Lafayette, LA is an attractive option for renters due to its relatively low costs. The average two bedroom rent in Lafayette is $1,050, compared to the US average of $1,430. Additionally, the Grocery Cost Index in Lafayette is 96 compared to 100 in the US. This should be welcome news to anyone looking for a more affordable place to live.
Lafayette is home to several major companies and institutions such as Acadian Ambulance Service Inc., LHC Group Inc., Iberia Bank Corp., Stone Energy Corp., Danos and Curole Marine Contractors LLC, Entergy Louisiana LLC, and Lafayette General Health System. These companies offer employment opportunities to residents of Lafayette that can put them on a path towards financial stability.
Lafayette has an unemployment rate of 5.8%. The US average is 6.0%.
Lafayette has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 12.2%, which is lower than the US average of 33.5%.
Tax Rates for Lafayette
- The Sales Tax Rate for Lafayette is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Lafayette is 6.0%. 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 $28,845 a year. The US average is $28,555 a year.
- The Median household income of a Lafayette resident is $55,329 a year. The US average is $69,021 a year.