Lafayette, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Lafayette, IN Real Estate Data

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 Q3 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lafayette Housing Market Information

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%).

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 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.

Average Home Values

 

Median Home Value:
$118,364

Lafayette, IN HOME PRICES

Value Range
> $1,194,000 0.1
$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

Low for IN
Low for Nation

Value Relative to Nation Value Relative to State
71.7956204379562 68.3257918552036

Number Of Homes And Apartments:
31,032

Lafayette Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2018 Q3
17.04% 0.84%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$952 / per month

Homeownership Rate

Homeownership
Owners 46.23
Renters 53.77
Vacant 8.15

Housing Market Details

 

Age of Homes

AGE OF Lafayette HOMES
2000 or Newer 12.0
1970 - 1999 38.5
1940 - 1969 31.2
1939 or Older 18.4

Types of Homes

TYPE OF Lafayette HOMES
Single-Family 57.8
Townhomes 4.6
Small Apt. Buildings 12.7
Apt. Complexes 23.1
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Lafayette HOMES
No Bedroom 2.23
1 Bedroom 16.83
2 Bedrooms 30.62
3 Bedrooms 39.10
4 Bedrooms 9.88
5 or more bedrooms 1.34