Lafayette, IN Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lafayette, IN Housing Market Trends

With 71,721 people, 31,537 houses or apartments, and a median cost of homes of $124,929, 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 58.08% of the city's housing units. Other types of housing that are prevalent in Lafayette include large apartment complexes or high rise apartments ( 22.34%), duplexes, homes converted to apartments or other small apartment buildings ( 14.32%), and a few row houses and other attached homes ( 3.44%).

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 47.64% owning and 52.36% 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 ( 30.96%). A lesser amount of the housing stock also hails from before 1939 ( 18.06%). There's also some housing in Lafayette built between 2000 and later ( 13.28%).

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 33.65%, which ranks in the top 50% nationwide. This equates to an annual average Lafayette house appreciation rate of 2.94%.

NeighborhoodScout's data show that during the latest twelve months, Lafayette's appreciation rate, at 5.58%, has been at or slightly above the national average. In the latest quarter, Lafayette's appreciation rate has been 1.98%, which annualizes to a rate of 8.16%.

Relative to Indiana, our data show that Lafayette's latest annual appreciation rate is lower than 80% 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

 
info

Median Home Value:
$124,929

Lafayette, IN HOME PRICES

> $1,208,000
0.2%
0.2%
$905,001 - $1,208,000
0.0%
0.0%
$604,001 - $905,000
0.8%
0.8%
$483,001 - $604,000
0.6%
0.6%
$362,001 - $483,000
2.0%
2.0%
$242,001 - $362,000
7.3%
7.3%
$121,001 - $242,000
43.5%
43.5%
$60,001 - $121,000
39.9%
39.9%
$0 - $60,000
5.7%
5.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for IN

Value Relative To Nation

Number Of Homes And Apartments:
31,537

Lafayette Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
33.71% 1.39%
2
1
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$964 / per month

Homeownership Rate

Owners
47.6%
47.6%
Renters
52.4%
52.4%
Vacant
7.1%
7.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
13.3%
13.3%
1970 - 1999
37.7%
37.7%
1940 - 1969
31.0%
31.0%
1939 or Older
18.1%
18.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
58.1%
58.1%
Townhomes
3.4%
3.4%
Small Apt. Buildings
14.3%
14.3%
Apt. Complexes
22.3%
22.3%
Mobile Homes
1.8%
1.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.7%
2.7%
1 Bedroom
18.1%
18.1%
2 Bedrooms
27.8%
27.8%
3 Bedrooms
39.8%
39.8%
4 Bedrooms
10.3%
10.3%
5 or more bedrooms
1.3%
1.3%
0.0% 100.0%
% OF HOMES