ZIP Code · IN

ZIP 47905

Part of Lafayette, IN

Pop. 42,219·Tippecanoe County·69th most expensive ZIP in Indiana

Median rent (all units)

$1,351/mo

Year-over-Year

+6.4%

Month-over-Month

+0.5%

vs US Median

-$581

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 47905 · $1,351

More affordable than 83% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$910

1 BR

$1,060

2 BR

$1,270

3 BR

$1,520

4 BR+

$2,040

Research median

$1,270/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: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Indiana

Rent in ZIP 47905 changed +6.4% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.

Recent direction

Rent has risen 4 months in a row, and rose in 11 of the last 12 months.

What a typical income covers

30% of the median household income ($65,861) is $1,647 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,520); a 4-bedroom is $2,040.

Rank in Lafayette

3rd cheapest of 4 ZIP codes in Lafayette.

Cheaper nearby

ZIP 47904, 6 miles away, rents for 17% less ($1,116/mo), about $2,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 47905. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$16,212/yr

At $1,351/mo median

Location

CityLafayette

StateIN

CountyTippecanoe County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.4% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.4% YoY, +0.5% MoM), not inventory.

Demographics

Who lives here

ZIP 47905 (Lafayette, IN) is majority owner-occupied, has a median income below the national average, 32.6% of residents hold a bachelor's degree or higher.

Population

42,219

Median income

$65,861

Median age

36.3

Renters

38.6%

Age distribution

24.8%

23.7%

23.6%

16.2%

Under 1824.8%

18–3423.7%

35–5423.6%

55–6411.6%

65+16.2%

Gender

49.7%

50.3%

Male49.7%

Female50.3%

Race & ethnicity

75.9%

12.7%

White75.9%

Black7.8%

Hispanic12.7%

Asian2.9%

Other0.6%

Education (25+)

32.3%

26.6%

32.6%

No HS diploma8.5%

HS diploma32.3%

Some college26.6%

Bachelor's+32.6%

Housing tenure

61.4%

38.6%

Owner61.4%

Renter38.6%

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

2021 vs 2026

How ZIP 47905 in Lafayette, IN has changed in 5 years

Income

$58,314 → $65,861

up 12.9%

Population

42,047 → 42,219

up 0.4%

Renter share

38.8% → 38.6%

-0.2 pts

Bachelor's+

34.7% → 32.6%

-2.1 pts

Median age

34.6 → 36.3

+1.7 yrs

Census figures show median household income at $65,861 today, compared with $58,314 five years earlier. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 34.7% to 32.6%.

Community

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Local insights

Tips for renters in ZIP 47905

About renting in ZIP 47905

Last updated: October 17, 2026

ZIP code 47905 covers Lafayette, IN. The median rent here is $1,351/mo as of October 2026. A 1-bedroom rents for a median of $1,060/mo. A 2-bedroom rents for a median of $1,270/mo.

At 25% of local median household income ($65,861/yr), ZIP 47905 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 47905?

To keep rent at or below 30% of gross income, you would need to earn at least $54,000/year (about $26/hour full-time) to afford the median rent of $1,351/mo in ZIP 47905. The local median household income is $65,861/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 47905?

Rent in ZIP 47905 has risen 6.4% over the past year.

How does ZIP 47905 compare to other ZIPs in Indiana?

ZIP 47905 is in the middle among Indiana ZIP codes for rent, ranking #69 of 139 at $1,351/mo. Over the year to September 2026, rent in ZIP 47905 changed +6.4%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.