Hammond, Indiana.
Typical home $176,621 (+1.8% in a year), asking rent $1,512 (+4.3%). Chicago-Naperville-Elgin, IL-IN-WI metro.
to buy the typical home at today's mortgage rate — +$530 (+133%) since Jan 2020.
- 1 year
- Up $3,141 +2%
- $173,480$176,621 since Sep 2025
- 5 years
- Up $37,517 +27%
- $139,104$176,621 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Hammond$927
- Indiana$1,350
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 15 years.
Typical home values in Hammond, IN rose 1.8% over the past year — faster than the nation's +1.2%.
Asking rents in Hammond, IN rose 4.3% over the past year — faster than the nation's +2.7%.
Owning the typical home in Hammond runs $261/mo less than renting one. The gap peaked at $468 in Dec 2020.
That is $1,251 a month against $1,512 rent: a $927 mortgage payment, plus $135 property tax and $189 insurance & upkeep.
Owning vs renting — Hammond
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$1,251
- Renting$1,512
- Mortgage only$927
Property tax · $135/mo 0.92% of value a year — the ACS 2020-2024 median bill over the median home value for Lake County, IN
Insurance & upkeep · $189/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Hammond, Lake County, Indiana
Hammond is a city of 77,879 people in Lake County. Half its households earn more than $55,504 a year and half less, against $71,493 across Lake County; 19% of its people live below the poverty line. 62% of its homes are lived in by their owners and 38% are rented. Unemployment in Hammond was 4.7% in August 2026, and Lake County had about as many jobs in 2025 as the year before. The most residents work in schools and health care, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Hammond is a city in Lake County, Indiana, with a median age a little over the middle of life. Incomes run below the county's, and more people live below the poverty line than most would expect to find in a place this size. Most homes are lived in by their owners, and the typical home value is modest while the typical rent sits well above what many would guess. Winters are cold, with January highs near freezing and lows well below it, and a fair amount of snow falls each year. Summers are warm, and rain and melted snow are steady through the year.
Work. Many residents work in schools, hospitals and social care, with manufacturing, shops, and restaurants, hotels and entertainment also employing large numbers. Among the largest workplaces in Hammond are School City of Hammond, Purdue University Northwest and Lear Corporation. Fewer adults hold a four-year degree than in many places, and few work from home, so most people travel to a job, with a typical commute that is a fairly short drive. Unemployment is close to where it stood a year earlier, and jobs across the county are holding steady rather than growing.
Things to do. The big attractions are in Chicago, a longer drive away. The Art Institute of Chicago is a museum, and Soldier Field is a stadium. Millennium Park is a garden, and the Field Museum of Natural History is another museum.
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- 29,797households
- 17%of adults have a degree
- 19%below the poverty line
- 26 mintypical commute
- 7%work from home
What residents work in
Employed residents by industry, from the Census survey. Lake County had 191,579 jobs in 2025, about as many as the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 31° and lows near 15°; warmest in July, with highs near 84° and lows near 64°. About 28 inches of snow and 42 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Park Forest weather station, 13 miles away (NOAA).
Largest workplaces in Hammond
- School City of HammondSchool district1,718FTE
- Purdue University NorthwestUniversity or college1,130
- Lear Corporation - HammondAutomotive supplier832
- Horseshoe HammondCasino/hospitality793
- Meats by LinzCutting of purchased carcasses merchant wholesalers451
- WalmartWarehouse clubs and supercenters436
- WalmartWarehouse clubs and supercenters435
- MSI Express - HammondPowders, baking, manufacturing302
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 65 workplaces with 20 or more staff, 7,698 people in all. School districts come from the Common Core of Data (NCES, 2023–24) and colleges from IPEDS (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Cold wavesRelatively high
- TornadoesRelatively high
- Winter weatherRelatively moderate
- LightningRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Hammond’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Lake County and the Chicago-Naperville-Elgin, IL-IN-WI metro.
Hammond home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Hammond$176,621
- Indiana$257,165
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 3 Hammond listings, and the typical home goes pending in 9 days — the market is heating up.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Hammond29.63%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Hammond9
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Hammond121
New listings per month
Sellers arriving at the market.
- Hammond56
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Hammond$193,407
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Hammond99.77%
Zip codes with a Hammond address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Hammond — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Hammond
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 46323 | Hammond | 23,047 | $1,579 | $187,833 |
| 46324 | Hammond | 21,409 | $1,668 | $184,086 |
| 46320 | Hammond | 14,353 | $1,307 | $144,747 |
| 46327 | Hammond | 10,597 | $1,471 | $156,164 |