Average Rent in Lafayette, LA↑ Rents rising 7.2% YoY

Lafayette, LA has rental prices ranging from $835/month to $1,607/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $971/month — 31% below the national average of $1,400/month. With a median household income of $60,910/year, spending $971/month on a 1-bedroom represents 19% of gross income — within the recommended 30% threshold.

How Lafayette Compares

With an average 2-bedroom rent of $1,092/month, Lafayette ranks #9 most expensive of the 51 cities tracked in Louisiana — pricier than 63% of all US cities in our data.

The Lafayette Rental Market

The Lafayette, LA area has a population of about 410,883 and 31% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Lafayette, LA have risen by $73/month (7.2%) over the past year, from $1,019 to $1,092. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Lafayette, LA without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $38,840. The local median household income of $60,910 exceeds that threshold by $22,070, making Lafayette relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Lafayette, LA is $224,537, giving a price-to-rent ratio of 17.1. With a break-even horizon of approximately 17 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Is Lafayette, LA Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Lafayette?

Break-even analysis and mortgage estimates based on local market data.

Living in Lafayette

Cost of living, job market, crime rates, and moving cost estimates.