How much do households in the Lafayette, IN area spend on rent?
Refreshed annually
About $1,107, or 35.8% of their income, in 2020–2024. This is measured by comparing median, or average, rent and median monthly income for renting households.
$1.11K
median monthly rent in Lafayette, IN area (2020–2024)
35.8%
average share of income spent on rent in Lafayette, IN area (2020–2024)
Comparing rent to renter income provides one measure of rental affordability. The Lafayette, IN area (Lafayette-West Lafayette, IN Metro Area)’s median rent was about $1,107 per month in 2020–2024. Typical monthly income among renting households was about $3,091 per month during that same period.
A typical household spent about $1,107 on rent in the Lafayette, IN area.
Median gross rent and median renter household income, 2020–2024
Dividing rent by income provides what is called a rent-to-income ratio. A higher ratio of rent-to-income indicates rent is less affordable while a lower ratio indicates greater affordability.
The Department of Housing and Urban Development considers households with a rent-to-income ratio of more than 30%, that is, households that spend more than 30% their income on housing, to be cost-burdened. Cost-burdened households may have less money for other necessities such as food, healthcare, or savings. When median monthly rent is more than 30% of median monthly income, it means a typical household would meet the definition of housing cost-burdened.
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Do households in the Lafayette, IN area spend more or less on rent than other Indiana metros?
The Lafayette, IN area’s rent-to-income ratio ranked 2 out of 14 Indiana metros.
Ratio of median gross rent to median renter household income, 2020–2024
Compared to other metro areas in the state, the Lafayette, IN area had the sixth highest median rent and fifth lowest median renter-household income. (Metro areas are made up of economically interconnected counties that include at least one urban area. A single metro area can include multiple cities and cross state lines.) Out of the 14 metros in the state, the Lafayette, IN area’s rent-to-income ratio ranked second highest.
Do households in the Lafayette, IN area spend more or less on rent than other small metros?
The small metro median rent-to-income ratio was 30.4%.
Ratio of median gross rent to median renter household income, 2020–2024
The Lafayette, IN area is a small metro, which has less than 250,000 people. Compared to other small metros, the Lafayette, IN area’s rent-to income ratio is higher than is typical. The average among small metros was 30.4% in 2020–2024, 5 percentage points lower than in the Lafayette, IN area.
Renter income and rent, small metro areas (2020–2024)
| 1. | $6,816 | |
| 2. | $5,927 | |
| 3. | $5,861 | |
| 4. | $5,728 | |
| 5. | $5,337 | |
| 6. | $5,027 | |
| 7. | $4,909 | |
| 8. | $4,881 | |
| 9. | $4,850 | |
| 10. | $4,785 |
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
