Hammond, IN — Momentum Score, Home Values & Best-For

All states·Indiana·Hammond

Lake County · Chicago-Naperville-Elgin · population 76,030

AffordabilityShrinking

Image: Wikipedia · Hammond, Indiana

Overview Cost of living Moving guide

View watchlist →

Rising

Momentum score · 0–100

Where Hammond stands

At or near all-time high. population shrinking 0.6% per year.

Median home $174,813

1-year +0.6%

5-yr CAGR +5.7%

vs 5-yr peak -0.4%

Population -0.6%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly

Lifestyle scores

🚶

Walkability

52/100

Somewhat walkable

Estimated from population density. Higher = denser, more amenities within walking distance.

🚉

Public transit

22/100

Transit limited

Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.

💻

Remote work fit

79/100

Strong remote-work fit

Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

Rent trajectory · last 5 years

Zillow ZORI · monthly

Home value vs rent · indexed to 100

Both rebased at first month of ZORI data (~2015)

Rent vs buy

Price-to-rent ratio: 10.3

Buy

At a 10.3 price-to-rent ratio, buying generally beats renting in Hammond on a long-enough horizon. The headline math is that one year of mortgage payments approximates 10.3 years of rent — well below the 15+ threshold where ownership starts to dominate.

How the momentum score breaks down

methodology →

Home YoY

53 · w22%

Home 5-yr CAGR

68 · w22%

Distance from peak

88 · w18%

Population growth

36 · w16%

Rent YoY

74 · w12%

Home 10-yr CAGR

86 · w10%

Long thesis

Hammond offers a $174,813 median home with +5.7% annualized 5-year appreciation. Affordability + positive trend is one of the better risk/reward setups in US residential — small downside, room to compound.

Short thesis

Hammond's population is shrinking 0.6% per year. Housing demand has to come from somewhere — if people are leaving, the buyer pool is shrinking faster than the inventory. That eventually shows up in price.

About Hammond

Hammond is a city in Lake County, Indiana, with an estimated population of 76,030. It anchors the Chicago-Naperville-Elgin metro area. The population has contracted 0.6% per year on average since 2020. The median home value in Hammond is $174,813 as of 2026-04, up 0.6% over the last 12 months. Over the last five years, home values have averaged +5.7% annual growth, with prices at or near the 5-year peak. Rents in Hammond average $1,409 per month, up 4.3% year-over-year. The composite momentum score is 66 of 100 (Rising). The market is healthy with prices supported by underlying demand.

▲ Bull case

●Healthy 5-year run: +5.7% annualized over 5 years, outpacing US inflation.

●Held the highs: currently -0.4% from the 5-year peak — this market refused to give back gains.

●Cheap entry point: $174,813 median home is well below the US median of $355k — room to grow without overpaying.

▼ Bear case

●Flat or shrinking population: -0.6% per year. Housing demand has to come from somewhere — verify the source.

○Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.

About Hammond (Wikipedia)

Hammond is a city in Lake County, Indiana, United States. Located along Lake Michigan, it is part of the Chicago metropolitan area and the only city in Indiana to border Chicago. As of the 2020 census, it is the eighth-most populous city in Indiana, with 77,879 residents. It was first settled in the mid-19th century and it is one of the oldest cities of northern Lake County.

Source: Wikipedia · this summary is contributed and licensed under CC-BY-SA.

City facts

MayorThomas McDermott Jr.

Area23.827 sq mi

Elevation584 ft

Settled1847

Density3350/sq mi

Named forGeorge H. Hammond

Extracted from the Wikipedia infobox. Values may be slightly out of date relative to the latest sources.

Playbook

Buyer

You're not in a frenzy but you're not getting bargains either. Make a competitive offer with normal inspection terms. Don't lowball — the listing will move with or without you.

Seller

Price at fair market value; expect movement in 30-45 days. Don't get clever with terms (rent-back, contingencies) — buyers in a Rising market have options.

Investor

Appreciation tailwind exists but cash flow requires discipline on price. Run the numbers conservatively and confirm rent comps before committing.

Local safety & alerts

No active National Weather Service alerts for Lake County right now.

NWS active alerts (IN)Indiana Emergency Management How to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. Lake County routes NWS alerts; check the state EM portal for non-weather emergencies.

Neighborhoods of Hammond

5 tracked · ranked by median home value

1Hessville$186,687+0.9%

2South Hammond$185,047-0.7%

3Woodmar$182,912+1.9%

4North Hammond$156,178-0.7%

5Central Hammond$143,050+2.6%

Cities like Hammond

Terre Haute, IN64 · Rising Hobart, IN64 · Rising Lawrence, IN66 · Rising Merrillville, IN67 · Rising

Run the numbers for Hammond

ToolCan I afford Hammond?Income → city shortlist ToolROI on a Hammond rentalCap rate, cash-on-cash, DSCR ToolCompare Hammond to anywhereSide-by-side up to 3 cities ToolHammond cost-of-livingEquivalent income elsewhere

Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.

Climate & natural-disaster risk

Winter (Jan)

35° / 19°

avg high / low

Summer (Jul)

85° / 64°

avg high / low

Sunny days/yr

186

~51% of year

Annual precip

42″ rain

20″ snow

Disaster risk (1=very low, 5=very high)

Hurricane

Very low

Tornado

High

Wildfire

Very low

Earthquake

Low

Flood

Moderate

State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.

Local sports teams

Major professional teams the Chicago-Naperville-Elgin area cheers for. Detailed stats, schedules, and player pages on intherafters.com.

NFLChicago Bears →

NBAChicago Bulls →

MLBChicago Cubs →Chicago White Sox →

NHLChicago Blackhawks →

Current weather

Loading current conditions…

7-day forecast on weather.gov →

Find rentals & listings

Open current Hammond listings on the major real-estate sites.

For rent

Zillow rentals → Apartments.com → Trulia rentals →

For sale

Zillow for sale → Realtor.com →

Links open the live search on the destination site — results are always current.

Local news & community

Latest news

Chicago Bears stadium news: Indiana Governor Mike Braun optimistic Bears will move to Hammond | ABC7 EXCLUSIVE
ABC7 Chicago · 5h ago
Chicago Bears’ proposed stadium site in Hammond would be built on giant slag heap, near hazardous waste sites
Chicago Tribune · 1d ago
Arlington Heights mayor says Bears’ Indiana location would be near hazardous waste
NBC Sports · 1d ago
Next 2 weeks could sway chances of Chicago Bears picking Indiana stadium site
Indiana Capital Chronicle · 1d ago
Bears to update NFL on stadium sites — and Chicago isn't one of them
Chicago Sun-Times · 2d ago
Braun confident Bears recognize Indiana is best for business — and a new Hammond stadium
nwitimes.com · 7h ago

Local economy & environment

Humidity

72%

Humid climate

Median household income

$67,200

Indiana state median

Top industries (state-level)

Manufacturing (auto)HealthcareLogistics

Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.