Department of Numbers

This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

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 2013 104.5
September 2013 104.6
June 2013 103.4
March 2013 102.3
December 2012 102.3
September 2012 102.8
June 2012 100.8
March 2012 100.3

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 2013 82.8
September 2013 82.9
June 2013 81.9
March 2013 81.1
December 2012 81.1
September 2012 81.5
June 2012 79.9
March 2012 79.5

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
February 2014 $236,490
January 2014 $232,884
December 2013 $232,063
November 2013 $237,617
October 2013 $239,607
September 2013 $231,247
August 2013 $232,063
July 2013 $234,538
June 2013 $243,078
May 2013 $259,334
April 2013 $262,252
March 2013 $258,371
February 2013 $259,656

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.