Metropolitan Statistical Area (MSA):

Lafayette, LA

Lafayette, LA is a Metropolitan Statistical Area (MSA) comprising counties including .

The Lafayette, LA Housing Market: Real Estate Trends to Watch

Lafayette, LA is a city located in the southern United States. The city is known for its Cajun and Creole cuisine, as well as its music and culture. The city is also a hub for the oil and gas industry. In recent years, Lafayette has become a popular destination for retirees. The city has a low cost of living and a moderate climate.

The Lafayette housing market is strong. The median home price in Lafayette is $184,900, which is higher than the national median home price of $172,200. However, the cost of living in Lafayette is lower than the national average. The median rent price in Lafayette is $850 per month, which is lower than the national median rent price of $1,040 per month.

There are several factors that contribute to the strength of the Lafayette housing market. One factor is job growth. Between 2010 and 2018, Lafayette added 11,700 jobs. This job growth has led to an increase in population and a decrease in unemployment. Another factor that contributes to the strength of the Lafayette housing market is low interest rates. Interest rates on mortgages are currently at historic lows, making it an affordable time to buy a home in Lafayette.

The future looks bright for the Lafayette housing market. Job growth is expected to continue in 2019 and 2020 due to expansions in the oil and gas industry as well as new businesses moving into town such as Amazon fulfillment center opening soon outside of town.. Additionally, developers are planning to build new subdivisions with single-family homes and apartments that will meet demand from both young families and retirees who are looking to move to Lafayetee

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