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Cost of Living in Lafayette

Is it better to rent or buy in Lafayette? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$67,554
$976/mo

Median in area: $976

$213,076

Median in area: $213,076

$42,615

If you Rent

🔑
$1,159 /mo
Base Rent$976
Est. Utilities$183
% of Income20.6%
Pre-tax Residual$4,471

If you Buy

🏠
$1,514 /mo
P&I (6.5%)$1,077
Taxes & Ins$254
Est. Utilities$183
% of Income26.9%
Pre-tax Residual$4,115

Cost of Living FAQs

Is it cheaper to rent or buy in Lafayette?›

Based on median housing data, renting is currently more affordable on a monthly basis in Lafayette. The estimated all-in monthly cost for renting is $1,159, while owning a median-priced home with a 20% down payment is roughly $1,514 per month (a difference of $355).

How much do utilities cost in Lafayette?›

The average monthly utility cost (electricity and natural gas) for a typical home in Lafayette is approximately $183. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Lafayette?›

To comfortably afford the median rent and utilities in Lafayette without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $46,360 per year.