Cost of Living in Lafayette, LA 2026

Affordability

How far your income goes in Lafayette

20.8%

Rent-to-Income Ratio

Affordable

Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Louisiana

State-level tax rates that affect your costs

4.25%

Income Tax (Top Rate)

4.45%

Sales Tax

0.55%

Property Tax Rate

Estimated Annual Costs

$12,780

Annual Rent

$2,612

State Income Tax

$1,382

Property Tax (est.)

Cost of Living Overview

Lafayette is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 77 (where 100 equals the national median), Lafayette residents can expect to pay median rent of $1,065/month while earning a median household income of $61,454/year.

The median home value in Lafayette, LA is $251,300, with typical monthly owner costs around $1,057 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.8% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Louisiana has a moderate income tax rate of 4.25%. Combined with a 4.45% sales tax rate and 0.55% effective property tax rate, the overall tax environment is a factor in the total cost of living in Lafayette.

Frequently Asked Questions

Common questions about living costs in Lafayette

What is the cost of living in Lafayette, LA?

The cost of living index in Lafayette, LA is 77 (US average = 100). Median monthly rent is $1,065, median household income is $61,454/year, and the median home value is $251,300.

Is Lafayette, LA affordable?

Yes, Lafayette is more affordable than the national average with a cost index of 77. The rent-to-income ratio is 20.8%—below the 30%% threshold considered affordable by HUD.

What is the average rent in Lafayette, LA?

The median gross rent in Lafayette, LA is $1,065 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,780.

What is the median household income in Lafayette?

The median household income in Lafayette, LA is $61,454 per year. This compares to the national median of approximately $80,000.

What are the taxes like in Louisiana?

Louisiana has a top income tax rate of 4.25%, a sales tax of 4.45%, and an effective property tax rate of 0.55%.

Lafayette, LA

Affordability

Tax Burden in Louisiana

Estimated Annual Costs

Cost of Living Overview

Frequently Asked Questions

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