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)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Lafayette Parish Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lafayette Parish ranks #2,396 of 3,142 counties for affordability (bottom 24%)
Sourced county brief
Lafayette Parish Median Owner Costs Above State Unweighted Mean
Median selected monthly owner costs in Lafayette Parish were estimated at $1,127, a figure that is $389 above the Louisiana unweighted county mean of $738. The official ACS B25071 GRAPI is 31.3% for this parish, which is 1.4 percentage points lower than the state unweighted county mean official GRAPI of 32.7%. Median gross rent was $1,057 per month, which is $143 higher than the state unweighted county mean of $914. The median home value in the parish was $242,900, compared to the Louisiana unweighted county mean of $167,369. Renter households in the parish had a median income of $39,843. These observations are based on the American Community Survey 5-Year Estimates for the 2020-2024 period and provide a reproducible data snapshot. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Lafayette Parish
Affordability Verdict
ACS B25071 estimates median gross rent at 31.3% of renter household income in Lafayette Parish, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,057 per month; median selected monthly owner costs are $1,127. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $42,280 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Louisiana unweighted mean of county median rents is $914 per month. Lafayette Parish's $1,057 median is 15.6% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Lafayette Parish
Rent Burden
18.8%
of gross income
Max Housing (28% Rule)
$1,574
per month
Owner Cost Burden
20.1%
of gross income
The median home in Lafayette Parish may be a stretch
Median home value is $242,900. Estimated monthly cost: $1,939 vs. your max of $1,574.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
What is the cost of living in Lafayette Parish, Louisiana?
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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