary · Grades PK–6 · School City of Hammond
643 students
Morton Elementary School
Elementary · Grades PK–6 · School City of Hammond
525 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 yield9.3%

Net yield (after ~40% expenses)5.6%

Annual rent$17,361

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$948

Loan principal$149,984

Down payment$37,496

Total interest paid$191,296

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 ratio0.86

Monthly cost to own$1,242

Monthly rent$1,447

Owning is meaningfully cheaper month-to-month.

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: 36th percentile^[1]
Rental yield: 83rd percentile^[2]
Property tax: 7th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46323?: The typical home in 46323 is worth $187,480, based on the Zillow Home Value Index.
Are home values rising in 46323?: Home values in 46323 are up 0.6% over the past year, and up 5.4% a year over five years.
What is the typical rent in 46323?: A typical home in 46323 rents for about $1,447 a month, a gross rental yield of 9.3%.
What is the property tax rate in 46323?: The effective property tax rate in 46323 is 0.9% — roughly $1,641 a year on a typical home.
Who lives in 46323?: ZIP code 46323 has a population of 23,047 and a median household income of $59,688.

#Comparable ZIPs

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

60633 vs 46323 →
Chicago, IL
Typical home
$187,404
Gross yield
13.3%
46377 vs 46323 →
Shelby CDP, IN
Typical home
$185,878
Gross yield
—
60418
Crestwood, IL
Typical home
$183,150
Gross yield
—
47963
Morocco, IN
Typical home
$191,903
Gross yield
—
60484
University Park, IL
Typical home
$192,025
Gross yield
12.9%
60469
Posen, IL
Typical home
$193,609
Gross yield
—

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#Jump to section

U.S. ZIP Code · IN46323

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