CALCMONEY // HOME AFFORDABILITY // LA // LAFAYETTE
How much house can you afford in Lafayette? Based on local median home prices, current LA mortgage rates, and Lafayette property tax data.
$210,000
$1,280/mo
$54,860/yr
$210,616
Monthly housing costs of $1,280 represent 27.9% of Lafayette's median gross monthly income ($4,583/mo). At 27.9%, Lafayette falls within the standard 28% affordability threshold at current median income levels.
| Median Home Price | $210,000 |
| Down Payment (20%) | $42,000 |
| Loan Amount | $168,000 |
| Monthly PI Payment | $1,112 |
| Monthly Property Tax | $81 |
| Monthly Insurance Est. | $88 |
| Total Monthly PITI | $1,280 |
| Housing Cost % of Income | 27.9% |
| Required Income (28% rule) | $54,860/yr |
| Max Affordable Home | $210,616 |
$7,350
$1,653/mo
Lafayette Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $210,000 | Lafayette city median |
| Down Payment (20%) | $42,000 | Conventional loan |
| Monthly PITI | $1,280 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $54,860 | Annual gross |
| Max Affordable Home | $210,616 | Based on median income |
| FHA Down (3.5%) | $7,350 | Minimum FHA |
| Housing Cost % of Income | 27.9% | Median income: $55,000/yr |
| Property Tax Rate | 0.46% | $966/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Lafayette is $210,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $168,000, generating a monthly P&I payment of $1,112. Adding property taxes ($81/mo) and homeowners insurance ($88/mo) brings total monthly PITI to $1,280.
Lafayette's property tax rate of 0.46% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Lafayette median home, that is $81/month, or $966 per year.
Louisiana levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Lafayette should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Lafayette's median income of $55,000/year can afford up to $1,283/month in total housing costs. Based on Lafayette's mortgage rate of 6.95% and property tax rate of 0.46%, that translates to a maximum affordable home price of approximately $210,616 with 20% down on a 30-year loan.
To afford the median Lafayette home priced at $210,000, you need an annual gross income of approximately $54,860. Total monthly housing costs (principal and interest of $1,112, property taxes of $81, and insurance of $88) come to $1,280/month, which equals 28% of the required income.
At the median home price of $210,000 and median household income of $55,000, the total monthly housing cost of $1,280 represents 27.9% of gross monthly income. This is within the standard 28% guideline, making Lafayette relatively accessible at current income levels.
A conventional 20% down payment on the median Lafayette home of $210,000 is $42,000. An FHA loan requires just 3.5% down — $7,350 — but adds mortgage insurance of roughly $144/month, bringing total FHA payments to $1,653/month.
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