How many renters live in Lafayette Parish, Louisiana?
The County of Lafayette Parish has people living in households.
There are renters living in renter households in this County. Renters make up 31.87 percent of the population living in Lafayette Parish.
What is the rental market like in Lafayette Parish, Louisiana?
There are an estimated housing units in the Lafayette Parish area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Lafayette Parish, Louisiana, there are 1.07 rental units.
What is the vacancy rate for rentals in Lafayette Parish?
The rental vacancy rate in Lafayette Parish is 4 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Lafayette Parish for each bedroom size?
Occupied Rental Units by Size in Lafayette Parish
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 212 | 8,011 | 14,778 | 12,444 | 1,687 |
Occupied Rental Units by Size in Lafayette Parish
A large number of apartments in Lafayette Parish have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Lafayette Parish
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $701 to $1,755. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $701 |
| One BR | $921 |
| Two BR | $1,034 |
| Three BR | $1,344 |
| Four BR | $1,755 |
2024 Fair Market Rents in Lafayette Parish, Louisiana
How many units are rented at Fair Market Rent (FMR) in Lafayette Parish?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 133 | 63 percent |
| One BR | 5,284 | 66 percent |
| Two BR | 7,521 | 51 percent |
Rental Units Below FMR in Lafayette Parish, Louisiana
How many affordable rental units are in Lafayette Parish?
There are a variety of federal affordable housing programs serving households in Lafayette Parish, Louisiana including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly | |
| Section 811 Supportive Housing for Persons with Disabilities | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Lafayette Parish, Louisiana
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Lafayette Parish, Louisiana
Lafayette Parish features 2,463 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Lafayette Parish, Louisiana
There are 954 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lafayette Parish.
Housing Choice Vouchers in Lafayette Parish, Louisiana
On average, Section 8 Housing Choice vouchers pay Lafayette Parish landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Lafayette Parish.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lafayette Parish, Louisiana for a two-bedroom apartment is between $931 and $1,137.
Sourced from federal housing data and AffordableHousingOnline.com research.