Department of Numbers

Lafayette, Louisiana Home Affordability

The data below measures home affordability for the Lafayette, Louisiana 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, Louisiana 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, Louisiana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 101.1
September 2011 99.3
June 2011 98.5
March 2011 98.9
December 2010 101.6
September 2010 101.9
June 2010 100.3
March 2010 100.5
December 2009 100.7

Lafayette, Louisiana 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, Louisiana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 87.1
September 2011 85.6
June 2011 84.8
March 2011 85.2
December 2010 87.6
September 2010 87.8
June 2010 86.4
March 2010 86.6
December 2009 81.6

Lafayette, Louisiana Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Lafayette, Louisiana 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, Louisiana Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $247,084
December 2011 $245,889
November 2011 $244,998
October 2011 $242,647
September 2011 $241,484
August 2011 $236,913
July 2011 $229,221
June 2011 $230,297
May 2011 $226,828
April 2011 $221,643
March 2011 $221,643
February 2011 $218,867
January 2011 $223,695

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data. ↩

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