70402, Hammond, LA

Hammond, Louisiana is located in the 70402 zip code. According to the 2010 census, Hammond has a population of 8,812. The median household income in Hammond is $48,906. The median home value in Hammond is $128,500.

The average home equity loan amount in Hammond is $101,000. The average home price appreciation rate in Hammond from 2007 to 2011 was 10%. In 2011 alone, the average home price appreciation rate was 12%.

There are a number of factors that contribute to the high demand for homes in Hammond and the surrounding areas. One reason is that Hammond has a low unemployment rate and a high level of education attainment. Additionally, many people who live in Hammond commute to jobs outside of the city or suburbia. This means that there are plenty of potential buyers who are looking for homes within commuting distance of their work location.

Another factor contributing to the high demand for homes in Hammond and other areas around Louisiana is the low interest rates currently available on mortgages. This makes it possible for more people to purchase homes than ever before without having to sacrifice too much on their monthly mortgage payments.

Overall, it seems clear that there are plenty of reasons why homeownership rates and home prices have been increasing steadily throughout much of Louisiana over recent years. While some people may worry about whether this trend will continue into future years, it seems likely that both homeownership rates and home prices will continue rising at least somewhat over the next few years as long as interest rates remain low and there remains strong demand from buyers throughout Louisiana and elsewhere in America