In Hammond, a typical home is worth $159,900 and typical rent is $1,134 a month. Compared with all of Lake County, the typical home value is 31% lower, typical household income is 22% lower, and the share of households that own their home is 9 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $139,104 to $176,621.
Typical rent
$1,512a month
▲ 4.3% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,129 to $1,512.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Hammond is in Lake County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Lake County. See the county
What this place has that others do not, from public data, most unusual first.
1
Nearby, in Gary, the typical home value is $94,700: 41% less than in Hammond ($159,900).
2
The typical home in Hammond is worth $159,900,31% less than in Lake County as a whole ($230,600).
3
Nearby, in East Chicago, the typical rent is $854: 25% less than in Hammond ($1,134).
4
The typical household income in Hammond is $55,504,22% less than in Lake County as a whole ($71,493).
5
62% of households in Hammond own their home, against 72% in Lake County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Hammond
What homes there are in Hammond, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Hammond
Lake County
Indiana
United States
Kind of home: Hammond and its comparisons
Measure
Hammond
Lake County
Indiana
United States
Detached house
73%
71%
73%
61%
Attached house
4%
8%
4%
6%
Building of 2 to 4
9%
7%
6%
8%
Apartments (5 or more)
13%
13%
13%
19%
Mobile home
1%
2%
4%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
The detached house is the most common home in Hammond: 73% of homes, near the figure in Lake County (71%).
Year built
Before 19601960–19791980–19992000–20092010 or later
Hammond
Lake County
Indiana
United States
Year built: Hammond and its comparisons
Measure
Hammond
Lake County
Indiana
United States
Before 1960
69%
39%
31%
26%
1960–1979
19%
27%
24%
24%
1980–1999
7%
16%
23%
25%
2000–2009
3%
11%
12%
14%
2010 or later
2%
7%
10%
11%
The typical home in Hammond was built in 1952, 16 years before the typical one in Lake County.
In Hammond, 12% of homes have 1 bedroom or none (studios); 57% have 3 bedrooms or more, against 64% in Lake County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K16%
$100K–$200K56%
$200K–$300K23%
$300K–$500K4%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Hammond and its comparisons
Measure
Hammond
Under $100K
16%
$100K–$200K
56%
$200K–$300K
23%
$300K–$500K
4%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
At least 99% of owner-occupied homes in Hammond are worth less than $500,000, below the FHA loan limit for Lake County ($541,287).
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $5008%
$500–$99927%
$1,000–$1,49948%
HUD fair market rent, 2 bedrooms: $1,429
$1,500–$1,99915%
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Hammond and its comparisons
Measure
Hammond
Under $500
8%
$500–$999
27%
$1,000–$1,499
48%
$1,500–$1,999
15%
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable estimate
By rent, most homes in Hammond cost less than HUD's 2-bedroom fair market rent ($1,429): about 76%.
With a mortgage
$1,231 a month
Lake County: $1,529 a month
Without a mortgage
$490 a month
Lake County: $569 a month
Owners with a mortgage
59%
Lake County: 63%
Owning costs less in Hammond: with a mortgage, the typical cost is $1,231 a month; in Lake County, $1,529. Without one, $490.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Hammond+74%
Lake County+54%
Indiana+54%
United States+53%
Typical rent
Hammond+29%
Lake County+28%
Indiana+29%
United States+33%
Typical household income
Hammond+20%
Lake County+27%
Indiana+28%
United States+29%
Change since 2015–2019: Hammond and its comparisons
Measure
Hammond
Lake County
Indiana
United States
Typical home value
+74%
+54%
+54%
+53%
Typical rent
+29%
+28%
+29%
+33%
Typical household income
+20%
+27%
+28%
+29%
From 2015–2019 to 2020–2024, the typical home value in Hammond rose 74%; in Lake County, it rose 54%.
Much as in Lake County, the typical rent in Hammond rose 29% since 2015–2019.
The typical household income in Hammond rose 20%: less than home values (+74%) and rent (+29%).
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Hammond and its comparisons
Measure
Hammond
Lake County
Indiana
United States
Rental vacancy
5.0%
5.1%
5.6%
5.5%
Homeowner vacancy
Unreliable estimate
0.6%
0.8%
0.9%
More than one person per room
3.2%
2.3%
1.8%
3.4%
People per household
2.55
2.54
2.46
2.53
Drive alone
76%
80%
76%
69%
Carpool
11%
8%
9%
9%
Public transit
2%
1%
1%
3%
Walk or bike
3%
1%
2%
3%
Work from home
7%
8%
11%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Much as in Lake County, the rental vacancy rate in Hammond is 5.0%.
