Lafayette, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lafayette Neighborhoods Since 2000




Lafayette, TN 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Lafayette Housing Market Information

With a population of 4,991, 2,074 total housing units (homes and apartments), and a median house value of $115,831, 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 60.36% of the city's housing units. Other types of housing that are prevalent in Lafayette include large apartment complexes or high rise apartments ( 17.66%), mobile homes or trailers ( 12.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.89%).

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 49.86% owning and 50.14% 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 ( 22.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.15%). There's also some housing in Lafayette built before 1939 ( 3.92%).

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 3.37%, which ranks in the top 50% nationwide. This equates to an annual average Lafayette house appreciation rate of 0.33%.

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 5.69%, which is higher than appreciation rates in 71.24% 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 2.76%, which equates to an annual appreciation rate of 11.51%.

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 Tennessee, our data show that Lafayette's latest annual appreciation rate is higher than 70% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$115,831

Lafayette, TN HOME PRICES

Value Range
> $1,153,000 0.0
$864,001 - $1,153,000 0.0
$576,001 - $864,000 0.5
$461,001 - $576,000 1.2
$346,001 - $461,000 5.0
$231,001 - $346,000 7.1
$115,001 - $231,000 33.4
$58,001 - $115,000 43.3
$0 - $58,000 9.5

Average for TN
Low for Nation

Value Relative to Nation Value Relative to State
67.813195827962 56.1224489795918

Number Of Homes And Apartments:
2,074

Lafayette Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
25.84% 1.34% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$767 / per month

Homeownership Rate

Homeownership
Owners 49.86
Renters 50.14
Vacant 5.38

Housing Market Details

 

Age of Homes

AGE OF Lafayette HOMES
2000 or Newer 16.1
1970 - 1999 57.2
1940 - 1969 22.8
1939 or Older 3.9

Types of Homes

TYPE OF Lafayette HOMES
Single-Family 60.4
Townhomes 1.8
Small Apt. Buildings 7.9
Apt. Complexes 17.7
Mobile Homes 12.3
Other 0.0

Home Size

SIZE OF Lafayette HOMES
No Bedroom 1.87
1 Bedroom 11.09
2 Bedrooms 27.83
3 Bedrooms 47.54
4 Bedrooms 9.53
5 or more bedrooms 2.14

Popular Neighborhoods in Lafayette

Zip Codes in Lafayette, TN