Quick facts: Lafayette, IN

Quick Facts

95.3
Cost of Living
below US average
71,402
Population
27.62
Crime Rate per 1000
above US average
$50,674
Median Income
below US average
$295,000
Median House Price
above US average
$1509.21
Average Rent
above US average
14%
Poverty Rate
above US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $50,674.

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Income Needed to Buy

βœ— Stretch
$93k/year
Based on $295,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $93k vs median $50,674
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Income Needed to Rent

⚠ Stretch
$65k/year
Based on $1509.21/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $65k vs median $50,674
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lafayette, IN

Lafayette, Indiana, located in Tippecanoe County, is a vibrant city known for its rich history and thriving community. Situated along the banks of the Wabash River, Lafayette is home to approximately 70,000 residents. The city is closely associated with Purdue University, located in the neighboring West Lafayette, which brings a youthful energy and an array of cultural and educational opportunities to the area. Lafayette features a charming downtown area with unique shops, restaurants, and local events, including the famous Lafayette Farmers Market. The city’s historical architecture is evident in landmarks such as the Tippecanoe County Courthouse and the Art Museum, which showcases regional artwork. Outdoor enthusiasts can enjoy several parks and recreational facilities, including the expansive Tapawingo Park and the scenic Wabash Heritage Trail, perfect for walking, cycling, or enjoying nature. Lafayette is also a hub for innovation, with growing industries in technology and manufacturing. With a blend of history, education, and community spirit, Lafayette provides a welcoming atmosphere for residents and visitors alike.

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