Rentometer, Inc. | Data as of 10/22/2025
Lafayette, Indiana, blends Midwestern charm with the vibrant energy of a college town. Nestled along the Wabash River and home to Purdue University, the city offers a mix of historic neighborhoods, bustling downtown districts, and easy access to cultural attractions such as the Purdue Arboretum and the Tippecanoe County Historical Museum. Residents enjoy a walkable core with boutique shops, local eateries, and riverfront parks, while nearby West Lafayette provides additional dining and entertainment options, making the area appealing to students, professionals, and families alike.
The rental market in Lafayette features a balanced mix of apartments and single‑family homes, catering to a wide range of lifestyle preferences. Studio apartments typically rent in the $900s, with one‑bedroom units ranging in the $1,100s and two‑bedroom options in the $1,300s. Larger three‑bedroom apartments often approach the $1,500s. For those seeking a house, one‑bedroom homes are commonly listed in the $1,000s, two‑bedroom houses around the $1,300s, and three‑bedroom properties near the $1,600s. Larger family homes with four or more bedrooms can be found in the $1,800s, providing spacious options for growing households. These price levels reflect a market that remains affordable relative to many neighboring metros, while still offering modern amenities and convenient locations.
Key neighborhoods such as Downtown Lafayette, Riverside, and the historic Tippecanoe district each bring unique character to the rental landscape. Downtown boasts loft‑style apartments within walking distance of shops, restaurants, and public transit, making it ideal for renters who value an active urban lifestyle. Riverside offers scenic river views and a mix of newer developments, while Tippecanoe provides a quieter, family‑friendly environment with easy access to schools and parks. Together, these areas create a dynamic rental ecosystem that meets the needs of students, young professionals, and long‑term residents seeking comfort and community in the heart of Indiana.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $917 | $839 | $595 - $1,649 | $765 - $1,089 |
| Apartment | 1 Bedroom | $1,116 | $1,050 | $650 - $1,959 | $992 - $1,252 |
| Apartment | 2 Bedroom | $1,407 | $1,300 | $650 - $2,609 | $1,150 - $1,599 |
| Apartment | 3 Bedroom | $1,569 | $1,475 | $1,150 - $2,494 | $1,397 - $1,800 |
| House | 1 Bedroom | $1,020 | $1,000 | $650 - $1,300 | $875 - $1,300 |
| House | 2 Bedroom | $1,291 | $1,250 | $725 - $2,500 | $1,150 - $1,395 |
| House | 3 Bedroom | $1,619 | $1,637 | $945 - $3,500 | $1,350 - $1,800 |
| House | 4+ Bedroom | $1,852 | $1,785 | $175 - $3,500 | $1,600 - $2,200 |
In the current period, the average rent in Lafayette was $916 for Studio, $1,106 for 1 Bedroom, $1,368 for 2 Bedroom, $1,611 for 3 Bedroom, and $1,882 for 4+ Bedroom.
Data provided by Rentometer, Inc.