Commercial Real Estate Market in Gary, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
147 active listings and 6,213 off-market properties in Gary, IN. Commercial property asks $80/SF to buy and $16.00/SF/Yr to lease.
Market Trends
Gary, IN spans 93.6 square miles in Lake County, Indiana. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Gary, IN has a median asking sale price of $146/SF (based on 6 listings). Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Gary, IN has a median asking sale price of $75/SF. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial space in Gary, IN has a median asking sale price of $75/SF (based on 5 listings). Vacancy runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily space in Gary, IN has a median asking sale price of $98/SF. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Industrial 46.5%
- Residential 42.3%
- Civic 5%
- Commercial 4.7%
Largest Zones share of zoned land by district
Gary, IN zones 26,474 acres across 26 districts. Commercial zoning covers 4.7% of zoned land, residential 42.3% and industrial 46.5%. The largest single district is Heavy Industrial Manufacturing at 30.1%. For commercial buyers the practical constraint is that only 51.2% of land carries a commercial or industrial designation.
In the M1-1 and M1-2 districts, on every zoning lot a front yard of not less than 25 feet in depth shall be provided. (k) In the M1-1 and M1-2 districts, on every zoning lot a side yard shall be provided along each side lot line. Each side yard shall be not less in width than ten percent of the lot width but need not exceed 20 feet in width, except as may be…
Market overview
Demographics & Economy
Gary, IN has 124,862 residents in 62,317 households. Density runs 1,334 people per square mile. Median household income here is $47,731 and median gross rent $1,082 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Highland | $155 | $16.00 |
| Hobart | $127 | — |
| Hammond | $112 | $16.00 |
Commercial property in Gary, IN asks $80/SF. The 3 bordering markets run from $112/SF in Hammond to $155/SF in Highland, and the city sits below their $127/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Gary?
How much does it cost to lease commercial space in Gary?
How does Gary compare to nearby markets on price?
What zoning applies to commercial property in Gary?
Where does Realmo's Gary market data come from?
Methodology & data sources
- Asking prices and medians
- There are 88 active for-sale and 59 active for-lease listings in Gary, IN. The medians are based on 45 of the for-sale and 17 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 26,474 zoned acres across 26 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
