Lafayette, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lafayette Neighborhoods Since 2000




Lafayette, LA Real Estate Data


Lafayette Housing Market Information

With a population of 127,657, 50,025 total housing units (homes and apartments), and a median house value of $180,291, Lafayette real estate is some of the most expensive in Louisiana, although Lafayette home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Lafayette, accounting for 61.59% of the city's housing units. Other types of housing that are prevalent in Lafayette include large apartment complexes or high rise apartments ( 24.99%), duplexes, homes converted to apartments or other small apartment buildings ( 6.66%), and a few row houses and other attached homes ( 3.84%).

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 52.88% owning and 47.12% 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 ( 29.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.78%). There's also some housing in Lafayette built before 1939 ( 3.77%).

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 10.30%, which ranks in the top 30% nationwide. This equates to an annual average Lafayette house appreciation rate of 0.99%.

Over the last year, Lafayette appreciation rates have trailed the rest of the nation. In the last twelve months, Lafayette's appreciation rate has been 0.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lafayette were at 0.41%, which equates to an annual appreciation rate of 1.63%.

Relative to Louisiana, our data show that Lafayette's latest annual appreciation rate is lower than 80% of the other cities and towns in Louisiana.

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:
$180,291

Lafayette, LA HOME PRICES

Value Range
> $1,068,000 0.4
$801,001 - $1,068,000 0.8
$534,001 - $801,000 3.0
$427,001 - $534,000 3.1
$320,001 - $427,000 7.6
$213,001 - $320,000 19.9
$107,001 - $213,000 39.6
$53,001 - $107,000 14.6
$0 - $53,000 10.6

Very High for LA
High for Nation

Value Relative to Nation Value Relative to State
37.7358490566038 10.4529616724739

Number Of Homes And Apartments:
50,025

Rent & Ownership

 

Average Market Rent:
$991 / per month

Homeownership Rate

Homeownership
Owners 52.88
Renters 47.12
Vacant 8.51

Housing Market Details

 

Age of Homes

AGE OF Lafayette HOMES
2000 or Newer 16.8
1970 - 1999 50.2
1940 - 1969 29.3
1939 or Older 3.8

Types of Homes

TYPE OF Lafayette HOMES
Single-Family 61.6
Townhomes 3.8
Small Apt. Buildings 6.7
Apt. Complexes 25.0
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF Lafayette HOMES
No Bedroom 1.76
1 Bedroom 13.71
2 Bedrooms 27.85
3 Bedrooms 42.13
4 Bedrooms 12.55
5 or more bedrooms 2.00

Lafayette Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
55.21% 2.58% 5 7
* 10 is highest