Cost of Living in Lafayette, IN

Housing

The housing market plays a significant role in determining the cost of living in Lafayette, IN.

• Housing Index: 90.0 / 100
• Median Home Price is: $218000
• Average Rent (2 BR Apartment): $900 per month
• Average Rent (2 BR House): $950 per month

Considering a move to Lafayette, IN? The housing index at 90.0 indicates an overall affordable housing market compared to the national average. The median home price of 218000 makes home ownership attainable, while average rents of 900 for a 2-bedroom apartment and 950 for a 2-bedroom house provide further options for renters. Overall, Lafayette offers a balanced landscape for both buyers and renters, creating a viable choice for those seeking a higher quality of life without an exorbitant cost.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lafayette, IN.

• Electricity Price: 14.89 USD (median by state)
• Natural Gas Price: $None USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $250 per month

Living in Lafayette, IN could entail higher utility costs. Electricity costs sit at 14.89, while natural gas is priced at None per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 95.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $50674

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Lafayette, IN, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.