In Hammond, 3.2% of households live with more than one person per room, about the same as in Lake County.
Much as in Lake County, a household in Hammond has 2.55 people on average.
In Hammond, 11% of workers share a car to get to work; in Lake County, 8%.
Do the math
What would you pay each month for a home in Hammond?
A typical home is tight for the typical income
We start with a typical home in Hammond, worth $159,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 29% of the typical household income in Hammond, which is $55,504 a year. For that payment to be 28% of income, a household would need to earn about $57,294 a year.
The calculator's FHA and conventional loan limits are those of all of Lake County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Hammond. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $5,597 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,337
at 7.18% · 30 years
Loan amount
$157,003
Total interest
$225,891
Paid off in
November 2056
Includes $2,700 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,295 a month
Tight
$1,295 to $1,665 a month
Your payment · 29%
Hard
more than $1,665 a month
Compared with the typical household income in Hammond ($55,504 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,064
Property tax
$136
Home insurance
$67
FHA mortgage insurance (MIP)
$71
You need at least $5,597 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $1,337; principal and interest $1,064.
The city and its county
Hammond and Lake County
Hammond is in Lake County, Indiana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Hammond
Map of Lake County, Indiana, with Hammond marked. Around it, the neighboring counties.
Hammond
Lake County
Other cities with a page
Hammond's own numbers
Typical home value
$159,900
Typical monthly rent
$1,134
Typical yearly household income
$55,504
Households that own their home
62%
Effective property tax rate
1.02%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Lake County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,429
Price change over 5 years (FHFA)
+48%
Homes in a high flood-risk zone
1.1%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Lake County.
A typical home in Hammond is worth $159,900: 31% below the county and 27% below Indiana. With the typical household income in Hammond ($55,504 a year), a typical home costs 2.9 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Hammond2.9 years
Lake3.2 years
Indiana3.0 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Lake County
According to FHFA’s house price index, home prices in Lake County rose 82% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Lake County.
Yearly change in FHFA’s price index in Lake County, 2016 to 2025
2016: +2.6% +2.6% 2016
2017: +4.0% +4.0% 2017
2018: +5.9% +5.9% 2018
2019: +5.5% +5.5% 2019
2020: +3.7% +3.7% 2020
2021: +12.0% +12.0% 2021
2022: +14.3% +14.3% 2022
2023: +6.9% +6.9% 2023
2024: +4.7% +4.7% 2024
2025: +3.2% +3.2% 2025
Change in FHFA’s price index in Lake County, Indiana and the United States
Period
County
Indiana
U.S.
Last year (2025)
+3.2%
+4.3%
+2.9%
5 years (2020–2025)
+48%
+53%
+47%
10 years (2015–2025)
+82%
+95%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Hammond next to Lake County, Indiana and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Hammond$159,900
Lake$230,600
Indiana$218,200
United States$332,700
Typical monthly rent
Hammond$1,134
Lake$1,131
Indiana$1,062
United States$1,413
Typical yearly household income
Hammond$55,504
Lake$71,493
Indiana$71,957
United States$80,734
See the full table
Hammond next to Lake County and Indiana
Measure
Hammond
Lake County
Indiana
U.S.
Typical home value
$159,900 ▼31% below the county
$230,600
$218,200
$332,700
Typical monthly rent
$1,134
$1,131
$1,062
$1,413
Typical yearly household income
$55,504 ▼22% below the county
$71,493
$71,957
$80,734
Households that own their home
62% ▼9 points below the county
72%
71%
65%
Typical yearly property tax
$1,630 ▼23% below the county
$2,112
$1,614
$3,119
Effective property tax rate
1.02% ▲0.1 points above the county
0.92%
0.74%
0.94%
Renters with high rent for their income
50% ▼2 points below the county
52%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Lake County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Hammond
For a typical $159,900 home in Hammond, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Hammond's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,337a month
Least cash to close
Down payment
$5,597
Cash to close
$10,394
Rate
7.18%
Mortgage insurance
FHA MIP · $71
Conventional, 5% down$1,308a month
Down payment
$7,995
Cash to close
$12,792
Rate
7.18%
Mortgage insurance
PMI · $76
Conventional, 20% down, no PMI$1,069a month
Down payment
$31,980
Cash to close
$36,777
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,217a month
Down payment
$23,985
Cash to close
$28,782
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Hammond
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,337
$5,597
$157,004
7.18%
FHA MIP · $71
$10,394
580
Conventional, 5% down
$1,308
$7,995
$151,905
7.18%
PMI · $76
$12,792
620*
Conventional, 20% down, no PMI
$1,069
$31,980
$127,920
7.18%
None
$36,777
620*
ITIN, 15% down (example)
$1,217
$23,985
$135,915
8.18%
None
$28,782
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Hammond is $1,134 a month: about the same as the county. In Hammond, 50% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Lake County, by unit size. To pay the 2-bedroom one ($1,429 a month) without spending more than 30% of your income, you would need to earn $27.48 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Lake County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,117
$21.48
$44,680
1 bedroom
$1,176
$22.62
$47,040
2 bedrooms
$1,429
$27.48
$57,160
3 bedrooms
$1,739
$33.44
$69,560
4 bedrooms
$1,898
$36.50
$75,920
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Hammond
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Hammond has 5 ZIP codes with their own.
