Hammond, IN Cost Of Living
Cost Of Living In Hammond, IN Summary
Cost of living in Hammond research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Hammond is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Hammond is 95, with 100 being the average.
The cost of living index in Hammond is 0.9x lower than the national average.
Hammond ranks as the #92 cheapest in Indiana out of 124.
Hammond ranks as the #2,449 cheapest out of 6,412 in the US.
The median home value in Hammond is $107,500.
The median income in Hammond is $48,107.
Table Of Contents
Hammond's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Hammond, IN?
According to the most recent data on the cost of living, Hammond has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.
Compared to Indiana, Hammond has a cost of living index that's 1.0x higher than Indiana's index of 91.
The standard of living in Hammond ranks as #92 most affordable out of the 124 places we measured in Indiana. By definition, that implies Hammond ranks as the #32 most expensive place in the Hoosier State.
For more reading on life in Hammond, check out:
- Living In Hammond
- Hammond Crime Report
- Search Homes For Sale In Hammond, IN
In Indiana
In America
Hammond Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in Hammond. Here is how it fairs on each of the criteria:
The Services index in Hammond is 114.
The Groceries index in Hammond is 108.
The Health index in Hammond is 99.
The Housing index in Hammond is 58.
The Transportation index in Hammond is 114.
The Utilities index in Hammond is 93.
| Living Expense | Hammond | Indiana | National Average | |
|---|---|---|---|---|
| Overall | 95 | 91 | 100 | |
| Services | 114 | 94 | 100 | |
| Groceries | 108 | 96 | 100 | |
| Health | 99 | 101 | 100 | |
| Housing | 58 | 77 | 100 | |
| Transportation | 114 | 95 | 100 | |
| Utilities | 93 | 106 | 100 | |
Hammond, IN Housing Cost Breakdown
Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Hammond is $107,500.
The Median Rent in Hammond is $914.
The Median Income in Hammond is $48,107.
The Home Value To Income in Hammond is 2.2x.
The Rent To Monthly Income in Hammond is 0.23x.
| Statistic | Hammond | Indiana | United States |
|---|---|---|---|
| Median Home Value | $107,500 | $158,500 | $244,900 |
| Median Rent | $914 | $891 | $1,163 |
| Median Income | $48,107 | $61,944 | $69,021 |
| Home Value To Income | 2.2x | 2.6x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Hammond, IN Costs By Category
Detailed Hammond Services Costs Vs. Indiana
Detailed Hammond Groceries Costs Vs. Indiana
Detailed Hammond Health Costs Vs. Indiana
Detailed Hammond Transportation Costs Vs. Indiana
Detailed Hammond Utilities Costs Vs. Indiana
Hammond SnackAbility
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Cost Of Living In Cities Around Hammond
The cost of living varies in the cities and towns around Hammond. Here's a quick look at the cost of living in the most populous nearby places:
Orland Park, IL has a cost of living index of 112, 1.2x Hammond.
Tinley Park, IL has a cost of living index of 105, 1.1x Hammond.
Lansing, IL has a cost of living index of 98, 1.0x Hammond.
| City | Population | Cost Of Living | Vs. Hammond |
|---|---|---|---|
| Orland Park, IL | 58,622 | 112 | 1.2x |
| Tinley Park, IL | 55,988 | 105 | 1.1x |
| Lansing, IL | 28,916 | 98 | 1.0x |
| Oak Forest, IL | 27,445 | 99 | 1.0x |
| East Chicago, IN | 26,502 | 92 | 1.0x |
| Munster, IN | 23,717 | 109 | 1.1x |
| Dolton, IL | 21,588 | 99 | 1.0x |
| South Holland, IL | 21,524 | 106 | 1.1x |
| Frankfort, IL | 20,040 | 126 | 1.3x |
| Palos Hills, IL | 18,379 | 105 | 1.1x |
