Lafayette, IN—47904
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lafayette, IN
As of Oct '25, the median home price in Lafayette, IN is $179,000, with a year-over-year change of 5.2%. This indicates that home prices in Lafayette, IN are increasing. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $179,000 | 5.2% |
| Single Family | $179,000 | 5.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $130,000 | 11.1% |
2 Bed | $161,000 | 5.9% |
3 Bed | $191,000 | 4.4% |
4 Bed | $231,000 | 3.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lafayette, IN
As of July '25, Rentcast reports the average rent in Lafayette, IN is $1,220, with a year-over-year rent change of 15.1%. Per bedroom, the median rent as of July '25 in Lafayette, IN is studios: $905, 1-bedrooms: $957, 2-bedrooms: $1,220, 3-bedrooms: $1,410, 4-bedrooms: $1,700. The most common rental property sizes in Lafayette, IN are 2-bedroom and 3-bedroom, accounting for 33.1% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,220 |
| Studio Rent | $715 | $905 |
| 1 Bed Rent | $899 | $957 |
| 2 Bed Rent | $1,230 | $1,220 |
| 3 Bed Rent | $1,350 | $1,410 |
| 4 Bed Rent | $1,550 | $1,700 |
% of Rental Stock
Property Listings — Lafayette, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Lafayette, IN is 37. This is a increase of 45.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $217,000 | 11.0% |
Listing Count | 47 | 65.0% |
| Listings as % of Homes | 0.2% | 65.0% |
Days on Market | 37 | 45.0% |
Demographics — Lafayette, IN
As of the latest ACS Survey released in 2023, Lafayette, IN has a population of 16,300, which has decreased by -5.1% over the past 5 years. Lafayette, IN is a moderately popular place for families, as children make up 21.2% of the population. The area has a poorly educated workforce, with 18.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,300 | -5.1% |
% Under 18 | 21.2% | -0.9% |
% Seniors | 13.9% | 31.1% |
% WFH | 6.7% | 168.0% |
% w/ College Degree | 18.9% | -13.3% |
As of the latest ACS Survey released in 2023, Lafayette, IN is a predominantly white area, with 72.8% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Lafayette, IN is hispanic, making up 15.8% of the population. Foreign-born residents account for 9.1% of the population in Lafayette, IN, and this percentage has increased by 8.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.8% | -2.9% |
% Black | 4.5% | -50.5% |
% Hispanic | 15.8% | 33.9% |
% Asian | 1.5% | -21.1% |
% Foreign Born | 9.1% | 8.3% |
Mortgage and Risk — Lafayette, IN
According to HUD data as of 2023, there were 295 mortgage originations in Lafayette, IN, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Lafayette, IN. Investor activity is low, as 7.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 295 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Lafayette, IN
As of 2024, the percent of homes in Lafayette, IN under the Section 8 program is 7.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Lafayette, IN, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 324 |
Total Units Section 8 | 324 |
% Rentals under Section 8 | 7.4% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $11 | $899 | $910 |
| 2 Bedroom | -$140 | $1,230 | $1,090 |
| 3 Bedroom | -$40 | $1,350 | $1,310 |
| 4 Bedroom | $90 | $1,550 | $1,640 |
Affordability — Lafayette, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $179,000 |
| Median Household Income | $46,800 |