New Chicago, IN
Population 2,348 · Indiana
About New Chicago, IN
New Chicago is a small town located in Indiana with a population of 2,348 residents according to the latest US Census Bureau American Community Survey data. The median household income is $54,700 per year, which is 27% below the national median of $75,149. The median age of 30.4 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in New Chicago features a median home value of $118,900, which is 51% below the national median of $244,900. This makes New Chicago one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,090, 6% below the national average of $1,163/month. Of the 980 total housing units, 68% are owner-occupied (578 units) and 32% are renter-occupied (270 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Chicago shows an unemployment rate of 7.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 15.9%, above the national average of 12.4%. Workers in New Chicago have an average one-way commute time of 24 minutes.
Education & Demographics
17.0% of New Chicago residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 30.8% White, 0.1% Hispanic or Latino, 4.1% Black or African American, and 5.3% Asian residents, with 9.1% of the population being foreign-born.
Cost of Living in New Chicago, IN
Compared to national averages, New Chicago has a median household income of $54,700 (27% below the national median of $75,149). Home values average $118,900, which is 51% below the national median. Monthly rent at $1,090 is 6% below the US average of $1,163. Within Indiana, New Chicago's income is 21% below the state average of $69,330, and home values are 27% below the state median of $163,409.
Why Live in New Chicago, IN?
New Chicago offers affordable housing with a median home value of $118,900, below the US average of $244,900, and rent that’s lower than the national average at $1,090/month, and short commute times averaging just 24 minutes.
Potential considerations include median household income ($54,700) that falls below the national average. However, New Chicago’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Chicago has a population of 2,348 with a median age of 30.4 years. Compare New Chicago with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near New Chicago
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Ferdinand | 2,346 | $74,943 | $172,700 | Compare |
| Spencer | 2,308 | $47,994 | $146,300 | Compare |
| Brooklyn | 2,410 | $60,742 | $117,800 | Compare |
| Fowler | 2,286 | $51,654 | $110,300 | Compare |
| Jasonville | 2,269 | $36,607 | $66,400 | Compare |
| Kouts | 2,261 | $75,854 | $223,700 | Compare |
| Shadeland | 2,257 | $88,125 | $261,300 | Compare |
| Bloomfield | 2,440 | $51,144 | $108,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Chicago With Other Cities
Frequently Asked Questions about New Chicago
What is the population of New Chicago, IN?
The population of New Chicago, IN is 2,348 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Indiana.
What is the median household income in New Chicago?
The median household income in New Chicago, IN is $54,700 per year, which is 27% below the national median of $75,149.
What is the median home value in New Chicago?
The median home value in New Chicago, IN is $118,900, which is 51% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Chicago?
The median monthly rent in New Chicago, IN is $1,090, which is 6% below the national average of $1,163/month.
What is the unemployment rate in New Chicago?
The unemployment rate in New Chicago, IN is 7.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Chicago, IN a good place to live?
New Chicago offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 2,348 and a median age of 30.4, the city appeals to young professionals and families.
How educated is New Chicago, IN?
17.0% of residents in New Chicago aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New Chicago?
Key cost-of-living indicators for New Chicago, IN: median home value is $118,900 (51% below national), median rent is $1,090/month, and median household income is $54,700. The home-value-to-income ratio is 2.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Chicago?
The poverty rate in New Chicago, IN is 15.9%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is New Chicago, IN?
New Chicago's population is 30.8% White, 0.1% Hispanic or Latino, 4.1% Black or African American, 5.3% Asian, and 2.0% two or more races. 9.1% of residents are foreign-born.