West Lafayette IN

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West 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

West Lafayette Housing Market Information

With 50,996 people, 13,834 houses or apartments, and a median cost of homes of $249,234, West Lafayette real estate is some of the most expensive in Indiana, although West Lafayette home values aren't among America's most expensive.

Large apartment complexes or high rise apartments are the single most common housing type in West Lafayette, accounting for 51.88% of the city's housing units. Other types of housing that are prevalent in West Lafayette include single-family detached homes ( 37.45%), duplexes, homes converted to apartments or other small apartment buildings ( 6.97%), and a few row houses and other attached homes ( 3.49%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

West Lafayette is dominated by renter-occupied one, two, or no bedrooms apartments. 65.43% of West Lafayette's dwellings are rentals.

There is a lot of housing in West 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 West Lafayette built between 1940-1969 ( 23.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.29%). There's also some housing in West Lafayette built before 1939 ( 7.63%).

Vacant housing appears to be an issue in West Lafayette. Fully 11.20% of the housing stock is classified as vacant. Left unchecked, vacant West Lafayette homes and apartments can be a drag on the real estate market, holding West Lafayette real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

West Lafayette Home Appreciation Rates

Appreciation rates for homes in West 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 35.12%, which ranks in the top 40% nationwide. This equates to an annual average West Lafayette house appreciation rate of 3.06%.

Appreciation rates are so strong in West Lafayette that despite a nationwide downturn in the housing market, West Lafayette real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Lafayette appreciation rates continue to be some of the highest in America, at 6.26%, which is higher than appreciation rates in 89.34% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Lafayette. West Lafayette appreciation rates in the latest quarter were at 2.25%, which equates to an annual appreciation rate of 9.33%.

Importantly, this makes West 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 West Lafayette's latest annual appreciation rate is higher 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 West Lafayette differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West 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 West Lafayette real estate investment or home purchase decisions.

Average Home Values


Median Home Value:

West Lafayette, IN HOME PRICES

Value Range
> $1,211,000 0.0
$908,001 - $1,211,000 0.9
$605,001 - $908,000 2.0
$485,001 - $605,000 5.3
$363,001 - $485,000 12.4
$242,001 - $363,000 25.2
$121,001 - $242,000 47.4
$61,001 - $121,000 3.4
$0 - $61,000 3.4

Very High for IN
High for Nation

Value Relative to Nation Value Relative to State
29.9270072992701 6.78733031674208

Number Of Homes And Apartments:

West Lafayette Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
45.11% 1.81%
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,043 / per month

Homeownership Rate

Owners 34.57
Renters 65.43
Vacant 11.20

Housing Market Details


Age of Homes

AGE OF West Lafayette HOMES
2000 or Newer 21.3
1970 - 1999 47.9
1940 - 1969 23.2
1939 or Older 7.6

Types of Homes

TYPE OF West Lafayette HOMES
Single-Family 37.5
Townhomes 3.5
Small Apt. Buildings 7.0
Apt. Complexes 51.9
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF West Lafayette HOMES
No Bedroom 6.54
1 Bedroom 19.07
2 Bedrooms 28.24
3 Bedrooms 23.35
4 Bedrooms 18.20
5 or more bedrooms 4.60