Lafayette Parish Real Estate and Livability Trends
Real estate in Lafayette Parish, Louisiana, may benefit from a significant decrease in property crimes over the past five years, with larceny-theft dropping from 1,624 cases in 2018 to just 137 by 2022, and burglary falling from 454 to 56 cases in the same period. This positive trend could attract more investors and residents, potentially boosting property values. However, fluctuations in crimes... Read more
Lafayette Parish Market Trends
Lafayette Parish, Louisiana, has shown consistent growth in median home values, reaching $222,400 in 2022, notably higher than both state and national medians. This makes it an attractive market for investors and homebuyers looking for appreciating property values. Fluctuating residential energy tax credits, peaking at $1960.87 in 2018, suggest occasional strong incentives for energy-efficient... Read more
Median Value of Occupied Housing Units in Lafayette Parish, Louisiana Over the Last 8 Years
The median home values in Lafayette Parish, Louisiana over the past eight years have shown consistent growth, reaching $222,400 in 2022, significantly higher than both the state and national medians of $198,300 and $179,400, respectively. This upward trend may indicate a robust local housing market that could be attractive for potential investors and homebuyers seeking properties with appreciating values. Compared to Louisiana's statewide steady increase and the national climb in home values, Lafayette Parish's performance suggests it might be an appealing area for those looking to build or invest in real estate.
Residential Energy Tax Credit Per Tax Return in Lafayette Parish, LA Over the Last 9 Years
Lafayette Parish, Louisiana has seen fluctuating residential energy tax credits per return over the past nine years, with notable peaks in 2015 at $979.44 and an exceptionally high $1960.87 in 2018. These trends might reflect varying levels of investment in energy-efficient upgrades or changes in state and federal incentives. The data is essential for investors and homeowners considering energy-efficient improvements, as it might suggest potential for significant tax savings.
Average Real Estate Taxes Per Tax Return in Lafayette Parish, LA Over the Last 10 Years
Real estate taxes per tax return in Lafayette Parish, Louisiana have seen a substantial upward trend over the past decade, rising from approximately $1,925.57 in 2012 to around $3,934.98 by 2021. This notable increase, particularly the sharp jump between 2017 and 2018, could signal economic growth and rising property values, which might be appealing to real estate investors and appraisers. For prospective buyers and current property owners, this trend suggests an increasingly significant fiscal responsibility.
Percentage of Farm Returns in Lafayette Parish, LA Over the Last 10 Years
Lafayette Parish, Louisiana has seen some fluctuations in the percentage of farm tax returns over the last decade, with a gradual decline from around 0.96% in 2012 to approximately 0.77% in 2021. Farm tax returns represent the reporting of income from agricultural activities, including livestock, crops, and other related revenues. This trend might suggest a decreasing role for agriculture in the local economy, which could impact investment decisions and development opportunities. Individuals interested in the region should consider how this shift might influence property values and the local business landscape.
Number of Mortgages by Occupancy Type in Lafayette Parish, LA Over the Last 5 Years in Lafayette Parish
Lafayette Parish, Louisiana, has exhibited noticeable shifts in mortgage trends across different occupancy types over the past five years. The number of mortgages for principal residences consistently leads, reaching a peak in 2021 with over 16,000. Investment property mortgages showed slight fluctuations but generally trended higher in years with robust housing markets. Second residences represent a smaller, more stable portion of the market, with minimal changes year-over-year. These shifts highlight the evolving demands for housing types, signaling potential growth areas for investors, developers, and real estate agents. Understanding these dynamics can also aid appraisers and insurance agents in assessing risk factors and property values accurately.
Economic Outlook
Lafayette Parish, Louisiana has experienced notable fluctuations in average taxable incomes, state and local income taxes, and total tax liabilities over the past decade. For instance, taxable income saw a jump to $82,196.06 in 2021 from $64,397.11 in 2020, reflecting variable economic conditions. Meanwhile, average state and local income taxes rose significantly from $6,592.40 in 2015 to $12,419.58 in 2021, possibly indicating changes in economic activity or tax policies. Total tax liabilities... Read more
Average Taxable Income per Tax Return in Lafayette Parish, LA over the last 9 years
Lafayette Parish, Louisiana has seen fluctuating average taxable income per tax return over the past nine years, with notable highs and lows. The year 2021 stands out with an increase to $82,196.06, a significant jump from previous years like 2020, when the average was $64,397.11. However, the period between 2013 and 2017 shows a more gradual rise and fall, peaking at $74,193.33 in 2014 before a drop to $66,526.37 in 2016. This data suggests variable economic conditions, which might interest investors for identifying trends or planning financial strategies.
Average State and Local Income Taxes Per Tax Return in Lafayette Parish, LA Over the Last 10 Years
Lafayette Parish, Louisiana has seen a fluctuation in average state and local income taxes over the past decade. Notably, there was a sharp increase from $6,592.40 in 2015 to $12,419.58 in 2021. This trend might suggest growing economic activity or changes in tax policy. Potential investors and residents should consider these factors when evaluating the area's financial landscape.
