Hammond appreciation rates and housing market information

Hammond housing market information

With 83,048 people, 34,139 houses or apartments, and a median cost of homes of $124,918, house prices in Hammond are solidly below the national average.

single-family detached homes are the single most common housing type in Hammond, accounting for 67.64% of the city's housing units. Other types of housing that are prevalent in Hammond include large apartment complexes or high rise apartments (15.89%), duplexes, homes converted to apartments, or other small apartment buildings (12.92%), row houses and other attached homes (2.53%), and a few mobile homes or trailers (1.03%).

People in Hammond primarily live in small (one, two, or no bedroom) single-family detached homes. Hammond has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Hammond's housing was primarily built during this period, from the '40s through the '60s. A full 60.25% of the city's housing hails from this era. Other housing ages represented in Hammond include homes built between 1939 and earlier (28.17%), and housing constructed from 1970-1994 (10.62%). There's also some housing in Hammond built between 1995 and later (.96%).

Hammond home appreciation rates

Hammond's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hammond during the period has been just 5.95%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Hammond home appreciation rates, at 0.57%, have been at or slightly above the national average. In the latest quarter, Hammond's appreciation rate has been 0.89%, which annualizes to a rate of 3.56%.

Relative to Indiana, our data show that Hammond's latest annual appreciation rate is higher than 18% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hammond differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hammond - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Hammond real estate investment or home purchase decisions.