Hammond, IN vs Kokomo, IN

There is a significant gap in the cost of living between these two cities. Kokomo is 15.8% cheaper than Hammond. With a cost index of 70 vs 81, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Kokomo to Hammond should plan for substantially higher expenses across most categories.

On the housing front, median rent in Hammond is $1,089/month compared to $917/month in Kokomo — a 19% difference. Home values follow the same pattern: Kokomo is more affordable at $126,500 median vs $141,700.

Median household income in Hammond is $53,950 compared to $54,195 in Kokomo (-0.5%). Kokomo offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Hammond spend roughly 24.2% of their income on rent, more than the 20.3% in Kokomo.