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Hammond vs Monroe for Rental Property Investing

Side-by-side comparison of Hammond, LA and Monroe, LA — cap rates, rent, prices, and investment metrics.

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Monroe wins 3–0 across key metrics
Monroe leads on cash flow (6.36% vs 5.33% cap rate) · Hammond leads on population growth
Metric
Hammond, LA
Monroe, LA
Est. Cap Rate
5.33%
6.36%
Median Home Price
$220,000
$160,000
Median Monthly Rent
$1,310
$1,100
1% Rule
0.60%
0.69%
GRM
14.0x
12.1x
Price / Income
4.8x
3.5x
Property Tax Rate
0.54%
0.54%
Vacancy Rate
6.7%
6.7%
Population Growth
0.3% / yr
0.3% / yr
Annual Appreciation
2.1%
2.1%
Population
50,000
50,000
Median Income
$45,760
$45,760

Hammond vs Monroe: Which Is Better for Investors?

Cash flow: Monroe has the edge with an estimated cap rate of 6.36% compared to Hammond's 5.33%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $220,000 in Hammond vs $160,000 in Monroe, while rents come in at $1,310/mo and $1,100/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.

Growth & appreciation: Hammond is growing faster at 0.3% annually vs Monroe's 0.3%. Hammond leads on home value appreciation at 2.1% per year.

Costs & risk: Property taxes are 0.54% in Hammond vs 0.54% in Monroe. Vacancy rates of 6.7% and 6.7% are mixed — Monroe has the tighter rental market.

Entry point: Monroe offers a lower entry at $160K vs Hammond's $220K — a difference of $60K. With a 20% down payment, that's $32K vs $44K. Monroe combines the lower price with a higher cap rate — a compelling combination.

Bottom line: Monroe edges out Hammond on most key metrics. With a 6.36% cap rate, it offers solid cash flow potential. Use our free calculators to model specific deals in Hammond or Monroe.

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Hammond, LA
5.33% cap rate · $220,000 median · $1,310/mo
Full analysis →
Monroe, LA
6.36% cap rate · $160,000 median · $1,100/mo
Full analysis →

Frequently Asked Questions

Is Hammond or Monroe better for rental investing?
Monroe wins 3–0 across our 7 key metrics. Monroe's 6.36% cap rate and $160K median price give it the edge overall.
What is the cap rate difference between Hammond and Monroe?
Hammond has a 5.33% cap rate vs Monroe's 6.36% — a difference of 1.03 percentage points. This is a significant gap that meaningfully impacts cash flow. For context, the national average is 3.81%.
Which city has lower property taxes?
Monroe has lower property taxes at 0.54% vs 0.54%. On a $190K property, that's a difference of approximately $324/year in tax expense — money that goes directly to (or from) your cash flow.
Which city is growing faster?
Hammond is growing at 0.3% annually vs Monroe's 0.3%. Both cities have slow growth — focus on the strongest neighborhoods. Hammond's appreciation rate of 2.1% also leads on home value growth.

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