Lafayette, LA—70506
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 $203,000, with a year-over-year change of -1.7%. This indicates that home prices in Lafayette, LA are decreasing. According to Zillow, the 1-year price projection is -3.3%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $203,000 | -1.7% |
| Single Family | $205,000 | -1.0% |
| Condos | $101,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $147,000 | -1.3% |
3 Bed | $212,000 | 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 $1,440, with a year-over-year rent change of 6.7%. Per bedroom, the median rent as of July '25 in Lafayette, LA is 1-bedrooms: $896, 2-bedrooms: $1,210, 3-bedrooms: $1,650, 4-bedrooms: $2,210. The most common rental property sizes in Lafayette, LA are 2-bedroom and 3-bedroom, accounting for 37.1% and 29.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,440 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $895 | $896 |
| 2 Bed Rent | $1,200 | $1,210 |
| 3 Bed Rent | $1,650 | $1,650 |
| 4 Bed Rent | $2,180 | $2,210 |
% 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 76. This is a increase of 10.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $238,000 | -4.0% |
Listing Count | 209 | 13.0% |
| Listings as % of Homes | 0.6% | 13.0% |
Days on Market | 76 | 10.0% |
Demographics — Lafayette, LA
As of the latest ACS Survey released in 2023, Lafayette, LA has a population of 41,600, which has remained stable by 0.2% over the past 5 years. Lafayette, LA is a moderately popular place for families, as children make up 20.3% of the population. The area has a moderately educated workforce, with 36.8% 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 | 41,600 | 0.2% |
% Under 18 | 20.3% | 2.5% |
% Seniors | 15.9% | 30.3% |
% WFH | 6.7% | 116.1% |
% w/ College Degree | 36.8% | 7.0% |
As of the latest ACS Survey released in 2023, Lafayette, LA is a predominantly white area, with 60.3% of the population identifying as white. The white population has shrunk by 7.7% in the last 5 years. The second most common race or ethnicity in Lafayette, LA is black, making up 20.1% of the population. Foreign-born residents account for 11.5% of the population in Lafayette, LA, and this percentage has increased by 76.9% 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 | 60.3% | -7.7% |
% Black | 20.1% | -13.7% |
% Hispanic | 13.0% | 128.1% |
% Asian | 2.9% | -14.7% |
% Foreign Born | 11.5% | 76.9% |
Mortgage and Risk — Lafayette, LA
According to HUD data as of 2023, there were 650 mortgage originations in Lafayette, LA, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 82.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Lafayette, LA. Investor activity is low, as 15.0% 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 | 650 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 15.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Lafayette, LA
As of 2024, the percent of homes in Lafayette, LA under the Section 8 program is 6.6%. 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 | 809 |
Total Units Section 8 | 605 |
% Rentals under Section 8 | 6.6% |
% Occupied Section 8 | 79.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $55 | $895 | $950 |
| 2 Bedroom | -$130 | $1,200 | $1,070 |
| 3 Bedroom | -$310 | $1,650 | $1,340 |
| 4 Bedroom | -$410 | $2,180 | $1,770 |
Affordability — Lafayette, LA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $203,000 |
| Median Household Income | $55,600 |