Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 71,782 people, 31,032 houses or apartments, and a median cost of homes of $118,364, house prices in Lafayette are solidly below the national average.
Single-family detached homes are the single most common housing type in Lafayette, accounting for 57.76% of the city's housing units. Other types of housing that are prevalent in Lafayette include large apartment complexes or high rise apartments ( 23.10%), duplexes, homes converted to apartments or other small apartment buildings ( 12.74%), and a few row houses and other attached homes ( 4.63%).
People in Lafayette primarily live in small (one, two or no bedroom) single-family detached homes. Lafayette has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Lafayette built from 1970 to 1999 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 between 1940-1969 ( 31.16%). A lesser amount of the housing stock also hails from before 1939 ( 18.42%). There's also some housing in Lafayette built between 2000 and later ( 11.95%).
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 17.31%, which ranks in the top 40% nationwide. This equates to an annual average Lafayette house appreciation rate of 1.61%.
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 8.41%, which is higher than appreciation rates in 85.19% 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 4.76%, which equates to an annual appreciation rate of 20.43%.
Importantly, this makes Lafayette one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Indiana, our data show that Lafayette's latest annual appreciation rate is higher than 70% of the other cities and towns in Indiana.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lafayette differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lafayette - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lafayette real estate investment or home purchase decisions.
|$896,001 - $1,194,000||0.0|
|$597,001 - $896,000||0.3|
|$478,001 - $597,000||0.8|
|$358,001 - $478,000||1.2|
|$239,001 - $358,000||6.8|
|$120,001 - $239,000||39.3|
|$60,001 - $120,000||43.0|
|$0 - $60,000||8.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
2000 Q1 - 2018 Q3
|* 10 is highest|
|AGE OF Lafayette HOMES|
|2000 or Newer||12.0|
|1970 - 1999||38.5|
|1940 - 1969||31.2|
|1939 or Older||18.4|
|TYPE OF Lafayette HOMES|
|Small Apt. Buildings||12.7|
|SIZE OF Lafayette HOMES|
|5 or more bedrooms||1.34|