Gary Section 8 Cash Flow: Reliable Yield, Wide Voucher Range
Gary, IN grades B on CloseHound — reliable Section 8 cash flow with the right property, worth screening regularly. The median 3-bedroom voucher of $1,450/mo supports a price near $145,000, and the 3-bed range is notably wide, $1,310 to $1,730 across six Lake County ZIPs, so the ZIP you pick matters.
The honest catch: with that spread between low and high vouchers, two homes a mile apart can underwrite very differently — this is a screen-each-address market, not a buy-the-metro one. The carry is light, with property tax about 0.85% and insurance near 0.6%. Run any Gary property free on CloseHound to confirm the voucher beats the price on that specific block.
Gary HUD Section 8 voucher rents by ZIP (FY2026)
Official HUD Small Area Fair Market Rents — the voucher ceiling a landlord can collect in each ZIP, by bedroom count.
| ZIP code | 2-bed | 3-bed | 4-bed |
|---|---|---|---|
| 46402 | $1,120/mo | $1,370/mo | $1,480/mo |
| 46404 | $1,200/mo | $1,470/mo | $1,590/mo |
| 46406 | $1,170/mo | $1,430/mo | $1,550/mo |
| 46407 | $1,070/mo | $1,310/mo | $1,420/mo |
| 46408 | $1,210/mo | $1,480/mo | $1,600/mo |
| 46409 | $1,410/mo | $1,730/mo | $1,870/mo |
Source: HUD FY2026 SAFMR. CloseHound underwrites live listings against these exact ceilings.
More Section 8 markets in Indiana
Gary Section 8 FAQ
What's the Section 8 voucher rent for a 3-bed in Gary?+
The median 3-bedroom voucher rent in Gary is about $1,450/mo for FY2026, with a wide range of $1,310 to $1,730 across sampled Lake County ZIPs.
Is Gary a good Section 8 market?+
Yes, with care. Gary grades B, meaning reliable cash flow with the right property. The wide voucher range means returns vary sharply by ZIP, so screen each address.
What price does the Gary voucher support?+
At the $1,450/mo median 3-bed voucher, the 1% rule supports a price near $145,000. Low property tax around 0.85% and insurance near 0.6% keep the carrying cost down.
Why does the ZIP matter so much in Gary?+
The 3-bed voucher ranges from $1,310 to $1,730 — a $420/mo spread — so identical homes in different ZIPs can produce very different cash-on-cash. Screening each address on CloseHound is the only way to catch the strong deals.
Screen Gary deals free
See which Gary listings actually cash-flow on the voucher — underwritten and ranked by Deal Score.
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