Real Estate Investing in Hammond, Illinois (61929)
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Should you buy in 61929 (Hammond, IL)? 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.
- High vacancy: 19.0% of homes vacant — above national norms.
- Higher unemployment: 12.4% unemployment — tenant risk signal.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hammond, IL (61929)?
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Market Analysis: 61929 Hammond
The 61929 ZIP in Hammond, IL is a local-operator market. Outside capital chasing a $139K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $139K asset, 61929 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 61929 sits on the difficult end of the IL spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 61929 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 61929 is an operator game, not a passive one. Looking more closely, entry prices of $139K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Hammond:
Market Trends
Home Value History (with trend line)
📊 How Does 61929 Compare?
| Metric | 61929 | Hammond | Champaign-Urbana, IL | Illinois |
|---|---|---|---|---|
| Home Value | $138,937 | $138,937 | N/A | $279,761 |
| 5-Year CAGR | 7.8% | 7.8% | N/A | 6.6% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 5.0% | 5.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61929 (Hammond, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $138,937 |
| Monthly Rent | $882 |
| Price-to-Rent | 13.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 5.0% |
| 5-Year IRR | 12.7% |
📈 Home Appreciation
| 1-Year | +9.2% ▲ |
| 3-Year CAGR | +7.6% ▲ |
| 5-Year CAGR | +7.8% ▲ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61929
Population: 713
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Does Hammond, IL favor landlords or tenants?
Rental owners in Hammond, IL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Are renters plentiful in Hammond, IL?
Working renters make up the core of the Hammond, IL tenant base. The pool is reasonable for investors targeting long-term holds.
What are home prices like in Hammond, IL?
The median home value in Hammond, IL is roughly $139K. That puts it reasonable relative to the IL statewide average.
How do experienced investors play Hammond, IL?
The best-fit strategy in Hammond, IL is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How much is rent in Hammond, IL?
Hammond, IL rentals go for roughly $882/mo a month. That puts gross yield in solid territory relative to $139K acquisition costs.
You know 61929 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 61929 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 61929 ranks in Champaign-Urbana, IL
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