Hammond, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Hammond Neighborhoods Since 2000




Hammond, LA 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 20,480 people, 6,762 houses or apartments, and a median cost of homes of $146,254, Hammond real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Hammond, accounting for 52.58% of the city's housing units. Other types of housing that are prevalent in Hammond include duplexes, homes converted to apartments or other small apartment buildings ( 24.85%), large apartment complexes or high rise apartments ( 14.50%), and a few mobile homes or trailers ( 6.23%).

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.

There is a lot of housing in Hammond built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hammond built between 2000 and later ( 21.03%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.11%). There's also some housing in Hammond built before 1939 ( 7.39%).

Vacant housing appears to be an issue in Hammond. Fully 16.85% 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

Appreciation rates for homes in Hammond have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.07%, which ranks in the top 50% nationwide. This equates to an annual average Hammond house appreciation rate of 0.11%.

NeighborhoodScout's data show that during the latest twelve months, Hammond's appreciation rate, at 3.70%, has been at or slightly above the national average. In the latest quarter, Hammond's appreciation rate has been 2.29%, which annualizes to a rate of 9.50%.

Importantly, this makes Hammond one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Louisiana, our data show that Hammond's latest annual appreciation rate is higher than 80% of the other cities and towns in Louisiana.

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:
$146,254

Hammond, LA HOME PRICES

Value Range
> $1,091,000 0.2
$818,001 - $1,091,000 0.5
$545,001 - $818,000 0.3
$436,001 - $545,000 1.7
$327,001 - $436,000 8.1
$218,001 - $327,000 19.4
$109,001 - $218,000 39.8
$55,001 - $109,000 14.2
$0 - $55,000 15.9

High for LA
Average for Nation

Value Relative to Nation Value Relative to State
51.6465486933083 22.2996515679443

Number Of Homes And Apartments:
6,762

Hammond Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
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
51.44% 2.43% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$903 / per month

Homeownership Rate

Homeownership
Owners 38.19
Renters 61.81
Vacant 16.85

Housing Market Details

 

Age of Homes

AGE OF Hammond HOMES
2000 or Newer 21.0
1970 - 1999 51.5
1940 - 1969 20.1
1939 or Older 7.4

Types of Homes

TYPE OF Hammond HOMES
Single-Family 52.6
Townhomes 1.8
Small Apt. Buildings 24.9
Apt. Complexes 14.5
Mobile Homes 6.2
Other 0.0

Home Size

SIZE OF Hammond HOMES
No Bedroom 2.55
1 Bedroom 11.76
2 Bedrooms 35.37
3 Bedrooms 37.20
4 Bedrooms 11.41
5 or more bedrooms 1.72