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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Hammond HOMES|
|2000 or Newer||21.0|
|1970 - 1999||51.5|
|1940 - 1969||20.1|
|1939 or Older||7.4|
|TYPE OF Hammond HOMES|
|Small Apt. Buildings||24.9|
|SIZE OF Hammond HOMES|
|5 or more bedrooms||1.72|