Hammond, IN—46323
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 $183,000, with a year-over-year change of 0.2%. This indicates that home prices in Hammond, IN are flat. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $183,000 | 0.2% |
| Single Family | $183,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $156,000 | -1.3% |
3 Bed | $189,000 | 0.5% |
4 Bed | $213,000 | 0.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hammond, IN
As of July '25, Rentcast reports the average rent in Hammond, IN is $1,440, with a year-over-year rent change of 0.7%. Per bedroom, the median rent as of July '25 in Hammond, IN is studios: $1,040, 1-bedrooms: $1,010, 2-bedrooms: $1,470, 3-bedrooms: $1,690. The most common rental property sizes in Hammond, IN are 2-bedroom and 3-bedroom, accounting for 47.1% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,440 |
| Studio Rent | $1,040 | $1,040 |
| 1 Bed Rent | $1,000 | $1,010 |
| 2 Bed Rent | $1,380 | $1,470 |
| 3 Bed Rent | $1,650 | $1,690 |
| 4 Bed Rent | N/A | N/A |
% 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 46. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 50.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $207,000 | 9.0% |
Listing Count | 52 | 51.0% |
| Listings as % of Homes | 0.4% | 51.0% |
Days on Market | 46 | 6.0% |
Demographics — Hammond, IN
As of the latest ACS Survey released in 2023, Hammond, IN has a population of 23,200, which has increased by 4.5% over the past 5 years. Hammond, IN is a moderately popular place for families, as children make up 22.9% of the population. The area has a poorly educated workforce, with 15.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,200 | 4.5% |
% Under 18 | 22.9% | -9.8% |
% Seniors | 13.7% | 7.9% |
% WFH | 7.1% | 238.1% |
% w/ College Degree | 15.5% | 4.0% |
As of the latest ACS Survey released in 2023, Hammond, IN is a predominantly hispanic area, with 38.0% of the population identifying as hispanic. The hispanic population has grown by 24.2% in the last 5 years. The second most common race or ethnicity in Hammond, IN is white, making up 36.3% of the population. Foreign-born residents account for 8.0% of the population in Hammond, IN, and this percentage has decreased by 23.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 36.3% | -21.1% |
% Black | 21.2% | 15.2% |
% Hispanic | 38.0% | 24.2% |
% Asian | 1.6% | -44.8% |
% Foreign Born | 8.0% | -23.8% |
Mortgage and Risk — Hammond, IN
According to HUD data as of 2023, there were 325 mortgage originations in Hammond, IN, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Hammond, IN. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 325 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Hammond, IN
Hammond, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 144 |
Total Units Section 8 | 144 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $80 | $1,000 | $1,080 |
| 2 Bedroom | -$70 | $1,380 | $1,310 |
| 3 Bedroom | -$40 | $1,650 | $1,610 |
| 4 Bedroom | N/A | N/A | $1,740 |
Affordability — Hammond, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $183,000 |
| Median Household Income | $56,900 |