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 about Scout's Real Estate Data
With 70,835 people, 31,362 houses or apartments, and a median cost of homes of $166,462, 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 56.88% of the city's housing units. Other types of housing that are prevalent in Lafayette include large apartment complexes or high rise apartments ( 22.67%), duplexes, homes converted to apartments or other small apartment buildings ( 14.86%), and a few row houses and other attached homes ( 4.00%).
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 ( 31.85%). A lesser amount of the housing stock also hails from before 1939 ( 17.46%). There's also some housing in Lafayette built between 2000 and later ( 14.59%).
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 77.54%, which ranks in the top 50% nationwide. This equates to an annual average Lafayette house appreciation rate of 5.91%.
NeighborhoodScout's data show that during the latest twelve months, Lafayette's appreciation rate, at 7.32%, has been at or slightly above the national average. In the latest quarter, Lafayette's appreciation rate has been -0.15%, which annualizes to a rate of -0.58%.
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.
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