Lafayette Parish, Louisiana Housing Market
In Lafayette Parish, Louisiana, the median home value is $242,900, with a median monthly rent of $1,057. This places Lafayette Parish at #951 nationally out of 3134 counties by median home value, and #9 within Louisiana.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,147
- Establishments: 12,058
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,612
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 94,859 (avg $83,927)
- Outflow: 91,677 (avg $84,456)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 8 active ZIP codes in Lafayette Parish · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 70555 | 223.5 | +25.82% | 2025 |
| 2 | 70507 | 176.7 | -13.67% | 2025 |
| 3 | 70508 | 196.0 | -2.22% | 2025 |
| 4 | 70517 | 219.6 | +1.35% | 2025 |
| 5 | 70501 | 200.7 | +6.74% | 2025 |
| 6 | 70520 | 198.1 | +0.82% | 2025 |
| 7 | 70503 | 201.8 | +3.59% | 2025 |
| 8 | 70506 | 196.6 | -1.91% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
How Lafayette Parish Compares
| Metric | Lafayette Parish | Louisiana Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $242,900 | $167,368 | $227,706 |
| Median Gross Rent | $1,057 | $914 | $968 |
| Owner Occupancy Rate | 65.5% | 72.2% | 73.3% |
| Price/Rent Ratio | 19.2 | 15.1 | 18.7 |
Market Analysis
The median home value in Lafayette Parish is 45.1% above the Louisiana state average and 6.7% above the U.S. national average. The median rent of $1,057/month is 15.6% above the state average.
With a price-to-rent ratio of 19.2, the buy-vs-rent decision in Lafayette Parish is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Lafayette Parish has an owner-occupancy rate of 65.5%, compared to 72.2% in Louisiana and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Richland County | South Carolina | $242,800 | $1,228 |
| Marion County | Florida | $243,100 | $1,277 |
| Yancey County | North Carolina | $243,100 | $882 |
| Ashe County | North Carolina | $243,100 | $859 |
| Philadelphia County | Pennsylvania | $243,100 | $1,397 |
Other Counties in Louisiana
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| West Feliciana Parish | $245,700 | $1,049 | 75.7% |
| East Baton Rouge Parish | $248,800 | $1,147 | 59.3% |
| Jefferson Parish | $251,400 | $1,190 | 62.6% |
| Livingston Parish | $230,600 | $1,151 | 80.7% |
| West Baton Rouge Parish | $229,900 | $973 | 76.8% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-13. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).