A
7%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
9%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Hammond Louisiana National
Cost of living9391100
Goods & Services9596100
Groceries9695100
Health care9899100
Housing9181100
Transportation9396100
Utilities8184100

An Overview of Cost of Living in Hammond, LA

Are you thinking about relocating, but curious about the potential cost of living in Hammond? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Hammond stands at 93, making it 7% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Hammond closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Hammond can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Hammond Affordable?

Is Hammond affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Hammond, the median home price is 5.6% lower than the national average and monthly rent prices are 15.4% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Hammond boasting a median household income of $31,250, 43.5% lower than the national average.

What Factors can Influence the Cost of Living in Hammond?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Hammond, the transportation index is 6.9% lower than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Hammond, the general sales tax rate starts at 4.45%, and income tax rates begin at 1.85%.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Hammond, healthcare costs are 2.2% lower than the national average.

Where is the Data From?

The cost of living in Hammond, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Hammond is 2% higher than the Louisiana average
  • The cost of living in Hammond is 7% lower than the national average
  • Hammond housing is 9% lower than the national average
  • Louisiana general sales tax is 13% lower than the national average
  • Louisiana state income tax is 29% lower than the national average

Most Affordable Places to Live in and Around Hammond

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Compare Hammond, LA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$65,338$5,445$1,524$1,960
      Renters$19,754$1,646$461$593
      A good indicator of the general affordability of housing in Hammond, LA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Hammond, the median monthly income is $65,338 for those who own their own homes. Under the standard rule, that income level would allow for $1,524 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $19,754, per the median income in the area. That would allow for renters to spend up to $461 on monthly rental expenses.

      Louisiana Sales Tax

      State General Sales Tax With Max Surtax
      Louisiana 4.45% 11.45%

      Louisiana Income Tax

      State Income Tax (Low) Income Tax (High)
      Louisiana 1.85% 4.25%

      Goods & Services

      Item Hammond National avg. Difference
      Haircut $24.85$24.262.4%
      Beauty Salon $46.92$45.563.0%
      Toothpaste $3.72$3.700.4%
      Shampoo $1.19$1.286.9%
      Movie $11.93$12.131.7%
      Bowling $19.00$18.005.6%

      Groceries

      Item Hammond National avg. Difference
      Ground Beef $5.61$5.843.9%
      Fried Chicken $1.68$1.576.5%
      Milk $4.53$4.673.0%
      Potatoes $5.12$4.933.7%
      Pizza $10.95$12.099.4%
      Beer $9.71$10.416.8%

      Health Care

      Item Hammond National avg. Difference
      Optometrist $95.65$125.6823.9%
      Doctor $125.52$135.787.6%
      Dentist $122.39$113.298.0%
      Ibuprofen $10.07$10.655.5%
      Lipitor $463.70$468.601.0%

      Housing

      Item Hammond National avg. Difference
      Home Price $174,400.00$184,700.005.6%
      Avg. Mortgage Payment $1,456.60$2,346.6937.9%
      Apartment Rent $803.00$949.0015.4%

      Transportation

      Item Hammond National avg. Difference
      Gasoline $3.18$3.468.0%
      Tire Balancing $57.42$59.924.2%

      Utilities

      Item Hammond National avg. Difference
      All Electricity $136.13$193.9929.8%
      Phone $187.85$192.252.3%
      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 Population Cost of Living Index National Avg.
      Montpelier, LA3238218.4%
      Independence, LA2,5788317.1%
      Natalbany, LA2,8478713.3%
      Albany, LA1,3009010.4%
      Tickfaw, LA9279010.0%
      Hammond, LA20,557937.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Prunedale, CA20,56016463.9%
      Bryant, AR20,563963.6%
      Adrian, MI20,5508713.2%
      Palm Valley, FL20,54013635.8%
      Clemmons, NC20,5741065.7%
      Hammond, LA20,557937.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.