The Most Affordable Neighborhoods in Lafayette, KY by Home Value

These days, finding an affordable place to live in the Lafayette area can be challenging. Home prices in Lafayette are now at a median cost of $155,000, lower than the Kentucky average of $219,615.

The average cost of rent is $1,102/mo in Lafayette, primarily driven by the current value of real estate in the Lafayette area. In Lafayette, 24.95% of households rent, and 37.25% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Lafayette is $5,788 per month. Households that rent pay about 19.04% of their income on rent here. Lafayette’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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