Gary, Indiana Short-Term Rental Market
Gary, IN STRs averaged $157/night at 54.5% occupancy in April 2026 across 7,823 active listings.
Quick Answer: Gary, Indiana is an active short-term rental market. average occupancy is 55%. average monthly revenue is $2,181. average daily rate is $157. the top operator is Evolve with 171 listings. market score is 78/100 (grade B).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Gary, Indiana anchors a short-term rental market of 7,823 active listings that draws primarily from the Chicago metro area via its Lake Michigan beaches, Indiana Dunes National Park access, and Hard Rock Casino Northern Indiana. In April 2026, the market posted an average daily rate of $157 and occupancy of 54.5%, generating average monthly revenue of $2,181 per active listing. RevPAR stood at $85.49.
Year-over-year through April 2026, all three key indicators improved: occupancy rose 4.95 percentage points, ADR climbed 3.16%, and revenue grew 3.83%. The 2025 full-year average ADR was $180 at 52.5% occupancy, producing average annual revenue of approximately $32,064 per listing.
Listing composition skews strongly toward entire-place rentals, which make up 7,129 of 7,823 total listings (91.1%). Private rooms account for 692 listings and shared rooms for just 2. By bedroom count, 1-bedroom units lead with 2,454 listings, followed by 2-bedroom (2,186), 3-bedroom (1,828), 4-bedroom (787), and 5-bedroom-plus (554). Airbnb dominates distribution with 4,182 Airbnb-only listings, 497 VRBO-only, and 3,144 listed on both platforms. The market’s investability score is 96.75 out of 100, with a total market score of 78.28.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 39% | $129 | $1,541 |
| Feb | 48% | $129 | $1,541 |
| Mar | 51% | $135 | $1,849 |
| Apr | 51% | $143 | $1,893 |
| May | 53% | $167 | $2,192 |
| Jun | 62% | $212 | $3,351 |
| Jul | 67% | $221 | $3,995 |
| Aug | 59% | $212 | $3,451 |
| Sep | 50% | $183 | $2,482 |
| Oct | 51% | $165 | $2,400 |
| Nov | 47% | $153 | $2,017 |
| Dec | 45% | $147 | $1,887 |
Top Short-Term Rental Operators in Gary
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 171 | 6,322 | ★ 4.70 |
| 2 | Beachwalk Vacation Rentals | 139 | 4,331 | ★ 4.72 |
| 3 | General Manager of Hills O' Brown Vacation Rentals | 71 | 2,216 | ★ 4.70 |
| 4 | Imperial Access Rental | 48 | 138 | ★ 4.68 |
| 5 | MTM Premier Property Management | 40 | 1,054 | ★ 4.78 |
What Kind of STR Should I Buy in Gary?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,454 |
| 2 bed | 2,186 |
| 3 bed | 1,828 |
| 4 bed | 787 |
| 5 bed | 554 |
ADR by Property Tier
| Entire Home | $165 |
| Luxury | $314 |
| Professionally Managed | $198 |
Revenue by Dwelling Type
| Apartment | $1,712 |
| Entire Place | $2,291 |
| House | $2,376 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 53.5% |
| vrbo | 6.4% |
| both | 40.2% |
Investment Analysis
Gary’s STR investability score of 96.75 out of 100 reflects strong rental demand (score 79.53) and steady revenue growth (score 62.46). At an April 2026 ADR of $157 and monthly revenue of $2,181, an investor annualizing that figure projects roughly $26,168 per year at the April run rate. The 2025 annual average revenue of $2,672/month suggests an annual gross of approximately $32,064.
Tier differentials are meaningful. Entire-home listings average $165/night compared to the market-wide $157. Professionally managed properties command $198/night, a 26% premium over the overall average. Luxury tier listings averaged $314/night in April 2026, nearly double the market average, signaling demand headroom at the upper end.
Apartment-type listings averaged $1,712/month in April versus $2,377 for houses and $2,291 for entire-place units broadly. Housing price data from Zillow was not available for this market at the time of this report, so a gross yield calculation cannot be computed. Investors should obtain current comparable sale prices directly before modeling returns. Revenue growth has been positive for three consecutive years (2023 through 2025 annual averages: $2,598, $2,609, $2,672), and the April 2026 year-over-year revenue gain of 3.83% continues that trend.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Gary STR guests book an average of 39.5 days in advance, a moderate lead time that reflects a mix of weekend getaway planners and event-driven bookings tied to casino visits and dunes trips. This roughly 5.5-week window gives operators meaningful pricing flexibility to adjust rates as dates approach without sacrificing fill rates.
Average length of stay is 4.1 nights, longer than a typical urban market. This reflects the destination character of the market: guests traveling from Chicago for a dunes or casino trip tend to book multi-night stays rather than single nights. Longer stays reduce turnover costs and cleaning frequency while stabilizing weekly revenue. Operators should consider minimum-stay requirements of 2 to 3 nights, particularly during peak summer weekends, to avoid single-night gaps that reduce effective occupancy.
Short-Term Rental Regulations
Gary enacted a formal short-term rental ordinance on March 7, 2023, with enforcement beginning June 30, 2023. Operators must obtain a short-term rental permit and a city business license. The permit fee is $150 as a one-time charge. Indiana state law (HB 1035, 2018) prohibits municipalities from imposing recurring annual STR fees, which limits cost recovery for enforcement but also caps operator recurring costs.
Owner-occupied properties may operate as STRs in residential zones with the permit and license in place. Non-owner-occupied (investor) properties must obtain a special use variance through the Board of Zoning Appeals before operating. This additional step adds time and cost for investors who do not reside on-site. Violations are classified as a Class C infraction; repeated noise, parking, or nuisance violations can result in license revocation.
On taxes, STR stays are subject to the Lake County innkeeper’s tax of 5% plus Indiana’s 7% state sales tax, for a combined tax load of 12% on gross rental revenue. Enforcement severity is rated moderate. The ordinance was described by council members as a compromise subject to future amendment. Operators should confirm current permit procedures with the City of Gary directly, as the framework was relatively new as of 2023.
Market Comparison
Gary’s 54.5% April 2026 occupancy compares favorably to the US STR median occupancy of approximately 55%, placing it near the national average. The market ADR of $157 is below the national median of approximately $220, reflecting Gary’s positioning as a drive-market destination rather than a premium resort or urban market.
The market’s investability score of 96.75 out of 100 is a standout metric, driven primarily by rental demand strength (79.53) and a large active listing base that demonstrates proven guest acceptance. The total market score of 78.28 reflects moderate regulation (66.56) and seasonality risk (59.62) as offsets.
Among property managers, Evolve leads with 171 listings and 6,322 reviews at a 4.70 average rating. Beachwalk Vacation Rentals operates 139 listings with 4,331 reviews at 4.72. General Manager of Hills O’ Brown Vacation Rentals manages 71 listings with 2,216 reviews at 4.70. These three operators collectively manage 381 listings, roughly 4.9% of the 7,823-listing market, suggesting the market is largely owner-operated with room for professional management to grow.
Frequently Asked Questions About Gary, Indiana
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