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City · 71,159 residents · Tippecanoe County, Indiana

Lafayette , Indiana

In Lafayette, a typical home is worth $172,800 and typical rent is $1,079 a month. Compared with all of Tippecanoe County, the typical home value is 28% lower, typical household income is 11% lower, and the share of households that own their home is 7 points lower.

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  • Typical home value

    $172,800

    28% below the county

    21% below Indiana

    • Lafayette
    • Tippecanoe
    • Indiana

  • Typical rent

    $1,079a month

    4% below the county

    About the same as Indiana

    • Lafayette
    • Tippecanoe
    • Indiana

  • Typical household income

    $53,716a year

    11% below the county

    25% below Indiana

    • Lafayette
    • Tippecanoe
    • Indiana

  • Households that own their home

    47%

    7 points below the county

    24 points below Indiana

    • Lafayette
    • Tippecanoe
    • Indiana

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$264,702
2.9% more than 12 months ago
Typical rent
$1,282 a month
2.7% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Lafayette is in Tippecanoe County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Tippecanoe County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Lafayette apart

What this place has that others do not, from public data, most unusual first.

  1. Lafayette has the 6th lowest homeownership rate of the 134 cities in Indiana with more than 5,000 people (47%).

  2. The typical home in Lafayette is worth $172,800, 28% less than in Tippecanoe County as a whole ($239,300).

  3. Nearby, in Crawfordsville, the typical home value is $134,000: 22% less than in Lafayette ($172,800).

  4. Nearby, in Crawfordsville, the typical rent is $857: 21% less than in Lafayette ($1,079).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Lafayette

What homes there are in Lafayette, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is the most common home in Lafayette: 57% of homes, near the figure in Tippecanoe County (59%).

Year built

The typical home in Lafayette was built in 1971, 16 years before the typical one in Tippecanoe County.

There are fewer big homes in Lafayette than in Tippecanoe County: 51% have 3 bedrooms or more, against 60%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

About 98% of owner-occupied homes in Lafayette are worth less than the FHA loan limit for Tippecanoe County ($541,287).

Monthly rent with utilities

By rent, most homes in Lafayette cost less than HUD's 2-bedroom fair market rent ($1,273): about 66%.

With a mortgage

$1,110 a month

Tippecanoe County: $1,375 a month

Without a mortgage

$437 a month

Tippecanoe County: $495 a month

Owners with a mortgage

65%

Tippecanoe County: 65%

The typical cost for an owner with a mortgage in Lafayette is $1,110 a month, less than in Tippecanoe County ($1,375); without one, $437.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Homes in Lafayette gained value more slowly than in Tippecanoe County: 51% since 2015–2019, against 56%.

Much as in Tippecanoe County, the typical rent in Lafayette rose 32% since 2015–2019.

The typical household income in Lafayette rose 16%: less than home values (+51%) and rent (+32%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureLafayetteTippecanoe CountyIndianaUnited States
Rental vacancy 4.2%5.1%5.6%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room 2.9%1.8%1.8%3.4%
People per household 2.162.282.462.53
Drive alone 80%73%76%69%
Carpool 8%7%9%9%
Public transit 2%2%1%3%
Walk or bike 2%6%2%3%
Work from home 8%11%11%15%
Other means 1%1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

Open rentals in Lafayette look like those in Tippecanoe County: the rental vacancy rate is 4.2%.

More than one person per room: that is how 2.9% of households in Lafayette live, more than in Tippecanoe County (1.8%).

On average, a household in Lafayette has 2.16 people, fewer than in Tippecanoe County (2.28).

To get to work, 80% of workers in Lafayette drive alone; in Tippecanoe County, 73%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Lafayette?

A typical home is tight for the typical income

We start with a typical home in Lafayette, worth $172,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 31% of the typical household income in Lafayette, which is $53,716 a year. For that payment to be 28% of income, a household would need to earn about $59,633 a year.

The calculator's FHA and conventional loan limits are those of all of Tippecanoe County.

