Lafayette, LA—70508
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 $288,000, with a year-over-year change of -2.0%. This indicates that home prices in Lafayette, LA are decreasing. According to Zillow, the 1-year price projection is -2.8%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $288,000 | -2.0% |
| Single Family | $289,000 | -2.0% |
| Condos | $200,000 | 15.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $187,000 | 0.5% |
3 Bed | $256,000 | -0.4% |
4 Bed | $406,000 | 0.0% |
| 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 $1,790, with a year-over-year rent change of 0.6%. Per bedroom, the median rent as of July '25 in Lafayette, LA is studios: $775, 1-bedrooms: $1,040, 2-bedrooms: $1,500, 3-bedrooms: $1,880, 4-bedrooms: $3,000. The most common rental property sizes in Lafayette, LA are 2-bedroom and 3-bedroom, accounting for 44.6% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,790 |
| Studio Rent | $775 | $775 |
| 1 Bed Rent | $983 | $1,040 |
| 2 Bed Rent | $1,400 | $1,500 |
| 3 Bed Rent | $1,720 | $1,880 |
| 4 Bed Rent | $2,900 | $3,000 |
% 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 75. This is a decrease of -25.0% from last year, suggesting that homes are sitting on the market shorter 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 | $375,000 | -3.0% |
Listing Count | 259 | 22.0% |
| Listings as % of Homes | 0.8% | 22.0% |
Days on Market | 75 | -25.0% |
Demographics — Lafayette, LA
As of the latest ACS Survey released in 2023, Lafayette, LA has a population of 39,400, which has decreased by -2.8% over the past 5 years. Lafayette, LA is a moderately popular place for families, as children make up 22.5% of the population. The area has a highly educated workforce, with 47.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,400 | -2.8% |
% Under 18 | 22.5% | -1.7% |
% Seniors | 15.4% | 5.5% |
% WFH | 10.1% | 106.1% |
% w/ College Degree | 47.3% | 4.4% |
As of the latest ACS Survey released in 2023, Lafayette, LA is a predominantly white area, with 75.4% of the population identifying as white. The white population has shrunk by 6.0% in the last 5 years. The second most common race or ethnicity in Lafayette, LA is black, making up 12.6% of the population. Foreign-born residents account for 4.5% of the population in Lafayette, LA, and this percentage has decreased by 11.8% 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 | 75.4% | -6.0% |
% Black | 12.6% | 14.5% |
% Hispanic | 4.7% | -9.6% |
% Asian | 3.2% | 60.0% |
% Foreign Born | 4.5% | -11.8% |
Mortgage and Risk — Lafayette, LA
According to HUD data as of 2023, there were 528 mortgage originations in Lafayette, LA, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Lafayette, LA. Investor activity is low, as 6.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 528 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Lafayette, LA
As of 2024, the percent of homes in Lafayette, LA under the Section 8 program is 1.6%. 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 | 76 |
Total Units Section 8 | 75 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 76.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $117 | $983 | $1,100 |
| 2 Bedroom | -$160 | $1,400 | $1,240 |
| 3 Bedroom | -$160 | $1,720 | $1,560 |
| 4 Bedroom | -$850 | $2,900 | $2,050 |
Affordability — Lafayette, LA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $288,000 |
| Median Household Income | $88,000 |