Low Income Apartments and Affordable Housing For Rent in Lafayette Parish, LA

Discover affordable housing in Lafayette Parish where there are 52+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lafayette Parish, Louisiana
$19.58/hour
$12.33 (+170%) more than Louisiana minimum wage and $12.33 (+170%) more than the Federal minimum wage.
Learn More About Lafayette Parish, Louisiana Affordable Housing ↓

How many renters live in Lafayette Parish, Louisiana?

The County of Lafayette Parish has 247,866 people living in 103,581 households.

There are 78,993 renters living in 37,400 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 112,617 housing units in the Lafayette Parish area. Of these, 39,883 units are rental homes, making up 35 percent of the housing market. For every renter household in Lafayette Parish, Louisiana, there are 1 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 many renter households in Lafayette Parish are overburdened by housing costs?

Among renter households in this market, 47 percent have housing cost burden. Further, 23 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

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 822
Public Housing 486
Section 8 Project-Based Rental Assistance 1,145
Section 202 Supportive Housing for the Elderly 127
Section 811 Supportive Housing for Persons with Disabilities 86
USDA Section 515 Rural Rental Housing 450
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.