Lafayette, LA—70503
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lafayette, LA
As of Oct '25, the median home price in Lafayette, LA is $276,000, with a year-over-year change of -1.3%. This indicates that home prices in Lafayette, LA are decreasing. According to Zillow, the 1-year price projection is -3.2%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $276,000 | -1.3% |
| Single Family | $280,000 | -1.1% |
| Condos | $127,000 | 12.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $238,000 | 0.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lafayette, LA
As of July '25, Rentcast reports the average rent in Lafayette, LA is $1,660, with a year-over-year rent change of 12.2%. Per bedroom, the median rent as of July '25 in Lafayette, LA is 1-bedrooms: $994, 2-bedrooms: $1,410, 3-bedrooms: $1,930, 4-bedrooms: $2,260. The most common rental property sizes in Lafayette, LA are 2-bedroom and 3-bedroom, accounting for 55.8% and 20.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,660 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $975 | $994 |
| 2 Bed Rent | $1,350 | $1,410 |
| 3 Bed Rent | $1,800 | $1,930 |
| 4 Bed Rent | $2,200 | $2,260 |
% of Rental Stock
Property Listings — Lafayette, LA
As of Oct '25, Realtor.com reports that the median days on market for a home in Lafayette, LA is 83. This is a increase of 2.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $322,000 | -2.0% |
Listing Count | 160 | -8.0% |
| Listings as % of Homes | 0.9% | -8.0% |
Days on Market | 83 | 2.0% |
Demographics — Lafayette, LA
As of the latest ACS Survey released in 2023, Lafayette, LA has a population of 28,900, which has decreased by -6.7% over the past 5 years. Lafayette, LA is a moderately popular place for families, as children make up 22.8% of the population. The area has a highly educated workforce, with 55.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,900 | -6.7% |
% Under 18 | 22.8% | 15.2% |
% Seniors | 17.5% | 25.9% |
% WFH | 12.9% | 214.6% |
% w/ College Degree | 55.5% | 11.2% |
As of the latest ACS Survey released in 2023, Lafayette, LA is a predominantly white area, with 74.1% of the population identifying as white. The white population has shrunk by 10.2% in the last 5 years. The second most common race or ethnicity in Lafayette, LA is black, making up 10.5% of the population. Foreign-born residents account for 5.9% of the population in Lafayette, LA, and this percentage has increased by 43.9% 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% | -10.2% |
% Black | 10.5% | 12.9% |
% Hispanic | 8.3% | 277.3% |
% Asian | 3.4% | -8.1% |
% Foreign Born | 5.9% | 43.9% |
Mortgage and Risk — Lafayette, LA
According to HUD data as of 2023, there were 423 mortgage originations in Lafayette, LA, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Lafayette, LA. Investor activity is low, as 13.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 423 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 13.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Lafayette, LA
As of 2024, the percent of homes in Lafayette, LA under the Section 8 program is 6.5%. 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 units appear to be good home sizes to consider for Section 8 housing in Lafayette, LA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 253 |
Total Units Section 8 | 253 |
% Rentals under Section 8 | 6.5% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $95 | $975 | $1,070 |
| 2 Bedroom | -$140 | $1,350 | $1,210 |
| 3 Bedroom | -$280 | $1,800 | $1,520 |
| 4 Bedroom | -$200 | $2,200 | $2,000 |
Affordability — Lafayette, LA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $276,000 |
| Median Household Income | $94,400 |