Lafayette, LA Metro Area is a great place for those looking to live in an affordable area. The two bedroom rent is nearly $500 less than the national average, making it a cost effective location. Grocery costs are also significantly lower than the US average, coming in at 93 on the index versus 100 nationally. This makes living expenses much more manageable for individuals and families alike. Lafayette also boasts numerous companies and institutions such as Louisiana State University, Our Lady of Lourdes Regional Medical Center, and Iberia Bank. These local businesses provide plenty of job opportunities and contribute to the local economy.
Lafayette Metro Area has an unemployment rate of 6.0%. The US average is 6.0%.
Lafayette Metro Area has seen the job market increase by 0.2% 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 Metro Area
- The Sales Tax Rate for Lafayette Metro Area is 8.8%. The US average is 7.3%.
- The Income Tax Rate for Lafayette Metro Area 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 Metro Area
- The average income of a Lafayette Metro Area resident is $25,781 a year. The US average is $28,555 a year.
- The Median household income of a Lafayette Metro Area resident is $55,539 a year. The US average is $69,021 a year.