Real Estate Investing in Hammond, Indiana (46323)
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Should you buy in 46323 (Hammond, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Hammond, IN (46323)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46323 Hammond
ZIP 46323 in Hammond, IN carries a solid set of headwinds. Home values near $192K and rents of $1,542/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $192K asset, 46323 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader IN picture, 46323 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Resident income in 46323 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Distressed ZIPs reward experience. robust returns are possible in 46323, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Hammond:
Property Strategy for 46323
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $155,994 | $1,420 | 6.6% | +8.1% | $77,997 |
| 3BR | $189,345 | $1,740 | 6.6% | +8.0% | $63,115 |
| 4BR | $212,924 | $1,880 | 6.4% | +7.7% | $53,231 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46323 Compare?
| Metric | 46323 | Hammond | Indiana |
|---|---|---|---|
| Home Value | $191,533 | $169,899 | $248,442 |
| 5-Year CAGR | 5.3% | 6.1% | 7.7% |
| Avg Rent | $1,542 | $1,472 | - |
| Cap Rate | 6.3% | 6.8% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46323 (Hammond, IN). Anonymous, moderated, never written by AI.
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Property managers serving Lake County
Manage rentals here? List your business →Rose Real Estate offers property management and real estate services in Munster, Northwest Indiana, and Chicagoland areas, including residential, association, and commercial management. summary from their website
Caribou Property Management offers property management services. summary from their website
Great Oaks Realty and Property Management, LLC is a full-service real estate and property management company that helps with home buying, selling, and property management. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $191,533 |
| Monthly Rent | $1,542 |
| Price-to-Rent | 10.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.7% |
| Cap Rate | 6.3% |
| 5-Year IRR | 11.6% |
📈 Home Appreciation
| 1-Year | +5.1% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 Rent Trends
| 1-Year | -6.3% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.3%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 46323
Population: 23,184
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 46323
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Kenwood Elementary School
Frank O'Bannon Elementary School
Thomas Jefferson Elementary School
Annie Burns-Hicks Elementary School
Gary Lighthouse Charter School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What price range are homes in Hammond, IN?
Expect median prices around $192K in Hammond, IN. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
What is the average monthly rent in Hammond, IN?
Rental rates in Hammond, IN average $1,542/mo. Tenant demand and $192K home values make the yield look reasonable by investor standards.
Is the tenant base reliable in Hammond, IN?
Hammond, IN draws a steady base of working renters. Demand at the $1,542/mo rent level is reasonable for standard single-family and small multi rentals.
How viable is house hacking in Hammond, IN?
House hacking in Hammond, IN is reasonable to execute. Prices around $192K and rents of $1,542/mo solid owner-occupant economics.
How do landlord-tenant laws work in Hammond, IN?
Hammond, IN operates under IN law, which is landlord-friendly overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
You know 46323 now. You don’t know where it ranks.
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How 46323 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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