Lake County, Indiana: commercial real estate data.
Lake County, Indiana had an estimated 502,955 residents on July 1, 2024, up 0.9 percent since the 2020 census base of 498,695, across 499 square miles. County output reached $31.24 bn in 2024, 10,566 establishments operate here, and the SBA record carries 473 7(a) approvals worth $225.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Lake County
How many people live in Lake County
- Population, American Community Survey 2020-2024500,379
- Households195,130
- Average household size2.56
- Median household income$71,493
- Median age39.7
- Median gross rent$1,131 per month
- Median owner-occupied home value$230,600
- Home value to household income3.2 times
- Annual rent as a share of median income19.0 percent
- Adults 25 and over with a bachelor degree or higher25.8 percent
- Adults 25 and over with a graduate degree8.5 percent
- Adults 25 and over342,844
- Population under 18115,840
- Share under 1823.2 percent
- Population 65 and over89,442
- Share 65 and over17.9 percent
- Working age population, 18 to 64295,097
- Civilian labor force243,262
- Unemployment rate6.1 percent
- Labor force participation, adults 18 and over63.3 percent
- Rank by population among Indiana counties2nd of 92
- Rank by population among US county-equivalents, Puerto Rico included145th of 3,222
Lake County is the 2nd largest of 92 Indiana counties by population. A median home costs 3.2 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 23.2 percent against 17.9 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lake County
Is Lake County's population growing?
- Population, July 1, 2024502,955
- Census 2020 base population498,695
- Population change since the 2020 census base0.85 percent
- Population change, 2023 to 20242,364
- Births, 20245,463
- Deaths, 20245,185
- Natural change, 2024278
- Net domestic migration, 20241,130
- Net international migration, 2024977
- Total net migration, 20242,107
- Cumulative net domestic migration, 2021 to 20242,212
- Rank by growth among US county-equivalents1530th of 3,144
The county has grown 0.85 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lake County
Where are people moving to Lake County from?
- Tax returns filed by households arriving10,430
- People arriving, from those returns19,485
- Tax returns filed by households leaving10,276
- Net household movement154
- Adjusted gross income arriving$587.5 m
- Net adjusted gross income movement$-75.9 m
- Average income of an arriving household$56,327
- Average income of a leaving household$64,559
- Largest single originCook County (4,475 households)
- Largest single destinationCook County (2,307 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Cook County | 4,475 | 8,718 | $252.0 m |
| Porter County | 1,314 | 2,344 | $69.9 m |
| Will County | 573 | 1,069 | $44.8 m |
| Marion County | 323 | 597 | $10.4 m |
| LaPorte County | 191 | 377 | $7.0 m |
| DuPage County | 171 | 318 | $19.5 m |
| Jasper County | 119 | 211 | $5.9 m |
| Maricopa County | 95 | 165 | $5.1 m |
Households arriving report $8,232 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Cook County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Lake County
What is the Lake County economy?
- County GDP, 2024$31.24 bn
- County GDP, 2023$30.23 bn
- GDP change, 2023 to 20243.3 percent
- GDP change over five years42.2 percent
- Rank by GDP among the Indiana areas BEA publishes3rd of 92
- Rank by GDP among the US county areas BEA publishes190th of 3,127
- GDP per resident$62,437
Output grew 3.3 percent in the latest year and 42.2 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Lake County
Employment by industry in Lake County
- Covered employment, annual average191,633
- Establishments reporting11,872
- Average annual pay$61,200
- Average weekly wage$1,177
- Health care and social assistance, employment33,182
- Health care and social assistance, average annual pay$62,062
- Retail trade, employment22,724
- Retail trade, average annual pay$36,314
- Manufacturing, employment22,497
- Manufacturing, average annual pay$107,985
- Accommodation and food services, employment20,825
- Accommodation and food services, average annual pay$24,050
- Construction, employment11,594
- Transportation and warehousing, employment9,299
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 33,182 | 1,358 | $62,062 |
| Retail trade | 22,724 | 1,514 | $36,314 |
| Manufacturing | 22,497 | 419 | $107,985 |
| Accommodation and food services | 20,825 | 1,090 | $24,050 |
| Construction | 11,594 | 1,076 | $86,002 |
| Transportation and warehousing | 9,299 | 580 | $62,463 |
| Administrative and support and waste management services | 8,986 | 637 | $52,483 |
| Other services, except public administration | 8,046 | 1,031 | $44,112 |
Health care and social assistance is the largest private sector at 33,182 jobs, 17.3 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lake County
How many businesses are in Lake County?