For 2 bedrooms it runs from $1,230 in 46394 to $1,540 in 46323.
2 of the 5 are above the fair market rent for Lake County ($1,429).
2-bedroom fair market rent in each of the 5 ZIP codes of Hammond, beside the one for Lake County. For 2 bedrooms it runs from $1,230 in 46394 to $1,540 in 46323. 2 of the 5 are above the fair market rent for Lake County ($1,429).
2-bedroom fair market rent in each ZIP code
Each line is one ZIP code: in color, those above the county's fair market rent; in gray, the rest.
County: $1,429
Lowest: $1,230 (46394)Highest: $1,540 (46323)
Fair market rent by ZIP code and size in Hammond, fiscal year 2027.
46320
$1,020
$1,070
$1,300
$1,580
$1,730
46323
$1,200
$1,270
$1,540
$1,870
$2,050
46324
$1,130
$1,190
$1,450
$1,760
$1,930
46327
$1,100
$1,160
$1,410
$1,720
$1,870
46394
$960
$1,010
$1,230
$1,500
$1,630
ZIP code2 bd3 bd
46320 $1,300$1,580
46323 $1,540$1,870
46324 $1,450$1,760
46327 $1,410$1,720
46394 $1,230$1,500
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Hammond when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 14 buildings with rents for lower incomes in Hammond. These are the largest.
Renaissance Towers524 Michigan St, Hammond 46320450 low-income homes · For families(219) 932-4848
Turner Park4923 Hohman Ave, Hammond 46320195 homes, 194 low-income · Run by Housing Authority of the City of Hammond · Average payment: $455 a month · Average wait: 16 months(219) 989-3265
Hammond Elderly Apartments5111 Sohl Ave, Hammond 46320150 low-income homes · For older adults(219) 931-0801
Mount Zion Pleasant View Manor940 Kenwood St, Hammond 46320128 homes, 127 low-income · For older adults(219) 931-3904
Sohl Avenue Assisted Living5640 Sohl Ave, Hammond 46320125 low-income homes · Studio: 51 · 1 bd: 74 · In service since 2017
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 3 HUD-approved agencies with an office in Lake County; 1 says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Hammond or Lake County. The ones below are statewide in Indiana: they work in Hammond the same as in the rest of the state.
Indiana state agency program with down payment assistance of 2.5% or 3.5% of the price, alongside a 30-year FHA or conventional mortgage.Offered by Indiana Housing and Community Development Authority (IHCDA).
Indiana state agency 30-year FHA or conventional mortgage for first-time buyers (or homes in designated areas), with down payment assistance as a second mortgage with no interest or payments, repaid when the first mortgage ends.Offered by Indiana Housing and Community Development Authority (IHCDA).
No legal help resource on our list is for Hammond or Lake County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Hammond and all of Lake County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Hammond?
The typical home value in Hammond is $159,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Lake County it is $230,600.
How much does it cost to rent in Hammond?
Typical rent in Hammond is $1,134 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Lake County is $1,429.
What is the FHA loan limit in Hammond?
Hammond uses the FHA limit for all of Lake County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Hammond?
The typical homeowner in Hammond pays $1,630 a year, according to the U.S. Census Bureau. That is 1.02% of the home’s value; in Lake County, the rate is 0.92%.
Where can I find free help to buy or rent in Hammond?
There are 3 HUD-approved counseling agencies with an office in Lake County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.
