Hammond, IN is a great place to settle down due to its low cost of living when compared to other areas of the country. Rent for a two bedroom apartment in Hammond is $1,000 compared to the national average of $1,430. The grocery cost index in Hammond is 93 versus 100 in the US which also helps keep costs lower. Additionally, Hammond has many local companies such as Lake City Bank, Kellermeyer Bergensons Services LLC and JPS USA Corp that provide employment opportunities for those looking to move there. With its low cost of living and access to jobs, Hammond is an appealing option for those who are searching for a place to call their own.
Hammond has an unemployment rate of 8.5%. The US average is 6.0%.
Hammond has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 27.8%, which is lower than the US average of 33.5%.
Tax Rates for Hammond
- The Sales Tax Rate for Hammond is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Hammond is 3.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hammond
- The average income of a Hammond resident is $18,460 a year. The US average is $28,555 a year.
- The Median household income of a Hammond resident is $48,107 a year. The US average is $69,021 a year.