The average monthly rent of apartments in Lafayette, LA is $1,079.
The average monthly rent of apartments in Lafayette, LA is $1,079.
About 36% of apartment rents in Lafayette, LA range between $1,001-$1,500. Meanwhile, apartments priced over $1,501-$2,000 represent 13% of apartments. Around 44% of Lafayette’s apartments are in the $701-$1,000 price range. 6% of apartments are priced between $501-$700.
Compared to the national average rent of $1,727, the average rent in Lafayette, LA is $1,079.
Prices and availability in Lafayette, LA were last updated on 31 Jan 2023.
The average rent in Lafayette, LA is $1,079. Start your search for apartments in Lafayette, LA now.
The price range for a 1-bedroom apartment in Lafayette, LA is between $520 and $2,310. Browse all available 1-bedroom apartments in Lafayette, LA now.
The price range for a 2-bedroom apartment in Lafayette, LA is between $550 and $2,770. Browse and find a 2-bedroom apartment in Lafayette, LA.
The price range for a 3-bedroom apartment in Lafayette, LA is between $775 and $3,039. Browse all available 3-bedroom apartments in Lafayette, LA.
In Lafayette, 42% of the residents are renting compared to 58% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 7% of Lafayette’s rentals, 57% are small-scale complexes with under 50 units, and 33% are single-family rentals.
The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Lafayette are about 34 years old, on average. Of these, 31% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 2 stories. About 99% of the rental communities here are low-rise, garden-style communities, 0.6% are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.
Studio apartments in Lafayette are around 2% of rentals, while 1-bedroom floor plans represent 38% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 49% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.
Lafayette is the most populous city of Lafayette Parish, located along the Vermilion River in Louisiana. It's considered one of the best places to live and rent in Louisiana, famous for its southern hospitality, local cuisine, and musical venues. Renting professionals, families, and students are drawn by the city's growing economy, high-ranking universities, and relatively low cost of living. The weather in Lafayette is warm, with a humid subtropical climate that brings average temperatures between 52°F and 83.5°F throughout the year. Renters relocating from colder areas will appreciate the hot summers and mild, damp winters, although they should be wary of hurricane season. The warm weather and proximity to lakes, ponds, swamps, and bayous make Lafayette the ideal spot for boating, fishing, and kayaking for renters of all ages.
While most people living in Lafayette are homeowners, various styles of renter households are also available: historic homes, single-family mansions, and apartments located in the central or rural parts of town. Bendel Gardens and Freetown are suburban traditional neighborhoods with mid-century homes, but renters can find affordable apartments in neighborhoods like Suburban Acres and University Area. There are also several Traditional Neighborhood Developments (TNDs) in Lafayette: Olde Towne at Millcreek, Sugar Mill Pond, River Ranch, and Couret Farms. These planned communities have upscale residential homes and rental apartments within walking distance of all lifestyle amenities. Renters in Lafayette have the right to a habitable rental unit but are responsible for paying rent on time. The landlord may withhold a security and pet deposit to offset any damage during the rental period, while renters insurance is not mandatory. In case of lease agreement’s termination, both the renter and landlord should provide timely written notice.
Lafayette, LA has a population of 126,674 according to the most recent data from the U.S. Census Bureau. 65,685 of Lafayette’s residents are women and 60,989 are men. The median age of those who live in Lafayette, LA is 36.4.
Lafayette is home to the enclosed regional Acadia Mall anchored by Dillard's, JCPenney, and Macy's. Here, renters can shop in stores like Claire's, Victoria's Secret, J.Jill, H&M, Pandora, Talbots, and Maurices. Other shopping venues in Lafayette are On The Boulevard Shopping Center, South College Shopping Center, and Northgate Mall. In addition, renters have plenty of local shopping and dining opportunities in the downtown area. Stores like Walmart, Costco, Target, Dillard's, Albertsons, Whole Foods Market, and Natural Grocers are scattered throughout the city, so renters will always be near grocery or home goods stores.
According to U.S. Census data, there are 50,252 households in Lafayette, LA. 29,550 are family households and 20,702 are non-family households. There are 12,641 households with children in Lafayette and 37,611 households without children. On average, about 2.43 people live in a household in Lafayette, LA.
Lafayette Transit System (LTS) and CityBus offer a limited bus transportation network with limited operation time and coverage, so renters rely heavily on their cars to accomplish most errands. Interstates 10 and 49 and U.S. highways 90 and 167 are the main thoroughfares in the area, although traffic congestion is common during rush hour. For an eco-friendly commute, renters can use the numerous bike paths and lanes, although the narrow historic streets can be challenging to traverse by bike. Uber and Lyft provide ridesharing services, and Greyhound is the primary intercity transport provider. For air travel, renters and visitors go through Lafayette Regional Airport, which is conveniently located 2.5 miles away from the city core. Amtrak Sunset Limited offers passenger rail services with selected stops in Louisiana and other states. Lafayette Regional Airport, located on the southeast side of the city, offers daily passenger flights to multiple U.S. cities.
The level of education of the population of Lafayette, LA is as follows: 3% have no high school education, 34% completed some high school, 23% partially completed college, 4% have an Associate Degree, 25% have a Bachelor Degree, and 12% have a Graduate Degree.
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