Mortgage payment estimates, closing cost breakdowns, and homebuying data for Lafayette, Louisiana.
Pre-filled with Lafayette median home price and Louisiana tax/insurance rates. Adjust for your property.
Estimated closing costs based on Louisiana rates and fees applied to Lafayette prices.
The median home price in Lafayette is $225,000, 15% above the Louisiana state median of $195,000. With a population of 126,185, Lafayette is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Louisiana average 0.55% annually. This low property tax rate is a significant advantage for Lafayette buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Louisiana runs approximately $3,500 per year. Insurance costs are notably high — factor this into your monthly budget.
Average rent in Lafayette is $1,050/month. The price-to-rent ratio in Lafayette is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Lafayette offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Louisiana's LHC Resilience Soft Second program.