Back to Market Intelligence Directory

Zip Code 70506

Lafayette, LA • Lafayette Parish County

Real Estate Market Analysis

Q3 2025 Report
$175,175 (Jan 2025), forecast to reach $184,710 by Sep 2025
Median Home Value
490,220 (metro, 2023)
Population
$54,000 (metro est.)
Median Income
B (Good, above state average)
School District Rating

Market Statistics

Property Values

$175,175 (Jan 2025), forecast to reach $184,710 by Sep 2025
Median Home Value
$972 (metro average, 2023)
Median Rent
$120–$140 (est. for 2025, varies by property type)
Price per Sq Ft

Market Performance

Home Appreciation-7.8% YoY (2024), but forecasted growth in late 2025
Market VelocityHomes sell in ~45 days; sale-to-list ratio 0.981 (May 2024)
Foreclosure RateBelow state average since 2019

Area Information

Area SizeApprox. 8 sq mi
CountyLafayette Parish
Primary CityLafayette

Housing Profile

Housing Statistics

Total Housing Units211,408 (metro, 2023); 5,155 unit deficit
Owner Occupied~60% (metro est.)
Rental Properties~40% (metro est.)
Vacant UnitsLow vacancy, tight rental market
New Construction11% increase in new construction expected in 2025; 580+ multifamily units under construction (metro)

Housing Types

Single-family homesMultifamily apartmentsTownhomes

Demographics

490,220 (metro, 2023)
Population
34 (metro est.)
Median Age
$54,000 (metro est.)
Median Income
~96% (unemployment ~4%)
Employment Rate
High school grad+: 87%; Bachelor’s+: 28% (metro est.)
Education Levels
Mix of families, singles, and students
Family Composition

Education Quality

School District Performance

B (Good, above state average)
District Rating
School DistrictLafayette Parish School System
Test ScoresSlightly above Louisiana average
Graduation Rates85% (district avg.)

Schools in Area

  • Acadiana High School
  • Edgar Martin Middle School
  • Westside Elementary

Economic Factors

Employment & Business

Job Growth2.6% increase in mining, logging, construction (2022); steady overall growth
Unemployment Rate~4% (metro, 2024)
Business EnvironmentDiverse, with strong healthcare, education, energy, and retail sectors
Commercial ActivityActive retail corridors, university-driven demand

Major Employers

  • Ochsner Lafayette General
  • University of Louisiana at Lafayette
  • Schlumberger
  • Stuller Inc.

Infrastructure & Quality of Life

Infrastructure

Transportation Access

  • • I-10, I-49 highways
  • • Lafayette Regional Airport
  • • Public transit (LTS buses)

Utilities & Services

  • • Electricity (Entergy, LUS)
  • • Water/Sewer (LUS)
  • • Natural gas

Quality of Life

Safety & Environment

Moderate; property crime above national average, violent crime near average

Good air quality, some flood risk in low-lying areas

Healthcare Access

  • • Ochsner Lafayette General
  • • Our Lady of Lourdes Regional Medical Center

Development Trends

Planned Developments

  • New multifamily complexes (580+ units metro)
  • Mixed-use retail/residential projects

Infrastructure Projects

  • • Road expansions near major corridors
  • • Drainage/flood mitigation projects

Investment Outlook

Growth Outlook

Positive; steady population and job growth, strong demand for affordable housing

Investment Opportunities

  • • Workforce housing
  • • Student rentals
  • • Value-add multifamily

Marketing Intelligence

Target Demographics

  • First-time buyers
  • Young professionals
  • Investors
  • University staff/students

Competitive Advantages

  • Lower prices than national average
  • Strong rental demand
  • Growing job market

Pricing Strategies

List near market value; expect negotiation within 2% of list

Common Objections & Response Strategies

Objection: Concerns about property crime rates

Response Strategy:

Highlight community policing, neighborhood watch, and recent safety improvements

Objection: Flood risk in some areas

Response Strategy:

Provide flood zone maps, discuss mitigation, and insurance options

Objection: Older housing stock

Response Strategy:

Showcase renovated homes and new construction options

Professional Recommendations

1

Emphasize affordability and rental demand in marketing

2

Target university-affiliated buyers and investors

3

Stay informed on new construction and zoning changes

4

Educate clients on flood risk and insurance

5

Leverage virtual tours and digital marketing to reach remote buyers

Competitive Analysis

Comparable Markets

  • 70503 (higher price point, more luxury homes)
  • 70501 (lower price, higher rental demand)
  • 70508 (newer developments, higher appreciation)

Market Positioning

Attractive for value-oriented buyers and investors

Competitive Advantages

  • Affordability
  • Central location
  • University proximity

Price Comparison

Lower median price than 70503/70508, higher than 70501

Investment Metrics

6–7% (multifamily, 2025 est.)
Cap Rates
6–7% gross yield typical for single-family rentals
Rental Yields
~15–16
Price-to-Rent
Strong for well-located rentals, especially near university
Cash Flow
3–4% annualized (2025–2027)
Appreciation

Buyer Journey Insights

First-Time Buyers

Benefit from affordability, down payment assistance, and FHA/VA loan options

Move-Up Buyers

Can find larger homes at reasonable prices, especially in newer subdivisions

Downsizers

Townhomes and smaller single-family homes available, low-maintenance options

Investors

Strong rental demand, especially for student and workforce housing

Relocators

Central location, good schools, and job opportunities appeal to newcomers

This zip code analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.

Related Market Intelligence

Explore connected markets and opportunities

Nearby Areas

New Orleans, LA

city

Adjacent location

$350,000

Baton Rouge, LA

city

Adjacent location

$290,000

Similar Markets

Baton Rouge, LA

city

Similar market (96% price match)

$290,000