Lafayette, IN home values, income, and owner costs

Start with the dated local finding: In Lafayette, IN, the 2024 ACS reports a median owner-occupied home value of $172,800, median household income of $53,716, and median selected monthly owner costs of $1,110 for owners with a mortgage. Together, those three reference points may help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $1,110 measure combines recurring ownership expenses rather than real estate taxes alone. For borrower planning, a useful affordability review starts with $172,800, $53,716, and $1,110, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.

Lafayette, IN's $172,800 median home-value estimate is below the statewide $218,200 estimate, with a reported city-to-state gap of 20.8%. That 20.8% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Lafayette, IN. It does not mean every local property is 20.8% away from a comparable property elsewhere in the state, because the medians reflect different housing mixes and geographies. For borrower planning, a borrower can use $172,800 and $218,200 to decide which assumptions need local replacement first, then compare actual properties and current financing disclosures on the same basis.