1031 Exchange Lafayette, Louisiana

 

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, Louisiana is a part of the Lafayette, LA metropolitan area, and contains 12 zip codes, including: 70503, 70506, 70507, 70504, 70502, and 70593.

Lafayette Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Lafayette, LA metropolitan area was $882, which is 5.63% lower than 2014 average rent. This represents a compounded annual growth rate of 1.10%. 2019 vacancy in Lafayette, LA was 4.50%.

The total population of the city of Lafayette, LA has grown 4.58% since 2010. As of 2018, the population was 126,143. The median household income of the Lafayette was $50,182, which is 16.77% lower than the national average.

  • metropolitan area Lafayette, LA
  • avg rent $882
  • rent growth 5.63%
  • vacancy 4.50%
  • median income $50,182
  • population (2018) 126,143
  • population growth 4.58%
  • vs. nat'l avg 16.77%
  • zip codes 70501 70502 70503 70504 70505 70506 70507 70508 70509 70593 70596 70598

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