What is the Best Neighborhoods USA ranking for Black Oak?
Black Oak is ranked #4 of 9 eligible neighborhoods in Gary; #559 of 656 eligible neighborhoods in IN; and #11,279 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Black Oak
Gary, IN | Lake County
Scored premium profile
Best Neighborhoods USA Index
39.1
Stability and Strength
35.3
Value Opportunity
47.5
Momentum
33.3
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Gary, IN |
| County | Lake County |
| National rank | #11,279 of 14,967 |
| State rank | #559 of 656 |
| City rank | #4 of 9 |
| County rank | #6 of 11 |
| National percentile | 24.6 |
| National band | LOWER_25_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $108,036 |
| Year-over-year home value change | -3.6% |
| Month-over-month home value change | 0.46% |
| Home value to income ratio | 3.61 |
| Median household income | $29,951 |
| Bachelor's degree or higher | 8.7% |
| Civilian unemployment rate | 1.5% |
| Homeownership rate | 60.2% |
| Housing vacancy rate | 15.2% |
| Rent burden 30% or higher | 46.0% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Black Oak
Is Black Oak one of the best neighborhoods in Gary?
Black Oak has a Best Neighborhoods USA Index of 39.1 and a city ranking of #4 of 9 eligible neighborhoods in Gary.
How much are homes worth in Black Oak?
The current Zillow Home Value Index for Black Oak is approximately $108,036.
Are home values rising or falling in Black Oak?
Zillow neighborhood values changed -3.6% year over year and 0.46% month over month.
What is the Neighborhood Momentum Score for Black Oak?
Black Oak has a Neighborhood Momentum Score of 33.3. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Black Oak?
The NDS-derived neighborhood median household income is approximately $29,951.
How affordable is Black Oak relative to household income?
The current Zillow home-value-to-household-income ratio is 3.61. Price-to-income affordability is a major Value Opportunity input.
Is Black Oak primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 60.2%.
What is the unemployment rate in Black Oak?
The NDS-derived civilian unemployment rate is approximately 1.5%.
How educated are residents of Black Oak?
Approximately 8.7% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Black Oak face high rent burden?
Approximately 46.0% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Black Oak?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications31
Estimated originations13
Home-purchase applications9
Origination rate42.2%
Home-purchase share29.1%
Average application loan$106,046
Total application loan amount$3,296,424
National application rank#9,094 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 20.0% YoY; originations 16.7% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.