Lafayette appreciation rates and housing market information

Lafayette housing market information

With 23,349 people, 9,166 houses or apartments, and a median cost of homes of $302,456, Lafayette real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Lafayette, accounting for 59.80% of the city's housing units. Other types of housing that are prevalent in Lafayette include row houses and other attached homes (15.84%), large apartment complexes or high rise apartments (9.69%), mobile homes or trailers (9.45%), and a few duplexes, homes converted to apartments, or other small apartment buildings (5.12%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Lafayette. Owner-occupied housing accounts for 73.71% of Lafayette's homes, and 60.17% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lafayette built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lafayette built from 1995 and later (29.40%). A lesser amount of the housing stock also hails from 1940-1969 (8.46%), and some were built from 1939 and earlier (8.46%).

Lafayette home appreciation rates

Appreciation rates for homes in Lafayette have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 86.05%, which ranks in the top 40% nationwide. This equates to an annual average Lafayette house appreciation rate of 8.60%.

Appreciation rates are so strong in Lafayette that despite a nationwide downturn in the housing market, Lafayette real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lafayette appreciation rates continue to be some of the highest in America, at 3.76%, which is higher than appreciation rates in 82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lafayette. Lafayette appreciation rates in the latest quarter were at 0.58%, which equates to an annual appreciation rate of 2.32%.

Relative to Colorado, our data show that Lafayette's latest annual appreciation rate is higher than 64% of the other cities and towns in Colorado.