Lafayette, IN Cost Of Living
Cost Of Living In Lafayette, IN Summary
Cost of living in Lafayette research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lafayette is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lafayette is 88, with 100 being the average.
The cost of living index in Lafayette is 0.9x lower than the national average.
Lafayette ranks as the #62 cheapest in Indiana out of 124.
Lafayette ranks as the #1,278 cheapest out of 6,412 in the US.
The median home value in Lafayette is $126,100.
The median income in Lafayette is $47,690.
Table Of Contents
Lafayette's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Lafayette, IN?
According to the most recent data on the cost of living, Lafayette has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.
Compared to Indiana, Lafayette has a cost of living index that's 1.0x lower than Indiana's index of 91.
The standard of living in Lafayette ranks as #62 most affordable out of the 124 places we measured in Indiana. By definition, that implies Lafayette ranks as the #62 most expensive place in the Hoosier State.
For more reading on life in Lafayette, check out:
- Living In Lafayette
- Lafayette Crime Report
- Search Homes For Sale In Lafayette, IN
In Indiana
In America
Lafayette Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in Lafayette. Here is how it fairs on each of the criteria:
The Services index in Lafayette is 99.
The Groceries index in Lafayette is 96.
The Health index in Lafayette is 85.
The Housing index in Lafayette is 65.
The Transportation index in Lafayette is 100.
The Utilities index in Lafayette is 97.
| Living Expense | Lafayette | Indiana | National Average | |
|---|---|---|---|---|
| Overall | 88 | 91 | 100 | |
| Services | 99 | 94 | 100 | |
| Groceries | 96 | 96 | 100 | |
| Health | 85 | 101 | 100 | |
| Housing | 65 | 77 | 100 | |
| Transportation | 100 | 95 | 100 | |
| Utilities | 97 | 106 | 100 | |
Lafayette, IN Housing Cost Breakdown
Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Lafayette is $126,100.
The Median Rent in Lafayette is $905.
The Median Income in Lafayette is $47,690.
The Home Value To Income in Lafayette is 2.6x.
The Rent To Monthly Income in Lafayette is 0.23x.
| Statistic | Lafayette | Indiana | United States |
|---|---|---|---|
| Median Home Value | $126,100 | $158,500 | $244,900 |
| Median Rent | $905 | $891 | $1,163 |
| Median Income | $47,690 | $61,944 | $69,021 |
| Home Value To Income | 2.6x | 2.6x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Lafayette, IN Costs By Category
Detailed Lafayette Services Costs Vs. Indiana
Detailed Lafayette Groceries Costs Vs. Indiana
Detailed Lafayette Health Costs Vs. Indiana
Detailed Lafayette Transportation Costs Vs. Indiana
Detailed Lafayette Utilities Costs Vs. Indiana
Lafayette SnackAbility
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Cost Of Living In Cities Around Lafayette
The cost of living varies in the cities and towns around Lafayette. Here's a quick look at the cost of living in the most populous nearby places:
Carmel, IN has a cost of living index of 114, 1.3x Lafayette.
Westfield, IN has a cost of living index of 103, 1.2x Lafayette.
West Lafayette, IN has a cost of living index of 99, 1.1x Lafayette.
| City | Population | Cost Of Living | Vs. Lafayette |
|---|---|---|---|
| Carmel, IN | 98,137 | 114 | 1.3x |
| Westfield, IN | 45,695 | 103 | 1.2x |
| West Lafayette, IN | 44,515 | 99 | 1.1x |
| Zionsville, IN | 30,258 | 118 | 1.3x |
| Brownsburg, IN | 28,420 | 95 | 1.1x |
| Crawfordsville, IN | 16,279 | 86 | 1.0x |
| Frankfort, IN | 16,134 | 85 | 1.0x |
| Danville, IN | 10,424 | 92 | 1.0x |
| Monticello, IN | 5,508 | 85 | 1.0x |
