Lake County, Indiana: commercial real estate data.
Lake County, Indiana has a population of 500,379 across 499 square miles, up 0.8 percent since the 2020 census base. 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.
123 sourced county values · tier FULL · 11 sections
Lake County
How many people live in Lake County
- Population500,379
- 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-equivalents145th
Lake County is the 2nd largest of 92 Indiana counties by population. A median home costs 3.2 times median household income, which is an affordable ownership market 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 growing
- Population change since the 2020 census base0.85 percent
- Census 2020 base population498,695
- 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
The county has grown 0.85 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lake County
Where people moving to Lake County come from
- Tax returns filed by households arriving10,430
- People arriving, from those returns19,485
- Adjusted gross income arriving$587.5 m
- Net adjusted gross income movement$0
- Average income of an arriving household$56,327
- Largest single originLake County Non-migrants (187,880 households)
- Largest single destination (187,880 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Lake County Non-migrants | 187,880 | 372,058 | $14.02 bn |
| Cook County | 4,475 | 8,718 | $252.0 m |
| Other flows - Different State | 1,977 | 3,558 | $106.7 m |
| Porter County | 1,314 | 2,344 | $69.9 m |
| Other flows - South | 836 | 1,532 | $39.5 m |
| Other flows - Midwest | 681 | 1,191 | $37.0 m |
| Will County | 573 | 1,069 | $44.8 m |
| Marion County | 323 | 597 | $10.4 m |
The largest single source of arrivals is Lake County Non-migrants, 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 the Lake County economy runs on
- 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 Indiana counties3rd
- Rank by GDP among US county-equivalents190th
- 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
Who employs people in Lake County
- Covered employment, annual average191,633
- Establishments reporting11,872
- Average annual pay$61,200
- Average weekly wage$1,177
- Sector 62, employment33,182
- Sector 62, average annual pay$62,062
- Sector 44-45, employment22,724
- Sector 44-45, average annual pay$36,314
- Sector 31-33, employment22,497
- Sector 31-33, average annual pay$107,985
- Sector 72, employment20,825
- Sector 72, average annual pay$24,050
- Sector 23, employment11,594
- Sector 48-49, employment9,299
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 33,182 | 1,358 | $62,062 |
| Sector 44-45 | 22,724 | 1,514 | $36,314 |
| Sector 31-33 | 22,497 | 419 | $107,985 |
| Sector 72 | 20,825 | 1,090 | $24,050 |
| Sector 23 | 11,594 | 1,076 | $86,002 |
| Sector 48-49 | 9,299 | 580 | $62,463 |
| Sector 56 | 8,986 | 637 | $52,483 |
| Sector 81 | 8,046 | 1,031 | $44,112 |
The largest sector is the biggest private employer group at 33,182 jobs, 17.3 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lake County
What businesses operate 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.
US Census Bureau, County Business Patterns, 2023.
Lake County
What is being built in Lake County
- Housing units authorised by permit, 20241,649
- Declared construction value permitted$491.9 m
- Single family units authorised1,621
- Multifamily units authorised28
- Multifamily share of units1.7 percent
- Average declared value per unit$298,285
- Units authorised per 1,000 households8.5
Multifamily is 1.7 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Lake County
How much SBA lending happens in Lake County
- 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$1,252,600
- 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$378,000
- Distinct CDCs active6
- 504 jobs per approval8.6
- 504 jobs per million dollars approved15.1
- Most active CDCRegional Development Company (241)
- 7(a) share of SBA approvals61.2 percent
- Combined SBA approval dollars$395.9 m
The average approval of $477,463 sits well above the median of $156,200, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually 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
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.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake County
Which parts of Lake County get the lending
- Places in the county with recorded lending23
- Merrillville, approvals102
- CROWN POINT, approvals81
- GARY, approvals41
- Schererville, approvals41
- Hammond, approvals33
- HIGHLAND, approvals31
| Place | 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 |
| SAINT JOHN | 27 | $6,602,000 |
| Munster | 24 | $6,721,300 |
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 big 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 boundary3
- 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.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
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.
- Population500,379
- 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?
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 growing?
The population has grown 0.85 percent since the 2020 census base. 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 there 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 the average wage in Lake County?
Average annual pay is $61,200, or $1,177 a week, across 191,633 covered jobs. 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 totalling $225.8 m since FY2020, across 65 lenders, with a median approval of $156,200, plus 300 504 approvals worth $170.1 m. 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.
What is being built in Lake County?
1,649 housing units were authorised 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 Lake County Non-migrants, with 187,880 households. Arriving households report an average income of $56,327 against null 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.