Total monthly cost of ownership
Cost to Own a Home in Hammond, Louisiana
A $219,000 home here costs
$1,891per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $81,000 a year.
A standard mortgage calculator would have told you $1,194. The real number is $697 higher every month, 58% more than the payment most buyers budget for.
Compare Tangipahoa Parish with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hammond against Tangipahoa Parish and Louisiana
| Measure | Hammond | Tangipahoa Parish |
|---|---|---|
| Median home value | $219,400 | $204,600 |
| Median property tax | $1,132 | $887 |
| Effective tax rate | 0.516% | 0.434% |
| Median gross rent | $932 | $974 |
| Population | 20,790 | 135,218 |
The weather behind that power bill
Hammond sits in Tangipahoa Parish, which averages a high of 91.8°F in its hottest month and a low of 38.3°F in its coldest, with 64.17" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,467 cooling and 1,797 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Tangipahoa Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tangipahoa Parish
Full Tangipahoa Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are Hammond averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Hammond every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hammond I already own here and may sell
Common questions
How much does it cost to own a home in Hammond?
A $219,000 home in Hammond, Louisiana costs approximately $1,891 per month with 20% down at 7.24%. That is $1,194 principal and interest, $94 property tax, $198 homeowners insurance, $223 utilities and $183 set aside for maintenance.
What is the property tax rate in Hammond?
Hammond has an effective property tax rate of 0.516%, based on a median home value of $219,400 and median real estate taxes of $1,132. That is higher than the Tangipahoa Parish average of 0.434%.
What is the average home price in Hammond?
The median owner-occupied home value in Hammond, Louisiana is $219,400, against $204,600 across Tangipahoa Parish.
Is it cheaper to rent or buy in Hammond?
Median gross rent in Hammond is $932 a month, against $1,891 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hammond?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hammond, Louisiana at today's rate takes a household income of roughly $81,000 a year. That covers the full $1,891 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hammond, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Louisiana.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.