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City Report · LA

Lafayette

Pop. 121,715·28th most expensive in Louisiana·One of the most affordable rental markets in the US
Median rent (all units)
$1,321/mo
Year-over-Year
+4.7%
Month-over-Month
+1.5%
vs US Median
-$609
Rising (Monthly)
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Most AffordableMost Expensive
Lafayette · $1,321
More affordable than 86% of US cities · National median $1,930/mo
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Medians by bedroom

Rent by unit size

Studio
$776
1 BR
$978
2 BR
$1,106
3 BR
$1,390
4 BR+
$1,828
Research median
$1,106/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: May 30, 2026

Annual cost
$15,852/yr
At $1,321/mo median
Market timing
Rents rising
Act sooner rather than later.
Rent Reality Score
54/100
Fairly priced
OverheatedFairGreat value

Rents are 2% below what Lafayette's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$1,321/mo
Expected by trend
$1,349/mo
The Rent Reality Score compares today's median rent to where Lafayette's own long-run trajectory projects it should be. See the full rankings →
Demographics

Who lives here

Lafayette, LA is roughly split between renters and owners, has a median income below the national average, 41.1% of residents hold a bachelor's degree or higher.

Population
121,715
Median income
$61,915
Median age
36.9
Renters
46.9%
Age distribution
20.9%
26.2%
23.1%
12.5%
17.3%
Under 1820.9%
18–3426.2%
35–5423.1%
55–6412.5%
65+17.3%
Gender
49%
51%
Male49%
Female51%
Race & ethnicity
57.1%
29.1%
White57.1%
Black29.1%
Hispanic8.1%
Asian2.2%
Other3.5%
Education (25+)
24.9%
24.9%
41.1%
No HS diploma9.1%
HS diploma24.9%
Some college24.9%
Bachelor's+41.1%
Housing tenure
53.1%
46.9%
Owner53.1%
Renter46.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Lafayette, LA has changed in 5 years

Rent
$1,062 → $1,321
up 24.4%
Income
$55,329 → $61,915
up 11.9%
Population
122,469 → 121,715
down 0.6%
Renter share
43.7% → 46.9%
+3.2 pts
Bachelor's+
39.4% → 41.1%
+1.7 pts
Median age
36.3 → 36.9
+0.6 yrs

Five years ago, renters in Lafayette, LA paid around $1,062 a month. That figure now sits near $1,321, up 24.4% from the 2021 baseline. Census figures show median household income at $61,915 today, compared with $55,329 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has risen from 43.7% to 46.9%, with owner-occupied housing accounting for the remainder. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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View Lafayette rent history (2015–2026) →
Salary vs rent

Can you afford rent in Lafayette on your salary?

At $1,321/mo, how Lafayette rent compares to typical pay (30% rule).

By apartment size

Lafayette rent by bedroom count

Median rent for each apartment size in Lafayette. Click any size for full breakdown.

Local insights

Tips for renters in Lafayette

About renting in Lafayette, LA

Last updated: May 30, 2026

The median rent in Lafayette is $1,321/mo as of May 2026. A studio apartment averages $776/mo while a 2-bedroom runs $1,106/mo. One-bedroom apartments average $978/mo and 3-bedroom units go for $1,390/mo.

At 26% of local median household income ($61,915/yr), Lafayette ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.7% over the past year.

FAQ

Frequently asked questions

Is Lafayette an affordable city for renters?

Lafayette is considered affordable for renters. At $1,321/mo, rent takes approximately 26% of the local median household income ($61,915/yr). The standard benchmark is 30%. Lafayette falls comfortably within that range.

How much income do you need to rent in Lafayette?

To keep rent at or below 30% of gross income, you would need to earn at least $53,000/year (~$25/hour full-time) to afford the median rent of $1,321/mo in Lafayette. The local median household income is $61,915/yr, meaning the typical Lafayette household meets that threshold.

Is rent going up or down in Lafayette?

Rent in Lafayette has increased 4.7% over the past year as of May 2026, putting upward pressure on renter budgets.

Which Lafayette neighborhoods have the lowest rent?

The most affordable ZIP codes in Lafayette are 70501 ($970/mo), 70503 ($1,283/mo), and 70508 ($1,373/mo). Citywide, the median rent in Lafayette is $1,321/mo.

How does Lafayette rent compare to other cities in Louisiana?

Lafayette is middle-of-the-pack for Louisiana for rent, ranking #28 out of 44 tracked cities at $1,321/mo.

Which nearby cities are cheaper to rent in than Lafayette?

New Iberia is nearby and more affordable at $1,295/mo, which is $26 less than Lafayette.

What percentage of Lafayette residents rent vs. own?

According to Census data, approximately 46.9% of Lafayette households are renters, while 53.1% are owner-occupied. Lafayette leans toward homeownership, which can mean a smaller rental inventory.

How does Lafayette rent compare to the national average?

Lafayette's median rent of $1,321/mo is $609 (32%) below the US national median of $1,930/mo. Within Louisiana, it ranks #28 out of 44 tracked cities.
Affordability
26%
AFFORDABLE

At $1,321/mo, rent takes ~26% of Lafayette's median household income ($61,915/yr). The standard benchmark is 30%.

Lafayette 26%Benchmark 30%
State income tax1.85–4.25%
Run the Lafayette affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Lafayette, LA

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