Michigan City-La Porte, IN
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.56×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Indiana
- 2.80×-0.24
- vs U.S.
- 3.43×-0.87
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
19.6%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Indiana
- 21.8%-2.2
- vs U.S.
- 23.3%-3.7
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.97%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Indiana
- 4.86%+0.11
- vs U.S.
- 4.35%+0.63
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.11%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Indiana
- -0.01%+0.13
- vs U.S.
- 0.03%+0.09
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
2.61
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Indiana
- 2.82
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.1%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Indiana
- 2.6%
- vs U.S.
- 3.9%-0.8
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+59.7%
homeValues.yearOverYear
+5.5%
Median home value
$180,700
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $953 | $11,436 | 16.2% |
| 2 BR | $1,152 | $13,824 | 19.6% |
| 3 BR | $1,454 | $17,448 | 24.8% |
Labor market direction
Unemployment
3.1%
Median household income
$70,452
What's being built
Total TTM
293
+42.9% YoY
Single-family
206
2–4 unit
0
5+ unit
87
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| LaPorte County | 112,215 | $180,700 | $70,452 | 293 | +42.9% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Michigan City | 112,215 | $70,452 | 2.56× | 4.97% | +59.7% | 2.61 | 3.1% |
| Longview, WA | 110,621 | $72,932 | — | — | +42.7% | — | 6.2% |
| Lewiston-Auburn, ME | 111,532 | $67,298 | — | — | +73.9% | — | 3.3% |
| Sheboygan, WI | 117,741 | $71,898 | — | — | +65.9% | — | 2.6% |
| Kankakee, IL | 107,421 | $68,325 | — | — | +49.7% | — | 6.7% |
| Missoula, MT | 118,541 | $70,888 | — | — | +64.7% | — | 3.6% |
Where people are moving in from
Net migration
+129
+0.11% of population
| Origin county | Tax returns |
|---|---|
| Porter County, IN | 527 |
| Lake County, IN | 248 |
| Cook County, IL | 231 |
| St. Joseph County, IN | 214 |
| Berrien County, MI | 96 |
| Starke County, IN | 64 |
Who lives in Michigan City
- Median age
- 41
- Bachelor's+
- 21.7%
- Owner-occupancy
- 74.6%
- Vacancy rate
- 12.4%
- Rent burdened (30%+)
- 40.3%
- Median household income
- $70,452
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.