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 Q2 2021. 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 $133,031, 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 46.71%, which ranks in the top 50% nationwide. This equates to an annual average Lafayette house appreciation rate of 3.91%.

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 11.50%, which is higher than appreciation rates in 80.39% 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 2.61%, which equates to an annual appreciation rate of 10.84%.

Relative to Indiana, our data show that Lafayette's latest annual appreciation rate is higher than 90% 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:
$133,031

Lafayette, IN HOME PRICES

> $1,265,000
0.2%
0.2%
$949,001 - $1,265,000
0.0%
0.0%
$633,001 - $949,000
0.8%
0.8%
$506,001 - $633,000
0.6%
0.6%
$379,001 - $506,000
2.0%
2.0%
$253,001 - $379,000
7.3%
7.3%
$126,001 - $253,000
43.5%
43.5%
$63,001 - $126,000
39.9%
39.9%
$0 - $63,000
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:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
40.81% 1.60%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,030 / 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

 

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