Lafayette, Louisiana is a great place to live. Located in zip code 70506, Lafayette is known for its beautiful scenery and vibrant culture. The 2 bedroom rent in Lafayette is only $1,000 compared to the US average of $1,430 making it an affordable place to live. Homeowners are also pleasantly surprised by the grocery cost index which is 96 compared to the US average of 100. This makes basic necessities much more economical than other parts of the country.
Local businesses such as Gerace Construction Services Inc., Mouser's Septic Tank Service, and Petroleum Solutions LLC provide valuable services to consumers in Lafayette. In addition, local eateries such as La Pizzeria and Gordon Biersch Brewery Restaurant offer unique cuisine experiences that can't be found anywhere else. With all these benefits combined, it's no wonder Lafayette has become a popular destination for those looking for an affordable yet vibrant place to call home. All told, the estimated cost of living in Lafayette is quite low compared to other parts of the country making it an attractive option for those looking for a fresh start or a change of pace from hectic city life.
Lafayette (zip 70506) has an unemployment rate of 5.8%. The US average is 6.0%.
Lafayette (zip 70506) 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 (zip 70506)
- The Sales Tax Rate for Lafayette (zip 70506) is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Lafayette (zip 70506) 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 (zip 70506)
- The average income of a Lafayette (zip 70506) resident is $25,344 a year. The US average is $28,555 a year.
- The Median household income of a Lafayette (zip 70506) resident is $49,945 a year. The US average is $69,021 a year.