Key Economic Benchmarks
Median Household Income
$48,166$4,014 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Hammond, LA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Hammond, LA
Official FY2026 HUD Fair Market Rents for Hammond, LA MSA. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $831 | $9,972 | $33,240 | 20.7% |
| 1-Bedroom Apartment | $848 | $10,176 | $33,920 | 21.1% |
| 2-Bedroom ApartmentBenchmark | $1,099 | $13,188 | $43,960 | 27.4% |
| 3-Bedroom Home | $1,372 | $16,464 | $54,880 | 34.2% |
| 4-Bedroom Home | $1,455 | $17,460 | $58,200 | 36.2% |
50/30/20 Living Budget in Hammond, LA
Based on the local median household income of $48,166/year ($4,014/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Louisiana
Explore net income after federal income tax, FICA, and Louisiana state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Louisiana with official federal datasets:
Frequently Asked Questions About Living in Hammond, LA
What is the median household income in Hammond, LA?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Hammond, LA is $48,166 per year (approximately $4,014 per month).
What is the average rent in Hammond, LA?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Hammond, LA are $831 for a studio, $848 for 1 bedroom, $1,099 for 2 bedrooms, $1,372 for 3 bedrooms, and $1,455 for 4 bedrooms.
How does the cost of living in Hammond, LA compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Hammond, LA is 84.5 (15.5% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Hammond, LA?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,099/month) in Hammond, LA requires a minimum gross household income of $43,960 per year ($3,663 per month).
What is a balanced 50/30/20 monthly budget in Hammond, LA?
For a typical household earning the median income of $48,166/year ($4,014/month) in Hammond, LA, a balanced 50/30/20 budget allocates $2,007/month to essential needs (rent, utilities, groceries), $1,204/month to discretionary spending, and $803/month to savings and debt repayment.
What are typical electricity and utility costs in Hammond, LA?
Residential electricity rates in Louisiana average 13.5¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $121 per month.