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Cost of Living in Lafayette Parish

Is it better to rent or buy in Lafayette Parish? 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.

$74,158
$1,075/mo

Median in area: $1,075

$246,276

Median in area: $246,276

$49,255

If you Rent

🔑
$1,250 /mo
Base Rent$1,075
Est. Utilities$175
% of Income20.2%
Pre-tax Residual$4,930

If you Buy

🏠
$1,799 /mo
P&I (7.113%)$1,326
Taxes & Ins$298
Est. Utilities$175
% of Income29.1%
Pre-tax Residual$4,381

Compare Nearby Areas

See how Lafayette Parish stacks up against neighboring areas.

countyIberia Parish, LA
$968/mo
countySt. Landry Parish, LA
$849/mo
countyAcadia Parish, LA
$733/mo
countyVermilion Parish, LA
$856/mo
countySt. Martin Parish, LA
$887/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Lafayette Parish?›

Based on median housing data, renting is currently more affordable on a monthly basis in Lafayette Parish. The estimated all-in monthly cost for renting is $1,250, while owning a median-priced home with a 20% down payment is roughly $1,799 per month (a difference of $549).

How much do utilities cost in Lafayette Parish?›

The average monthly utility cost (electricity and natural gas) for a typical home in Lafayette Parish is approximately $175. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in Lafayette Parish without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $50,000 per year.