Lafayette, IN is a city located in the state of Indiana. It is known for its high quality of life and low cost of living. The average 2 bedroom rent in Lafayette is significantly lower than the US average, at $1,050 compared to $1,430. In addition, groceries are also cheaper in Lafayette with the Grocery Cost Index being 94 versus 100 in the US. This makes Lafayette an ideal place to work and live. The city has access to many local businesses such as Purdue University which is a top 20 research university and Wabash National Corporation which specializes in producing semi-trailers and liquid transportation systems. Moreover, Lafayette is home to several shopping centers like Creasy Commons Shopping Center and Tippecanoe Mall that accommodate many locals. These facts make Lafayette an attractive destination for families looking for a place to call home.
Lafayette has an unemployment rate of 4.9%. The US average is 6.0%.
Lafayette has seen the job market increase by 3.6% over the last year. Future job growth over the next ten years is predicted to be 37.0%, which is higher than the US average of 33.5%.
Tax Rates for Lafayette
- The Sales Tax Rate for Lafayette is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lafayette is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lafayette
- The average income of a Lafayette resident is $21,431 a year. The US average is $28,555 a year.
- The Median household income of a Lafayette resident is $47,690 a year. The US average is $69,021 a year.