Hammond cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexHammondIndianaNational
Cost of living index9587100
IndexHammondIndianaNational
Goods & Services index10894100
Groceries index10894100
Health care index10395100
Housing index6273100
Transportation index12692100
Utilities index9590100
Displayed above is a general overview of the Hammond, IN cost of living index. The overall cost of living index in Hammond, IN is 95, which is 9% higher than the Indiana average and 5% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Hammond, IN are 15% higher than the Indiana average and 8% higher than the national average.

Did you know?

  • The cost of living in Hammond is 9% higher than the Indiana average.
  • The cost of living in Hammond is 5% lower than the national average.
  • The cost of housing in Hammond is 38% lower than the national average.
  • Indiana general sales tax is 37% higher than the national average.
  • Indiana state income tax is 48% higher than the national average.

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Salary Calculator

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Use the salary calculator to compare your current salary in Hammond, IN to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Hammond, IN, then you would need to earn more income in order to maintain the same standard of living. To use the Hammond, IN salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$50,603$4,217$1,181$1,518
Renters$26,589$2,216$620$798
One can approximate the cost of living and the housing affordability in Hammond, IN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Hammond, IN have a median income of $50,603. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,181 per month to avoid calamity and poverty. The renters in the city have an income of about $26,589, which would make their monthly maximum allowable rental costs $620.

Indiana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Indiana7%7%

Indiana Income Tax

StateIncome Tax (Low)Income Tax (High)
Indiana3.3%3.3%
When assessing the complete cost of living in Hammond, IN, the Indiana income tax and the Indiana sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Indiana maximum surtax is 7%, and the Indiana sales tax is 7%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 3.3% to 3.3% in Indiana.

Goods & Services

ItemHammondNational avg.Difference
Haircut $17.44$15.5612.1%
Beauty Salon $55.00$36.1152.3%
Toothpaste $2.68$2.478.3%
Shampoo $1.00$0.963.6%
Movie $13.20$10.1330.3%
Bowling $8.00$4.7468.9%

Groceries

ItemHammondNational avg.Difference
Ground Beef $4.57$3.9814.6%
Fried Chicken $1.67$1.4118.4%
Milk $1.94$2.065.8%
Potatoes $3.51$2.9817.6%
Pizza $9.99$9.475.5%
Beer $8.73$8.790.7%

Health Care

ItemHammondNational avg.Difference
Optometrist $95.00$101.046.0%
Doctor $99.17$107.447.7%
Dentist $101.11$90.4211.8%
Ibuprofen $9.80$9.285.6%
Lipitor $421.75$426.501.1%

Housing

ItemHammondNational avg.Difference
Home Price $90,200.00$175,700.0048.7%
Avg. Mortgage Payment $1,611.36$1,133.2342.2%
Apartment Rent $814.00$920.0011.5%

Transportation

ItemHammondNational avg.Difference
Gasoline $2.57$1.9928.9%
Tire Balancing $54.44$45.7619.0%

Utilities

ItemHammondNational avg.Difference
All Electricity$150.85$163.817.9%
Phone $28.44$28.390.2%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Dixmoor, IL3,63588-12%
Gary, IN79,16591-9%
Ford Heights, IL2,77792-8%
East Chicago, IN29,38792-8%
Robbins, IL5,22192-8%
Hammond, IN79,58595-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bend, OR79,69811818%
Redwood City, CA79,73619999%
Gary, IN79,16591-9%
Edinburg, TX79,00275-25%
Lake Forest, CA78,94015555%
Hammond, IN79,58595-5%
Source: The Hammond, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.