Hammond, IN


Highest Appreciating Hammond Neighborhoods Since 2000

Hammond, IN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hammond Housing Market Information

With 77,614 people, 28,282 houses or apartments, and a median cost of homes of $86,410, house prices in Hammond are some of the most affordable in Indiana as well as the nation.

Single-family detached homes are the single most common housing type in Hammond, accounting for 73.55% of the city's housing units. Other types of housing that are prevalent in Hammond include large apartment complexes or high rise apartments ( 11.94%), duplexes, homes converted to apartments or other small apartment buildings ( 9.98%), and a few row houses and other attached homes ( 3.41%).

The most prevalent building size and type in Hammond are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.75% owning and 39.25% renting.

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 52.60% of the city's housing hails from this era. Other housing ages represented in Hammond include homes built before 1939 ( 32.39%) and housing constructed between 1970-1999 ( 12.63%). There's also some housing in Hammond built between 2000 and later ( 2.38%).

Vacant housing appears to be an issue in Hammond. Fully 13.28% of the housing stock is classified as vacant. Left unchecked, vacant Hammond homes and apartments can be a drag on the real estate market, holding Hammond real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

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 -2.04%, which is lower than 80% of US communities.

Over the last year, Hammond appreciation rates have trailed the rest of the nation. In the last twelve months, Hammond's appreciation rate has been 1.17%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hammond were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Indiana, our data show that Hammond's latest annual appreciation rate is lower than 80% 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 2000, to assist you in making the best Hammond real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,019,000 0.0
$765,001 - $1,019,000 0.2
$509,001 - $765,000 0.0
$408,001 - $509,000 0.1
$306,001 - $408,000 0.4
$204,001 - $306,000 2.7
$102,001 - $204,000 30.6
$51,001 - $102,000 55.3
$0 - $51,000 10.6

Very Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
86.5053322395406 86.8778280542986

Number Of Homes And Apartments:

Hammond Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-0.80% -0.05% 1 1
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,073 / per month

Homeownership Rate

Owners 60.75
Renters 39.25
Vacant 13.28

Housing Market Details


Age of Homes

2000 or Newer 2.4
1970 - 1999 12.6
1940 - 1969 52.6
1939 or Older 32.4

Types of Homes

Single-Family 73.5
Townhomes 3.4
Small Apt. Buildings 10.0
Apt. Complexes 11.9
Mobile Homes 1.1
Other 0.0

Home Size

No Bedroom 0.90
1 Bedroom 11.13
2 Bedrooms 31.89
3 Bedrooms 42.74
4 Bedrooms 10.18
5 or more bedrooms 3.16