Lafayette, IN—47909
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lafayette, IN
As of Nov '25, the median home price in Lafayette, IN is $270,000, with a year-over-year change of 2.6%. This indicates that home prices in Lafayette, IN are increasing. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $270,000 | 2.6% |
| Single Family | $271,000 | 2.3% |
| Condos | $188,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $216,000 | 4.3% |
3 Bed | $260,000 | 2.4% |
4 Bed | $353,000 | 2.3% |
| 5 Bed | $484,170 | 2.7% |
% of Housing Stock
Rental Trends — Lafayette, IN
As of July '25, Rentcast reports the average rent in Lafayette, IN is $1,600, with a year-over-year rent change of 11.1%. Per bedroom, the median rent as of July '25 in Lafayette, IN is 1-bedrooms: $959, 2-bedrooms: $1,420, 3-bedrooms: $1,840, 4-bedrooms: $2,410. The most common rental property sizes in Lafayette, IN are 2-bedroom and 1-bedroom, accounting for 44.6% and 23.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,600 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $960 | $959 |
| 2 Bed Rent | $1,480 | $1,420 |
| 3 Bed Rent | $1,800 | $1,840 |
| 4 Bed Rent | $2,280 | $2,410 |
% of Rental Stock
Property Listings — Lafayette, IN
As of Nov '25, Realtor.com reports that the median days on market for a home in Lafayette, IN is 50. This is a increase of 24.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | -16.0% |
Listing Count | 140 | 51.0% |
| Listings as % of Homes | 0.2% | 51.0% |
Days on Market | 50 | 24.0% |
Demographics — Lafayette, IN
As of the latest ACS Survey released in 2023, Lafayette, IN has a population of 43,000, which has remained stable by 1.0% over the past 5 years. Lafayette, IN is a popular place for families, as children make up 26.9% 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 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,000 | 1.0% |
% Under 18 | 26.9% | 5.1% |
% Seniors | 11.9% | 3.5% |
% WFH | 8.0% | 281.0% |
% w/ College Degree | 32.4% | 27.6% |
As of the latest ACS Survey released in 2023, Lafayette, IN is a predominantly white area, with 74.5% of the population identifying as white. The white population has shrunk by 5.8% in the last 5 years. The second most common race or ethnicity in Lafayette, IN is hispanic, making up 11.6% of the population. Foreign-born residents account for 7.3% of the population in Lafayette, IN, and this percentage has increased by 32.7% 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 | 74.5% | -5.8% |
% Black | 7.9% | 2.6% |
% Hispanic | 11.6% | 11.5% |
% Asian | 2.4% | 100.0% |
% Foreign Born | 7.3% | 32.7% |
Mortgage and Risk — Lafayette, IN
According to HUD data as of 2023, there were 1014 mortgage originations in Lafayette, IN, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Lafayette, IN. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,014 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Rentals and Section 8 — Lafayette, IN
As of 2024, the percent of homes in Lafayette, IN under the Section 8 program is 14.7%. 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, IN, 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 | 885 |
Total Units Section 8 | 885 |
% Rentals under Section 8 | 14.7% |
% Occupied Section 8 | 87.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $960 | $1,000 |
| 2 Bedroom | -$290 | $1,480 | $1,190 |
| 3 Bedroom | -$370 | $1,800 | $1,430 |
| 4 Bedroom | -$490 | $2,280 | $1,790 |
Affordability — Lafayette, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $270,000 |
| Median Household Income | $67,300 |