West Lafayette, IN—47906
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — West Lafayette, IN
As of Oct '25, the median home price in West Lafayette, IN is $360,000, with a year-over-year change of 2.4%. This indicates that home prices in West Lafayette, IN are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $360,000 | 2.4% |
| Single Family | $366,000 | 1.9% |
| Condos | $246,000 | 5.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $270,000 | 2.7% |
3 Bed | $315,000 | 1.9% |
4 Bed | $424,000 | 1.7% |
| 5 Bed | $588,000 | 2.3% |
% of Housing Stock
Rental Trends — West Lafayette, IN
As of July '25, Rentcast reports the average rent in West Lafayette, IN is $1,890, with a year-over-year rent change of 4.4%. Per bedroom, the median rent as of July '25 in West Lafayette, IN is studios: $1,480, 1-bedrooms: $1,150, 2-bedrooms: $1,440, 3-bedrooms: $1,940, 4-bedrooms: $2,340. The most common rental property sizes in West Lafayette, IN are 2-bedroom and 3-bedroom, accounting for 32.3% and 23.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,890 |
| Studio Rent | $1,620 | $1,480 |
| 1 Bed Rent | $1,180 | $1,150 |
| 2 Bed Rent | $1,580 | $1,440 |
| 3 Bed Rent | $1,900 | $1,940 |
| 4 Bed Rent | $2,200 | $2,340 |
% of Rental Stock
Property Listings — West Lafayette, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in West Lafayette, IN is 62. This is a increase of 13.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $480,000 | 8.0% |
Listing Count | 193 | 52.0% |
| Listings as % of Homes | 0.1% | 52.0% |
Days on Market | 62 | 13.0% |
Demographics — West Lafayette, IN
As of the latest ACS Survey released in 2023, West Lafayette, IN has a population of 74,300, which has decreased by -2.1% over the past 5 years. West Lafayette, IN is a less popular place for families, as children make up 14.1% of the population. The area has a highly educated workforce, with 62.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 74,300 | -2.1% |
% Under 18 | 14.1% | -7.2% |
% Seniors | 9.4% | 19.0% |
% WFH | 13.1% | 211.9% |
% w/ College Degree | 62.3% | -0.3% |
As of the latest ACS Survey released in 2023, West Lafayette, IN is a predominantly white area, with 68.6% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in West Lafayette, IN is asian, making up 15.6% of the population. Foreign-born residents account for 17.8% of the population in West Lafayette, IN, and this percentage has decreased by 9.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 68.6% | -2.8% |
% Black | 4.8% | 60.0% |
% Hispanic | 7.4% | 37.0% |
% Asian | 15.6% | -14.8% |
% Foreign Born | 17.8% | -9.2% |
Mortgage and Risk — West Lafayette, IN
According to HUD data as of 2023, there were 943 mortgage originations in West Lafayette, IN, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in West Lafayette, IN. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 943 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — West Lafayette, IN
As of 2024, the percent of homes in West Lafayette, IN under the Section 8 program is 3.2%. 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. In West Lafayette, IN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 507 |
Total Units Section 8 | 457 |
% Rentals under Section 8 | 3.2% |
% Occupied Section 8 | 92.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$210 | $1,180 | $970 |
| 2 Bedroom | -$420 | $1,580 | $1,160 |
| 3 Bedroom | -$500 | $1,900 | $1,400 |
| 4 Bedroom | -$450 | $2,200 | $1,750 |
Affordability — West Lafayette, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $360,000 |
| Median Household Income | $51,700 |