- Establishments, all industries10,566
- Employment at those establishments171,790
- Annual payroll$9.82 bn
- Establishments per 1,000 residents21.1
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Lake County
Building permits in Lake County
- Housing units authorized by permit, 20241,649
- Declared construction value permitted$491.9 m
- Single family units authorized1,621
- Multifamily units authorized28
- Multifamily share of units1.7 percent
- Average declared value per unit$298,285
- Units authorized per 1,000 households8.5
Single-family homes are 98.3 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Lake County
SBA loans in Lake County (7(a) and 504)
- 7(a) approvals recorded473
- 7(a) gross approval dollars$225.8 m
- Average 7(a) approval$477,463
- Median 7(a) approval$156,200
- 10th percentile approval$30,000
- 90th percentile approval$1,242,080
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)5,091
- Jobs per approval10.8
- Distinct 7(a) lenders active65
- Distinct industries receiving approvals165
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer15.0 percent
- Loans on real estate terms71
- Loans on working capital terms, 120 months or shorter379
- Franchise loans106
- Franchise share of approvals22.4 percent
- Leading industry by approval countLimited-Service Restaurants (38)
- Most active lenderCentier Bank (114)
- 504 approvals recorded300
- 504 gross approval dollars$170.1 m
- Average 504 approval$566,873
- Median 504 approval$375,500
- Distinct CDCs active6
- 504 jobs per approval8.6
- 504 jobs per million dollars approved15.1
- Most active CDCRegional Development Company (241)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$395.9 m
The average approval of $477,463 sits well above the median of $156,200, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 15.0 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Lake County
SBA loan default and charge-off rates in Lake County
Do SBA loans in Lake County get paid back?
- Loans with a final outcome recorded82
- Paid in full76
- Charged off6
- Charge-off rate on resolved loans7.3 percent
- Status: Exempt from disclosure297
- Status: Paid in full76
- Status: Cancelled71
- Status: Committed, not yet disbursed23
- Status: Charged off6
Of the 82 loans that have reached a final outcome, 7.3 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
SBA lending by place in Lake County
- Borrower cities with recorded lending23
- Merrillville, approvals102
- Crown Point, approvals81
- Gary, approvals41
- Schererville, approvals41
- Hammond, approvals33
- Highland, approvals31
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Merrillville | 102 | $72,402,200 |
| Crown Point | 81 | $22,303,800 |
| Gary | 41 | $25,005,200 |
| Schererville | 41 | $12,271,400 |
| Hammond | 33 | $25,679,600 |
| Highland | 31 | $8,176,400 |
| St. John | 27 | $6,602,000 |
| Munster | 24 | $6,721,300 |
| 15 other borrower cities | 93 | $46,678,200 |
Merrillville accounts for 102 approvals against 81 in Crown Point. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
How large is Lake County?
