Rent vs buy in Lafayette, LA
In Lafayette, Louisiana, typical rent is $1,329 /mo and a typical home costs $224,537.
Renting comes out $8k ahead over 7 years
The results rely on Lafayette's typical rent and home value, plus 20% down and today's mortgage rate. The break-even point arrives in year 9.
Clearly labelled opinion, with the math shown. These are estimates, not quotes. Adjust any number and the stamp adjusts with it.
- Renting leads by
- $8k after 7 years
- Break-even point
- year 9 when owning catches up
- Actual cost of owning
- $2,017 /mo year 1, against $1,329 rent
Change my numbers
The stamp takes the typical rent and home value from Lafayette's figures. Your rent, price and number of years may change the result.
Do your figures differ from the city's?
Enter your rent, price and down payment. The stamp updates with your entries.
Is it cheaper to rent or buy in Lafayette?
Over 7 years, renting costs $8,083 less, including the money returned when you sell. For the first 8 years, renting costs less. In year 9, owning catches up.
Renting. Owning. Net cost to date, by year.
Average rent compared with mortgage payment in Lafayette
Rent and mortgage payments leave out other expenses. Here's every monthly expense during year 1 using Lafayette's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,329 | All of it, every month |
| Mortgage payment | $1,224 | $1,079 of it is interest in year 1 |
| Property tax | $109 | 0.58% of the value a year |
| Insurance | $184 | Census median for the city |
| Upkeep | $187 | 1% of the value a year |
| Owning, cash out | $1,704 | $145 of it builds equity |
| Lost return on the down payment | $365 | Each year, the cash would generate earnings at 8.3%. |
| Buying costs, spread out | $94 | 3.5% of the price over 7 years |
| True cost of owning | $2,017 | Cash out, with the equity part removed, plus the two lines listed above. |
Lafayette's verdict explained by the numbers
- Typical home valueZillow ZHVI, September 2026
- $224,537
- Typical rentZillow ZORI, September 2026
- $1,329 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Louisiana, 1995 to 2025
- 3.6% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Lafayette
- 0.58% of value
- Home insuranceCensus ACS 2020-2024, Lafayette
- $184 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What would reverse the result in Lafayette?
Each line shows where Lafayette's 7-year result changes, with everything else staying the same.
Renting comes out ahead when
- With home prices growing by under 4.1% a year, the rate we use is Louisiana's 3.6% long-run rate.
- The mortgage rate remains above 6.60%.
- A similar home rents for under $1,420 a month, compared with the typical $1,329 here.
- Before year 9, you move.
Buying comes out ahead when
- Home prices grow by more than 4.1% a year.
- You lock in a mortgage rate under 6.60%; today's rate is 7.24%.
- For the same home, your monthly rent would be more than $1,420.
- You remain there for 9 years or longer.
How Lafayette compares with the other 812 cities
| Measure | Lafayette | Median city |
|---|---|---|
| Typical home value | $224,537 | $422,451 |
| Typical rent | $1,329 /mo | $1,837 /mo |
| Price-to-rent ratio | 14.1 (#679 of 813) | 18.5 |
| Home prices, last 10 years | 1.1% a year | 6.2% a year |
| Rents, last 5 years | 2.3% a year | 4% a year |
| Property tax | 0.58% | 0.87% |
| Households that rent | 47% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Louisiana
- Toss-up. In New Orleans, LA, renting leads by $1k.
- Rent. In Baton Rouge, LA, renting leads by $10k.
- Buy. In Shreveport, LA, buying leads by $21k.
- Buy. In Lake Charles, LA, buying leads by $6k.
- Toss-up. In Kenner, LA, renting leads by $4k.
- Buy. In Bossier City, LA, buying leads by $15k.