Mortgage payment estimates, closing cost breakdowns, and homebuying data for Lafayette, Indiana.
Pre-filled with Lafayette median home price and Indiana tax/insurance rates. Adjust for your property.
Estimated closing costs based on Indiana rates and fees applied to Lafayette prices.
The median home price in Lafayette is $215,000, 10% below the Indiana state median of $240,000. With a population of 70,373, Lafayette is a smaller market where home prices tend to be more accessible than in many parts of Indiana.
Property taxes in Indiana average 0.84% annually. This moderate property tax rate means a $215,000 home in Lafayette would carry roughly $151/month in property taxes. Homeowners insurance in Indiana runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Lafayette is $1,020/month. The price-to-rent ratio in Lafayette is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Lafayette offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Indiana's IHCDA Next Home program.