Cost of Living in Lafayette Parish, Louisiana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Lafayette Parish Compares
Median monthly rent comparison
Detailed Housing Stats
Data Story
About Cost of Living in Lafayette Parish, Louisiana
Lafayette Parish delivers strong affordability relative to income
With an 18.1% rent-to-income ratio and a median household income of $67,660, Lafayette Parish beats the national average for affordability while earning reasonably close to the national median of $74,755. This combination makes it one of the most balanced markets in the region.
Top-tier affordability for a growing Louisiana hub
Lafayette Parish achieves an 18.1% rent-to-income ratio—well below Louisiana's 19.5% state average—while serving as the economic engine of Acadiana. The median rent of $1,022/month is 17% above state average but paired with above-average incomes that make it manageable.
Best value among higher-income parishes
Lafayette's $1,022/month rent sits between smaller rural parishes and expensive Jefferson Parish ($1,162), while its $67,660 median income ranks second-highest in the group. This positions Lafayette as an attractive balance of amenities, economic opportunity, and affordability.
Renters spend 18.1%; homeowners face steeper burden
Renters dedicate $1,022 monthly—just 18.1% of $67,660 income—making rent manageable. Homeowners pay $1,083/month on a $234,200 median home value, a higher absolute cost but still reasonable given the parish's income levels.
Lafayette Parish: affordability meets opportunity
As Louisiana's second-largest metro area with a diversified economy, Lafayette offers above-average incomes paired with reasonable housing costs and a strong 18.1% rent ratio. This parish delivers the best combination of affordability and economic potential in the region.
Affordability Calculator
See how your income compares to housing costs in Lafayette Parish
Rent Burden
18.1%
of gross income
Max Housing (28% Rule)
$1,579
per month
Owner Cost Burden
19.2%
of gross income
The median home in Lafayette Parish may be a stretch
Median home value is $234,200. Estimated monthly cost: $1,870 vs. your max of $1,579.
Rent Affordability Guide
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.