Lafayette, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lafayette, IN Real Estate Data


Lafayette Housing Market Information

With a population of 71,111, 29,448 total housing units (homes and apartments), and a median house value of $118,374, 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 58.37% of the city's housing units. Other types of housing that are prevalent in Lafayette include large apartment complexes or high rise apartments ( 24.10%), duplexes, homes converted to apartments or other small apartment buildings ( 11.62%), and a few row houses and other attached homes ( 4.09%).

The most prevalent building size and type in Lafayette are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.53% owning and 52.47% renting.

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 ( 30.56%). A lesser amount of the housing stock also hails from before 1939 ( 19.60%). There's also some housing in Lafayette built between 2000 and later ( 11.13%).

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 4.62%, which ranks in the top 50% nationwide. This equates to an annual average Lafayette house appreciation rate of 0.45%.

NeighborhoodScout's data show that during the latest twelve months, Lafayette's appreciation rate, at 5.69%, has been at or slightly above the national average. In the latest quarter, Lafayette's appreciation rate has been 1.27%, which annualizes to a rate of 5.17%.

Relative to Indiana, our data show that Lafayette's latest annual appreciation rate is lower than 50% 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.

Average Home Values

 

Median Home Value:
$118,374

Lafayette, IN HOME PRICES

Value Range
> $1,129,000 0.0
$846,001 - $1,129,000 0.0
$564,001 - $846,000 0.9
$451,001 - $564,000 0.8
$338,001 - $451,000 1.8
$226,001 - $338,000 6.7
$113,001 - $226,000 38.8
$56,001 - $113,000 41.9
$0 - $56,000 9.0

Average for IN
Low for Nation

Value Relative to Nation Value Relative to State
67.3303273408678 59.0497737556561

Number Of Homes And Apartments:
29,448

Rent & Ownership

 

Average Market Rent:
$826 / per month

Homeownership Rate

Homeownership
Owners 47.53
Renters 52.47
Vacant 8.83

Housing Market Details

 

Age of Homes

AGE OF Lafayette HOMES
2000 or Newer 11.1
1970 - 1999 38.7
1940 - 1969 30.6
1939 or Older 19.6

Types of Homes

TYPE OF Lafayette HOMES
Single-Family 58.4
Townhomes 4.1
Small Apt. Buildings 11.6
Apt. Complexes 24.1
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Lafayette HOMES
No Bedroom 1.79
1 Bedroom 17.23
2 Bedrooms 30.10
3 Bedrooms 39.12
4 Bedrooms 10.16
5 or more bedrooms 1.60

Lafayette Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
6.58% 0.38% 2 1
* 10 is highest