The typical owner-occupied home in Lafayette is worth about $417,100, 13% below the Oregon median of $477,600 and 25% above the national median of $332,700. Owners pay a median $2,884 a year in property taxes, about 0.69% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $97,771 a year, so the median home costs 4.3 times the median income (5.8 times for Oregon). 87% of occupied homes here are lived in by their owners, and 76% of those owners still have a mortgage.
Lafayette at a glance
| Lafayette | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $417,100 | $477,600 | $332,700 |
| Median property tax paid per year | $2,884 | $3,876 | $3,119 |
| Property tax as a share of value | 0.69% | 0.81% | 0.94% |
| Median household income | $97,771 | $83,011 | $80,734 |
| Homes lived in by their owners | 87% | 63% | 65% |
| Owner homes with a mortgage | 76% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,749 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 23.4% | 22.4% | 21.0% |
| Median rent | $1,181 | $1,525 | $1,413 |
| Rent as a share of renters' income | 36.0% | 31.3% | 30.6% |
| Median year homes were built | 2000 | 1981 | 1980 |
| Vacant homes | 0.0% | 7.5% | 10.1% |
| Population | 4,490 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Lafayette
At this week's average 30-year rate of 7.11%, buying the median Lafayette home of $417,100 with 20% down costs about $2,658 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,353, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $113,928 for the 20%-down payment. That payment is 33% of the median Lafayette household income of $97,771; at that income and 20% down, the 28% guideline points to a home of about $358,000.
The median rent here is $1,181 a month, so owning the median home costs about $1,477 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $83,420 |
|---|---|
| Loan amount | $333,680 |
| Principal and interest | $2,245 |
| Property taxes (0.69% a year) | $240 |
| Homeowners insurance (our estimate, 0.5% a year) | $174 |
| PMI | $0 |
| Total per month | $2,658 |
Change the numbers in the calculator
| Down payment | $14,598 |
|---|---|
| Loan amount | $409,545 |
| Principal and interest | $2,755 |
| Property taxes (0.69% a year) | $240 |
| Homeowners insurance (our estimate, 0.5% a year) | $174 |
| FHA mortgage insurance | $184 |
| Total per month | $3,353 |
Change the numbers in the calculator
Questions about home buying in Lafayette
What is the median home value in Lafayette?
About $417,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lafayette?
Homeowners pay a median $2,884 a year, which is about 0.69% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Lafayette?
For the median home with 20% down at 7.11%, the payment is about $2,658 a month. Keeping that under 28% of gross income takes about $113,928 a year.
More about Lafayette
- Mortgage Refinance in Lafayette
- Debt Relief in Lafayette
- Home Equity Loans in Lafayette
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data