Your numbers

Local data
$

Starts at the typical home value in Lafayette. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $6,048 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,391

at 7.18% · 30 years

Loan amount
$169,670
Total interest
$244,116
Paid off in
November 2056

Includes $2,918 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,253 a month

  • Tight

    $1,253 to $1,611 a month

    Your payment · 31%

  • Hard

    more than $1,611 a month

Compared with the typical household income in Lafayette ($53,716 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,391
Principal & interest$1,149
Property tax$94
Home insurance$72
FHA mortgage insurance (MIP)$76

You need at least $6,048 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Lafayette and Tippecanoe County

Lafayette is in Tippecanoe County, Indiana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Lafayette's own numbers

Typical home value
$172,800
Typical monthly rent
$1,079
Typical yearly household income
$53,716
Households that own their home
47%
Effective property tax rate
0.65%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Tippecanoe County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,273
Price change over 5 years (FHFA)
+58%
Homes in a high flood-risk zone
1.2%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Tippecanoe County.

Everything about Tippecanoe County

Buying

Buying a home in Lafayette

A typical home in Lafayette is worth $172,800: 28% below the county and 21% below Indiana. With the typical household income in Lafayette ($53,716 a year), a typical home costs 3.2 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Lafayette 3.2 years
  • Tippecanoe 3.9 years
  • Indiana 3.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Tippecanoe County

According to FHFA’s house price index, home prices in Tippecanoe County rose 102% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Tippecanoe County.

Period County Indiana U.S.
Last year (2025) +2.6% +4.3% +2.9%
5 years (2020–2025) +58% +53% +47%
10 years (2015–2025) +102% +95% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Lafayette next to Tippecanoe County, Indiana and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Lafayette $172,800
  • Tippecanoe $239,300
  • Indiana $218,200
  • United States $332,700
Typical monthly rent
  • Lafayette $1,079
  • Tippecanoe $1,124
  • Indiana $1,062
  • United States $1,413
Typical yearly household income
  • Lafayette $53,716
  • Tippecanoe $60,636
  • Indiana $71,957
  • United States $80,734
See the full table
Lafayette next to Tippecanoe County and Indiana
Measure Lafayette Tippecanoe County Indiana U.S.
Typical home value $172,800 $239,300 $218,200 $332,700
Typical monthly rent $1,079 $1,124 $1,062 $1,413
Typical yearly household income $53,716 $60,636 $71,957 $80,734
Households that own their home 47% 53% 71% 65%
Typical yearly property tax $1,117 $1,474 $1,614 $3,119
Effective property tax rate 0.65% 0.62% 0.74% 0.94%
Renters with high rent for their income 53% 59% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Tippecanoe County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Lafayette

For a typical $172,800 home in Lafayette, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Lafayette's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,391a month

    Least cash to close
    Down payment
    $6,048
    Cash to close
    $11,232
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $76

  • Conventional, 5% down $1,360a month

    Down payment
    $8,640
    Cash to close
    $13,824
    Rate
    7.18%
    Mortgage insurance
    PMI · $82

  • Conventional, 20% down, no PMI $1,102a month

    Down payment
    $34,560
    Cash to close
    $39,744
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,262a month

    Down payment
    $25,920
    Cash to close
    $31,104
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Lafayette and for Tippecanoe County.

Property tax

Effective rate in Lafayette

0.65%of the home’s value each year

$1,117 a year for the typical owner in Lafayette.

  • Lafayette 0.65%
  • Tippecanoe 0.62%
  • Indiana 0.74%

What Indiana publishes Homestead standard deduction: the amount drops each year (Indiana Department of Local Government Finance (DLGF), Form HC10)

Exemptions and deadlines in Indiana

Flood risk in Tippecanoe County

FEMA does not publish these numbers by city: they are for all of Tippecanoe County.

Homes in the high-risk zone
1.2%
632
Of those, with NFIP insurance
18%
County Indiana U.S.
Homes in the high-risk zone 1.2% 2.3% 3.5%
Of those, with NFIP insurance 18% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Lafayette

Typical rent in Lafayette is $1,079 a month: 4% below the county. In Lafayette, 53% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Tippecanoe County, by unit size. To pay the 2-bedroom one ($1,273 a month) without spending more than 30% of your income, you would need to earn $24.48 an hour working full time.

HUD fair market rent for all of Tippecanoe County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $942 $18.12 $37,680
1 bedroom $1,070 $20.58 $42,800
2 bedrooms $1,273 $24.48 $50,920
3 bedrooms $1,517 $29.17 $60,680
4 bedrooms $2,128 $40.92 $85,120

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Lafayette

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Lafayette has 4 ZIP codes with their own.

