Housing costs in Hammond?
A typical home costs
$149,600, which is 55.8% less expensive than the national average of
$338,100 and 32.5% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Hammond costs
$1,000 per month, which is 30.1% cheaper than the national average of
$1,430 and 2.0% more than the state average of
$980.
Can I afford Hammond?
To live comfortably in Hammond, Indiana, a minimum annual income of
$28,800 for a family, and
$32,800 for a single person is recommended.
What does A.I. say about Hammond?
Hammond, Indiana has a cost of living index rating slightly lower than that if the nation at 94 due mostly to low housing costs making up 32% - far below the national average 43%. Utility costs are also relatively low due to favorable climate conditions and cheaper sources of energy such as natural gas making it an ideal place for those looking for more affordable options while still maintaining access to city resources like cultural centers and educational opportunities. Transportation (12%) and healthcare (10%) make up approximately equal percentages with grocery costs accounting for 9%, further contributing to overall lower living expenses when contrasted against many other U.S cities .