Lafayette, Indiana Home Affordability

The data below measures home affordability for the Lafayette, Indiana metropolitan area using price-to-income and price-to-rent metrics.¹ The maximum affordable loan amount for the median household income is also calculated. You can also compare Lafayette home affordability to other cities.

Lafayette, Indiana Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Lafayette HPI series. Median household income data for Lafayette is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lafayette, Indiana Home Price-to-Income Ratio History

Date	FHFA (Index Ratio)
September 2011	107.3
June 2011	105.0
March 2011	105.3
December 2010	109.0
September 2010	107.8
June 2010	107.4
March 2010	107.5
December 2009	105.5
September 2009	106.0

Lafayette, Indiana Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Lafayette median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lafayette, Indiana Home Price-to-Rent Ratio History

Date	FHFA (Index Ratio)
September 2011	90.6
June 2011	88.7
March 2011	88.9
December 2010	92.0
September 2010	91.0
June 2010	90.7
March 2010	90.7
December 2009	92.8
September 2009	93.2

Lafayette, Indiana Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Lafayette, Indiana and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Lafayette, Indiana Inferred Affordable Mortgage History

Date	Inferred Mortgage
November 2011	$212,739
October 2011	$210,697
September 2011	$209,687
August 2011	$205,719
July 2011	$199,039
June 2011	$199,973
May 2011	$196,961
April 2011	$192,459
March 2011	$192,459
February 2011	$190,049
January 2011	$194,241
December 2010	$195,367
November 2010	$204,987