The typical home in Lafayette, IN is worth about $235,000.
With 20% down that's a loan near $188,000 — the calculator
is pre-filled with that figure. Purdue University anchors West Lafayette across the Wabash River, and Subaru of Indiana Automotive's plant — the company's only U.S. assembly factory — has pulled in enough suppliers to make Greater Lafayette one of the state's fastest-growing metros.
$1,220.61 / month
Total interest
$251,425
Total paid
$439,425
Payoff
30.0 years
How much you need to earn
Lafayette, IN's median household income is about
$66,000 a year. Under standard 28/36
lending rules that supports a home price around
$238,320 with 20% down —
comfortably above the $235,000 typical price.
Typical asking rent in Lafayette, IN is about $1,100 a month, so owning the median home costs roughly
$418 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Lafayette, IN?
On the metro's roughly $235,000 typical home with 20% down, the loan is about $188,000. Principal and interest run near $1,221 a month at today's rate, and Lafayette, IN's property tax plus insurance add about $298, for a full payment near $1,518.
Can I afford a home in Lafayette, IN on the median income?
The median household income is about $66,000 a year. Under standard 28/36 lending rules that supports a home price around $238,320 with 20% down — above the $235,000 typical price, so a median home is within reach.
Is it cheaper to rent or buy in Lafayette, IN?
Typical asking rent is about $1,100 a month. The full owner payment on a median home is near $1,518, so owning costs roughly $418 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Lafayette, IN?
The effective property tax rate in the core county is about 0.84% of market value — roughly $1,974 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Lafayette, IN rising or falling?
Home values are up about 4% over the past year. Purdue University anchors West Lafayette across the Wabash River, and Subaru of Indiana Automotive's plant — the company's only U.S. assembly factory — has pulled in enough suppliers to make Greater Lafayette one of the state's fastest-growing metros.