Hammond, IN—46320
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hammond, IN
As of Oct '25, the median home price in Hammond, IN is $137,000, with a year-over-year change of -1.0%. This indicates that home prices in Hammond, IN are flat. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $137,000 | -1.0% |
| Single Family | $137,000 | -0.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $120,000 | 1.7% |
3 Bed | $143,000 | -0.7% |
4 Bed | $170,000 | 0.6% |
| 5 Bed | $195,000 | 0.5% |
% of Housing Stock
Rental Trends — Hammond, IN
As of July '25, Rentcast reports the average rent in Hammond, IN is $1,210, with a year-over-year rent change of 16.3%. Per bedroom, the median rent as of July '25 in Hammond, IN is studios: $1,050, 1-bedrooms: $932, 2-bedrooms: $1,400, 3-bedrooms: $1,610, 4-bedrooms: $1,850. The most common rental property sizes in Hammond, IN are 1-bedroom and 2-bedroom, accounting for 34.2% and 33.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,210 |
| Studio Rent | $845 | $1,050 |
| 1 Bed Rent | $900 | $932 |
| 2 Bed Rent | $1,300 | $1,400 |
| 3 Bed Rent | $1,300 | $1,610 |
| 4 Bed Rent | $1,850 | $1,850 |
% of Rental Stock
Property Listings — Hammond, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Hammond, IN is 53. This is a decrease of -19.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $198,000 | 19.0% |
Listing Count | 38 | 49.0% |
| Listings as % of Homes | 0.4% | 49.0% |
Days on Market | 53 | -19.0% |
Demographics — Hammond, IN
As of the latest ACS Survey released in 2023, Hammond, IN has a population of 14,100, which has increased by 2.9% over the past 5 years. Hammond, IN is a popular place for families, as children make up 25.3% of the population. The area has a poorly educated workforce, with 11.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,100 | 2.9% |
% Under 18 | 25.3% | -10.6% |
% Seniors | 11.9% | 12.3% |
% WFH | 8.1% | 252.2% |
% w/ College Degree | 11.9% | 21.4% |
As of the latest ACS Survey released in 2023, Hammond, IN is a predominantly black area, with 44.2% of the population identifying as black. The black population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Hammond, IN is hispanic, making up 38.9% of the population. Foreign-born residents account for 14.2% of the population in Hammond, IN, and this percentage has increased by 3.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 13.6% | -14.5% |
% Black | 44.2% | -3.7% |
% Hispanic | 38.9% | 6.6% |
% Asian | 1.3% | 333.3% |
% Foreign Born | 14.2% | 3.6% |
Mortgage and Risk — Hammond, IN
According to HUD data as of 2023, there were 147 mortgage originations in Hammond, IN, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in Hammond, IN. Investor activity is low, as 7.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 147 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Hammond, IN
As of 2024, the percent of homes in Hammond, IN under the Section 8 program is 28.5%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Hammond, IN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,180 |
Total Units Section 8 | 870 |
% Rentals under Section 8 | 28.5% |
% Occupied Section 8 | 93.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$80 | $900 | $820 |
| 2 Bedroom | -$300 | $1,300 | $1,000 |
| 3 Bedroom | -$70 | $1,300 | $1,230 |
| 4 Bedroom | -$520 | $1,850 | $1,330 |
Affordability — Hammond, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $137,000 |
| Median Household Income | $35,700 |