Quick facts: Lafayette, LA

Quick Facts

98.7
Cost of Living
below US average
121,389
Population
48.73
Crime Rate per 1000
above US average
$58,850
Median Income
below US average
$159,000
Median House Price
above US average
$1327.22
Average Rent
below US average
18%
Poverty Rate
above US average
4.1%
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 $58,850.

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Income Needed to Buy

βœ“ Affordable
$50k/year
Based on $159,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($58,850) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$57k/year
Based on $1327.22/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($58,850) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lafayette, LA

Lafayette, Louisiana, is a vibrant city nestled in the heart of Acadiana, known for its rich cultural heritage and strong Cajun and Creole influences. Located in the southern part of the state, Lafayette is a hub for music, food, and festivals, attracting visitors with its lively atmosphere. The city is renowned for its Cajun cuisine, offering delectable dishes like gumbo, jambalaya, and crawfish Γ©touffΓ©e. Lafayette is home to the University of Louisiana at Lafayette, which adds a youthful energy to the city and provides a variety of educational and cultural opportunities. The city's downtown area features a mix of charming boutiques, art galleries, and music venues, contributing to its dynamic arts scene. Outdoor enthusiasts can explore the nearby Atchafalaya Basin, the largest swampland in the U.S., for activities like fishing, kayaking, and wildlife watching. The city also hosts numerous events, including the Lafayette Science Festival and Festivals Acadiens et CrΓ©oles, celebrating local culture. With warm hospitality and a rich tapestry of traditions, Lafayette serves as a charming destination for anyone looking to experience the unique spirit of Louisiana.

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