Land and home values in Merrillville, IN
Merrillville is a town in Lake County, Indiana, home to about 36,476 people. Residential land runs about $4.33 per sq ft, the typical home is worth about $236,000, and a 2-bedroom rents for about $1,450 a month, as of October 12, 2026.
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| Land: residential | $4.33 | per sq ft |
| Land: residential | $188,528 | per acre |
| Land: quarter-acre lot | $47,132 | 10,890 sq ft |
| Home: typical (median) | $236,000 | value |
| Home: entry-level | $204,000 | lower quartile |
| Home: upper-end | $301,000 | upper quartile |
| Build new | $194 | per sq ft, no land |
| Rent: 1-bedroom | $1,190 | per month |
| Rent: 2-bedroom | $1,450 | per month |
| Rent: 3-bedroom | $1,780 | per month |
| Rent: 4-bedroom | $1,930 | per month |
| Gross yield, 2-bed | 7.4% | a year |
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Questions people ask
How much is land worth in Merrillville, IN?
Residential land in Merrillville, IN is about $4.33 per square foot, or $188,528 an acre, as of October 2026. A quarter-acre lot (10,890 sq ft) is about $47,132. Smaller lots sell for more per square foot and large tracts for less.
What is the typical home value in Merrillville, IN?
The typical (median) home in Merrillville, IN is worth about $236,000, with entry-level homes around $204,000 and upper-end homes around $301,000, as of October 2026.
How much is rent in Merrillville, IN?
A 2-bedroom rents for about $1,450 a month in Merrillville, IN, a 1-bedroom about $1,190 and a 3-bedroom about $1,780 (gross rent including utilities, HUD Fair Market Rent basis).
Is this an appraisal?
No. Indicative values for screening, budgeting and negotiation, not an appraisal. For lending, a tax appeal or legal use, hire a state-licensed or certified appraiser.