Lafayette, IN—47905
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 $285,000, with a year-over-year change of 3.5%. This indicates that home prices in Lafayette, IN are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $285,000 | 3.5% |
| Single Family | $286,000 | 3.2% |
| Condos | $254,000 | 5.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $192,000 | 6.1% |
3 Bed | $276,000 | 3.0% |
4 Bed | $370,000 | 2.5% |
| 5 Bed | $553,000 | 2.4% |
% of Housing Stock
Rental Trends — Lafayette, IN
As of July '25, Rentcast reports the average rent in Lafayette, IN is $1,370, with a year-over-year rent change of 7.0%. Per bedroom, the median rent as of July '25 in Lafayette, IN is studios: $926, 1-bedrooms: $955, 2-bedrooms: $1,120, 3-bedrooms: $1,740, 4-bedrooms: $1,890. The most common rental property sizes in Lafayette, IN are 2-bedroom and 1-bedroom, accounting for 38.4% and 30.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,370 |
| Studio Rent | $945 | $926 |
| 1 Bed Rent | $964 | $955 |
| 2 Bed Rent | $1,080 | $1,120 |
| 3 Bed Rent | $1,750 | $1,740 |
| 4 Bed Rent | $1,980 | $1,890 |
% 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 32. This is a increase of 7.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $315,000 | -12.0% |
Listing Count | 142 | 22.0% |
| Listings as % of Homes | 0.2% | 22.0% |
Days on Market | 32 | 7.0% |
Demographics — Lafayette, IN
As of the latest ACS Survey released in 2023, Lafayette, IN has a population of 42,100, which has remained stable by 0.5% over the past 5 years. Lafayette, IN is a popular place for families, as children make up 25.3% of the population. The area has a moderately educated workforce, with 32.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,100 | 0.5% |
% Under 18 | 25.3% | 2.8% |
% Seniors | 15.8% | 3.9% |
% WFH | 7.7% | 175.0% |
% w/ College Degree | 32.4% | -0.9% |
As of the latest ACS Survey released in 2023, Lafayette, IN is a predominantly white area, with 74.1% of the population identifying as white. The white population has shrunk by 8.0% in the last 5 years. The second most common race or ethnicity in Lafayette, IN is hispanic, making up 12.3% of the population. Foreign-born residents account for 9.5% of the population in Lafayette, IN, and this percentage has increased by 53.2% 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 | 74.1% | -8.0% |
% Black | 6.8% | 19.3% |
% Hispanic | 12.3% | 21.8% |
% Asian | 3.6% | 176.9% |
% Foreign Born | 9.5% | 53.2% |
Mortgage and Risk — Lafayette, IN
According to HUD data as of 2023, there were 1032 mortgage originations in Lafayette, IN, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Lafayette, IN. Investor activity is low, as 3.0% 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 | 1,032 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% 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 13.1%. 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. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Lafayette, IN, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 869 |
Total Units Section 8 | 870 |
% Rentals under Section 8 | 13.1% |
% Occupied Section 8 | 90.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$4 | $964 | $960 |
| 2 Bedroom | $70 | $1,080 | $1,150 |
| 3 Bedroom | -$360 | $1,750 | $1,390 |
| 4 Bedroom | -$250 | $1,980 | $1,730 |
Affordability — Lafayette, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $285,000 |
| Median Household Income | $63,100 |