The median home in Merrillville, Indiana is valued at $233,252, down 0.3% year over year. Typical monthly rent is $1,504, producing a price-to-rent ratio of 12.9x — below the national average of 18x. Merrillville is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

See the full metro analysis: Chicago-Naperville-Elgin, IL-IN-WI stress score, crash risk, and 12-month forecast →

Home Value$233,252

-0.3%

Rent$1,504/mo

AFFORDABILITY

Enter your income for Merrillville.

Income (annual)

Down Payment

$46,650 on $233,252

Affordable — 23.6% of income

Under the 28% guideline.

PITI$1,478

P/I23.6%

Afford$276K

Room+$43K

P&I $1,179Tax $165Ins $133

Buying $26/mo cheaper ($1,504 rent)6.50% 30yr, 20% down, county tax + IN ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in Indiana

Compare Merrillville with other housing markets across Indiana.

Dune Acres$889K Clear Lake$747K Long Beach$720K Zionsville$661K Carmel$548K Michiana Shores$540K Ogden Dunes$467K Westfield$460K

Full Chicago-Naperville-Elgin, IL-IN-WI analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Chicago-Naperville-Elgin, IL-IN-WI metro.

View Chicago-Naperville-Elgin, IL-IN-WI metro →

MERRILLVILLE, IN