- Land area499 sq mi
- Rank by land area among Indiana counties12th of 92
- Width, east to west15.9 mi
- Height, north to south37.8 mi
- Geographies sharing a boundary6
- Residents per square mile of land1,003
- Establishments per square mile21.17
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Lake County
Flood risk in Lake County
- Participation of the county's own NFIP community Lake County, unincorporated areasParticipating, community 180126
- Community Rating System class of the county's own communityClass 10
- Communities in the county in the NFIP Community Status Book20
- Of those, participating in the NFIP20
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 7
- Communities carrying a CRS class3
- Radon levels in Lake County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Lake County (community 180126), participates in the National Flood Insurance Program and carries Community Rating System class 10, a flood insurance premium discount for policies written there. The EPA places Lake County in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 7, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Lake County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Lake County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024500,379
- Households195,130
- Average household size2.56
- Median household income$71,493
- Median age39.7
Common questions
Lake County questions, answered from the record.
How many people live in Lake County, Indiana?
The Census Bureau estimates 502,955 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 500,379, in 195,130 households, ranking 2nd of 92 Indiana counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Lake County's population growing?
The population has grown 0.85 percent since the 2020 census base of 498,695, to 502,955 on July 1, 2024. In 2024 there were 5,463 births against 5,185 deaths, with net migration of 2,107. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Lake County?
$71,493. The median owner-occupied home is valued at $230,600, which is 3.2 times income, and median gross rent is $1,131 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Lake County?
10,566 establishments, employing 171,790 people with an annual payroll of $9.82 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Lake County?
Health care and social assistance is the largest private sector at 33,182 jobs, 17.3 percent of covered employment. Covered employment averages 191,633 jobs at an average annual pay of $61,200, or $1,177 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Lake County?
473 7(a) approvals totaling $225.8 m since FY2020, across 65 lenders, with a median approval of $156,200, plus 300 504 approvals worth $170.1 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Lake County get paid back?
Of the 82 loans that have reached a final outcome, 76 were paid in full and 6 charged off, a charge-off rate of 7.3 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Lake County?
1,649 housing units were authorized by permit in 2024, with a declared construction value of $491.9 m. Multifamily was 1.7 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Lake County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Lake County come from?
The largest single origin is Cook County, with 4,475 households. Arriving households report an average income of $56,327 against $64,559 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Lake County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Lake County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Lake County
Cities and places in Lake.
24 Census places lie wholly or partly in Lake County. All 24 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Hammond | city | 76,768 | 33 | Wholly in this county |
| Gary | city | 68,113 | 41 | Wholly in this county |
| Merrillville | town | 36,476 | 102 | Wholly in this county |
| Crown Point | city | 34,393 | 81 | Wholly in this county |
| Schererville | town | 29,701 | 41 | Wholly in this county |
| Hobart | city | 29,558 | 13 | Wholly in this county |
| East Chicago | city | 26,022 | 11 | Wholly in this county |
| Munster | town | 23,733 | 24 | Wholly in this county |
| Highland | town | 23,680 | 31 | Wholly in this county |
| St. John | town | 22,567 | 27 | Wholly in this county |
| Dyer | town | 16,400 | 19 | Wholly in this county |
| Griffith | town | 16,273 | 15 | Wholly in this county |
| Cedar Lake | town | 15,295 | 10 | Wholly in this county |
| Lake Station | city | 13,185 | 6 | Wholly in this county |
| Lowell | town | 11,073 | 8 | Wholly in this county |
| Winfield | town | 7,816 | None recorded | Wholly in this county |
| Lakes of the Four Seasons | CDP | 7,402 | None recorded | 50.2 percent here, 49.8 percent Porter County |
| Ross | CDP | 6,751 | None recorded | Wholly in this county |
| Whiting | city | 4,532 | 3 | Wholly in this county |
| New Chicago | town | 2,225 | None recorded | Wholly in this county |
| Lake Dalecarlia | CDP | 1,169 | None recorded | Wholly in this county |
| Schneider | town | 230 | None recorded | Wholly in this county |
| Shelby | CDP | 164 | 1 | Wholly in this county |
| Leroy | CDP | 85 | None recorded | Wholly in this county |
A further 7 of the county's 473 SBA 7(a) approvals are to borrowers in cities that match no Census place in Lake County, the largest being Fishers (2), Cedar Lakes (1), Chicago (1). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.