46323, Hammond, IN

Hammond, Indiana is located in the southeastern corner of the state and has a population of just over 20,000. The 46323 zip code covers much of Hammond's downtown area and has a median home price of $101,000. Home equity in this zip code is relatively high, with nearly two-thirds (64%) of households reporting at least some equity in their homes.

The reason for this high level of equity may be due to the strong economy in Indiana overall. In fact, Hammond has been one of the strongest performing zip codes in terms of job growth over the past few years. Additionally, Hammond residents have access to a number of affordable housing options and are not as likely to face foreclosure or eviction as other areas in Indiana.

Despite these positive factors, there are still some risks associated with owning a home in Hammond. For example, if someone loses their job or their income decreases significantly, they may find it difficult to make payments on their mortgage or home equity loan. Additionally, since homes in this area are relatively expensive compared to other parts of the country, if prices decline significantly there could be significant losses for homeowners who were not prepared for such a downturn.