Hammond, IN vs Lafayette, IN

Lafayette is moderately more affordable than Hammond, with a 5.3% lower cost of living index. Hammond scores 81 compared to 76 for Lafayette, where the US average is 100. This difference means residents of Hammond can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Hammond is $1,089/month compared to $1,039/month in Lafayette — a 5% difference. Interestingly, home values tell a different story: while Lafayette has cheaper rent, Hammond actually has lower median home values ($141,700 vs $157,600).

Median household income in Hammond is $53,950 compared to $52,946 in Lafayette (+1.9%). Hammond does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Hammond spend roughly 24.2% of their income on rent, more than the 23.5% in Lafayette.