Quick facts: Hobart, IN

Quick Facts

95.3
Cost of Living
below US average
29,458
Population
22.27
Crime Rate per 1000
below US average
$69,398
Median Income
below US average
$279,900
Median House Price
above US average
$1653.0
Average Rent
above US average
8%
Poverty Rate
below US average
5.3%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $69,398.

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Income Needed to Buy

βœ— Stretch
$88k/year
Based on $279,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $88k vs median $69,398
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Income Needed to Rent

⚠ Stretch
$71k/year
Based on $1653.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $71k vs median $69,398
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hobart, IN

Hobart, Indiana, is a vibrant city located in Lake County, part of the Chicago metropolitan area. With a population of around 29,000, it offers a blend of suburban living and small-town charm. Hobart boasts a rich history, established in the 1800s and named after its founder, which is evident in its historic downtown area. The city is known for its community spirit, featuring various local events and festivals throughout the year. The annual "Hobart Art Theater" showcases local artists, while the "Hobart Lakeside Festival" attracts visitors with live music, food, and family-friendly activities. Outdoor enthusiasts can enjoy parks like Lake George and the nearby Deep River County Park, offering trails and recreational opportunities. Additionally, Hobart is conveniently located near major highways, making it accessible to the greater Chicago area for work and leisure. With its welcoming community, rich cultural activities, and beautiful parks, Hobart, IN, stands out as a great place to live, work, and play.

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