Louisiana · Population 121,537 · Updated March 2026
How far your income goes in Lafayette
State-level tax rates that affect your costs
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.
Common questions about living costs in Lafayette
Similar-sized cities to compare
Compare the cost of living in Lafayette, LA with 299 other major U.S. cities