Average Total Tax Liability Per Tax Return in Lafayette Parish, LA Over the Last 10 Years
Lafayette Parish, Louisiana has seen interesting fluctuations in average total tax liability per tax return over the past decade. There was a notable high point in 2014 with an average of $16,043.58, followed by a significant dip in 2015 to $13,365.43. The downward trend largely continued until 2020, showing a substantial low at $11,757.97. However, 2021 saw a remarkable rebound with an average of $16,078.66, surpassing previous highs. This volatility could signify underlying economic shifts or policy changes impacting residents and investors alike.
Cost of Living in Lafayette Parish
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,323 | $1,564 | $2,309 | $1,233 | $1,410 |
| 1 adult 4 children | $1,323 | $1,278 | $1,769 | $1,233 | $1,554 |
| 2 adults 3 children | $1,323 | $1,278 | $2,002 | $1,233 | $1,151 |
| 1 adult 3 children | $1,323 | $1,043 | $1,462 | $1,233 | $1,271 |
| 2 adults 2 children | $1,008 | $1,046 | $1,695 | $1,068 | $932 |
| 1 adult 2 children | $1,008 | $781 | $1,155 | $1,068 | $922 |
| 2 adults 1 child | $1,008 | $827 | $1,388 | $534 | $841 |
| 1 adult 1 child | $1,008 | $534 | $847 | $534 | $692 |
| 2 adults | $893 | $664 | $1,081 | $0 | $711 |
| 1 adult | $674 | $362 | $540 | $0 | $542 |
Safety trends & Data
Lafayette Parish, Louisiana, seems to have seen a notable decrease in property crimes over the past five years, with larceny-theft cases dropping from 1,624 in 2018 to just 137 by 2022. Burglary rates have similarly declined, from 454 cases in 2018 to 56 in 2022. This decline could make the area more attractive to investors, residents, and real estate professionals. However, variable patterns in crimes like vandalism and motor vehicle theft suggest that caution is still warranted, as these... Read more
Property Crime Trends in Lafayette Parish, LA Over the Last 5 Years
Property crime in Lafayette Parish, Louisiana, shows significant fluctuation over the past five years, with a noticeable peak in incidents like larceny-theft in 2018 at 1,624 cases, dropping sharply to 137 cases by 2022. Similarly, burglary incidents fell from 454 in 2018 to 56 in 2022. These trends suggest a promising decline in property crimes, potentially enhancing the area's appeal to investors, residents, and real estate professionals. However, vigilance remains necessary, particularly for specific categories like vandalism and motor vehicle theft, which exhibit variable patterns that may affect insurance rates and property values.
Demographics
The demographics of Lafayette Parish, Louisiana highlight a nearly balanced gender ratio, with a slightly higher female population. Educational attainment in the area suggests a focus on higher education, indicated by a significant segment holding bachelor’s or graduate degrees. Age distribution reveals a young and working-age skew, particularly between 25 to 44 years, which can be beneficial for local workforce stability. The racial makeup is predominantly White, though there is notable... Read more
Race Distribution in Lafayette Parish, Louisiana (2022)
Educational Attainment in Lafayette Parish, Louisiana (2022)
Age Distribution in Lafayette Parish, Louisiana
Citizen Population in Lafayette Parish, Louisiana (2022)
Political Trends & Data
Lafayette County in Louisiana displayed a significant Republican inclination during the 2020 U.S. Presidential Election, where the GOP garnered around 63.30% of the vote, and Democrats trailed with about 34.70%. Minor parties like the Libertarians and smaller groups collectively secured just over 2%. This predominant Republican presence may shape local policies and sway future elections, affecting the county’s socio-political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Lafayette County in Louisiana shows a notable trend in political leaning during the 2020 U.S. Presidential Election. The Republican party secured a substantial lead with approximately 63.3% of the vote, while the Democrat party followed with roughly 34.7%. Minor parties such as the Libertarian and other smaller groups collectively gathered just over 2% of the vote. This indicates a strong Republican presence in the county, potentially impacting local policies and future elections.
63.32% of voters voted for the Republican party in the 2020 Presidential Election
34.65% of voters voted for the Democrat party in the 2020 Presidential Election
1.32% of voters voted for the Livertarian party in the 2020 Presidential Election
0.70% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Lafayette Parish, Louisiana, the student-to-teacher ratio has fluctuated over the past decade, reaching almost 19 in 2023, compared to a national average of 14 students per teacher. This trend could indicate strains on educational resources, potentially affecting educational quality and influencing the area's appeal to families seeking smaller class sizes. As the ratio continues to rise, this might impact real estate decisions for investors, homebuyers, and businesses prioritizing strong... Read more
Student-to-teacher ratio in Lafayette Parish, Louisiana over the last 10 years
Over the past decade, the student-to-teacher ratio in Lafayette Parish, Louisiana has shown considerable fluctuation, ranging from a low of almost 14 in 2016 to a high of nearly 19 in 2023. This dynamic poses various implications for potential investors, homebuyers, and those in the education sector. The upward trend in recent years, particularly the rise to about 19 students per teacher, suggests possible strains on educational resources and could be a crucial factor for families prioritizing smaller class sizes for more personalized learning. Compared to the national average of 14 students per teacher, Lafayette Parish appears to be moving towards larger class sizes, which might affect educational quality and influence the area's attractiveness for new residents and businesses considering educational infrastructure.
