Rent, population, and median household income are important factors to consider for a 1031 exchange in Lafayette due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Lafayette, Indiana is a part of the Lafayette-West Lafayette, IN metropolitan area, and contains 6 zip codes: 47901, 47902, 47904, 47909, 47903, and 47905.
Lafayette Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lafayette, IN metropolitan area was $898, which is 18.78% lower than 2014 average rent. This represents a compounded annual growth rate of 3.50%. 2019 vacancy in Lafayette, IN was 3.10%.
The total population of the city of Lafayette, IN has grown 7.49% since 2010. As of 2018, the population was 72,168. The median household income of the Lafayette was $45,639, which is 24.30% lower than the national average.
- metropolitan area Lafayette-West Lafayette, IN
- avg rent $898
- rent growth 18.78%
- vacancy 3.10%
- median income $45,639
- population (2018) 72,168
- population growth 7.49%
- vs. nat'l avg 24.30%
- zip codes 47901 47902 47903 47904 47905 47909