Commercial Real Estate Market in Hammond, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
168 active listings and 2,680 off-market properties in Hammond, IN. Commercial property asks $84/SF to buy and $16.46/SF/Yr to lease.
Market Trends
Hammond, IN spans 34.3 square miles in Lake County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Hammond, IN asks $154/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Retail
Retail space in Hammond, IN asks $126/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Hammond, IN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in Hammond, IN asks $173/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 37.6%
- Industrial 30%
- Open space 15.6%
- Commercial 8%
- Civic 6.8%
- Planned_development 1.6%
- Mixed use 0.5%
Largest Zones share of zoned land by district
Manufacturing Industrial
Single Family Residential
Urban Single Family Residential
Open Space And Recreational Facilities
General Commercial
Hammond, IN zones 14,593 acres across 15 districts. Commercial zoning covers 8% of zoned land, residential 37.6%, open space 15.6% and industrial 30%. The largest single district is Manufacturing Industrial at 27%. For commercial buyers the practical constraint is that only 38% of land carries a commercial or industrial designation.
Manufacturing Industrial (I-2)
I-2 Manufacturing Zoning Districts granted by the Board of Zoning Appeals. The Board of Zoning Appeals can grant a conditional use permit only if all applicable health, safety, and environmental laws are complied with. The provisions herein are intended to provide the Board with adequate guidance in its deliberations. 19.40.10 Review responsibility (Am.Ord.…
Market overview
Demographics & Economy
Hammond, IN has 118,591 residents in 49,584 households. Density runs 3,456 people per square mile. Median household income here is $68,262 and median gross rent $1,198 a month.
118,591
Population
49,584
Households
2.4
Avg Household Size
38
Median Age
24%
College-Educated
88%
High-School Grad
34.3 sq mi
ZIP Area
3,456
Density / Sq Mi
$68,262
Median Household Income
$41,163
Median Earnings
$1,198
Median Rent
$187,604
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Calumet City | — | $16.20 |
| Lansing | — | — |
| East Chicago | — | $15.42 |
| Highland | — | — |
Commercial property in Hammond, IN asks $84/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Hammond?
Commercial property in Hammond, IN asks an average of $84 per square foot. Multifamily carries the highest asking price at $173/SF.
How much does it cost to lease commercial space in Hammond?
Asking lease rates in Hammond, IN average $16.46 per square foot per year.
What zoning applies to commercial property in Hammond?
Hammond, IN zones 14,593 acres across 15 districts, of which 8% is commercial and 30% industrial. The largest single district is Manufacturing Industrial at 27% of zoned land. I-2 Manufacturing Zoning Districts granted by the Board of Zoning Appeals. The Board of Zoning Appeals can grant a conditional use permit only if all applicable health, safety, and environmental laws are complied with. The provisions herein are intended to provide the Board with adequate guidance in its deliberations. 19.40.10 Review responsibility (Am.Ord.… Residential zoning covers 37.6% and open space 15.6%.
Where does Realmo's Hammond market data come from?
Realmo compiles Hammond, IN figures from 113 active sale listings, 55 active lease listings, 2,680 tracked off-market properties, the current Hammond zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 113 active for-sale and 55 active for-lease listings in Hammond, IN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 14,593 zoned acres across 15 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