For 2 bedrooms it runs from $1,150 in 47904 to $1,320 in 47905.

2 of the 4 are above the fair market rent for Tippecanoe County ($1,273).

  • 47901 $1,160$1,380
  • 47904 $1,150$1,370
  • 47905 $1,320$1,570
  • 47909 $1,290$1,540

3 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Lafayette when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Lafayette

HUD lists 16 buildings with rents for lower incomes in Lafayette. These are the largest.

  • Romney Meadows 2905 Westchester Ln W, Lafayette 47909 326 homes, 318 low-income · For families (765) 474-2464
  • Fairington Apartments Lafayette 225 Fairington Ct, Lafayette 47905 150 low-income homes · For older adults (765) 447-4115
  • Cambridge Estates IV 2511 Malden Rd, Lafayette 47905 148 low-income homes · For families (765) 446-1200
  • Cambridge Estates II 2690 Hastings Ct, Lafayette 47905 120 low-income homes · For families (765) 447-6942
  • Fowler Apartments 407 Ferry St, Lafayette 47901 103 low-income homes · For older adults (765) 742-8105

See all 23 buildings in Tippecanoe County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Lafayette

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Tippecanoe County. The nearest ones are below; many serve by phone or online.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Lafayette

No down payment, repair or rent-help program on our list is for Lafayette or Tippecanoe County. The ones below are statewide in Indiana: they work in Lafayette the same as in the rest of the state.

Which programs do I qualify for? All programs in Indiana

  • Next Home

    Statewide in Indiana

    Indiana state agency program with down payment assistance of 2.5% or 3.5% of the price, alongside a 30-year FHA or conventional mortgage. Offered by Indiana Housing and Community Development Authority (IHCDA).

    Type not stated

    See the program Official page

  • First Step

    Statewide in Indiana

    Indiana state agency 30-year FHA or conventional mortgage for first-time buyers (or homes in designated areas), with down payment assistance as a second mortgage with no interest or payments, repaid when the first mortgage ends. Offered by Indiana Housing and Community Development Authority (IHCDA).

    Deferred

    See the program Official page

Housing counselors near Lafayette

The HUD-approved agencies closest to the center of Lafayette, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Habitat for Humanity of Greater Indianapolis

    3135 N Meridian St, Indianapolis · 55 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 2 more
    (317) 777-6084

  • Indianapolis Neighborhood Housing Partnership Homeownership Center at Glendale

    2960 N Meridian St, Indianapolis · 55 miles away

    • Pre-purchase counseling
    • Homebuyer education workshops
    (317) 610-4663

  • Indianapolis Neighborhood Housing Partnership

    2690 N Meridian St, Indianapolis · 55 miles away · Spanish

    • Budget and financial counseling
    • Budget and credit workshops
    • and 2 more
    (317) 610-4663

All counseling agencies in Indiana

Help in Spanish near Lafayette

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Lafayette

HUD’s record names them for Lafayette or Tippecanoe County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the City of Lafayette Section 8 vouchers (765) 771-1300

All housing agencies in Indiana Source: HUD

Cities

Other cities in Tippecanoe County

These cities are also in Tippecanoe County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Tippecanoe County Housing in Indiana

Nearby cities

The cities closest to Lafayette, with the typical home value.

Neighboring counties

If Tippecanoe County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Lafayette.

All guides
Two girls write and draw together at the living-room table.

Questions

Housing questions about Lafayette

Short answers with the numbers for Lafayette and all of Tippecanoe County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Lafayette?

The typical home value in Lafayette is $172,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Tippecanoe County it is $239,300.

How much does it cost to rent in Lafayette?

Typical rent in Lafayette is $1,079 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Tippecanoe County is $1,273.

What is the FHA loan limit in Lafayette?

Lafayette uses the FHA limit for all of Tippecanoe County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Lafayette?

The typical homeowner in Lafayette pays $1,117 a year, according to the U.S. Census Bureau. That is 0.65% of the home’s value; in Tippecanoe County, the rate is 0.62%.

Where can I find free help to buy or rent in Lafayette?

We found no HUD-approved counseling agencies with an office in Tippecanoe County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).