Lafayette, LA
Lafayette County · Pop. 126,185
Ranked #34 of 243 cities
56Moderate
Median Home Price
🏠$220K
2.5% YoY
Median Rent
🔑$1,050
1.5% YoY
Median Income
💰$48K
Rent Burden
📊29.0%
% of income to rent
Income to Buy
🏦$63K
annual income needed
Income to Rent
📝$42K
annual income needed
Price-to-Income
⚖️4.6x
Homeownership
🏡56.0%
Rent vs. Buy
Buy
$1,171/mo
Est. mortgage (7%, 20% down)
Need $63K/yr income
Rent
$1,050/mo
Median rent
Need $42K/yr income
How Lafayette Compares
| Metric | Lafayette | Louisiana | National |
|---|---|---|---|
| Home Price | $220K | $216K | $410K |
| Rent | $1,050 | $1,020 | $1,500 |
| Income | $48K | $58K | $75K |
| Rent Burden | 29.0% | 31.5% | 30.0% |
Key Takeaways
- • Home prices in Lafayette are 46% lower than the national average.
- • Rent is 30% lower than the national average.
- • You need an income of $63K to comfortably buy a home here.
- • The homeownership rate is 56.0%, compared to 65.0% nationally.