Welcome to Lafayette, Louisiana, where Cajun culture and contemporary living come together in the heart of Acadiana. This welcoming city offers renters a range of options, with average rent prices from $706 for studios to $1,533 for three-bedroom homes, showing modest annual increases around 2-3%. The rental market spans from apartments near Johnston Street to residential communities near the University of Louisiana at Lafayette campus. Notable areas include the historic Downtown Lafayette district with its preserved architecture, and the River Ranch area, featuring shops and restaurants within walking distance.
Lafayette celebrates its heritage through food, music, and community gatherings. The Vermilion River provides a natural backdrop for outdoor recreation, winding through neighborhoods and parks. The presence of the University of Louisiana at Lafayette adds to the city's educational and cultural landscape. The annual Festival International de Louisiane showcases the region's French heritage through music and arts performances. Originally named Vermilionville in 1821, Lafayette received its current name in 1884 in honor of General Lafayette. Today, the city maintains its Cajun and Creole traditions while offering modern amenities and conveniences that appeal to renters seeking a distinctive Southern community.
Downtown Lafayette is a vibrant community with culture and arts, dining, and nightlife.
Boats anchored at the shore await their turn for an adventurous swamp tour in Lafayette.
Many residents of Lafayette ride bicycles around the downtown area.
As of March 2026, the average apartment rent in Lafayette, LA is $721 for a studio, $995 for one bedroom, $1,194 for two bedrooms, and $1,648 for three bedrooms. Apartment rent in Lafayette has decreased by -1.1% in the past year.
The cost of living in Lafayette, LA is 13.0% lower than the national average. Generally, housing in Lafayette is 36.7% less expensive than the national average, with rent falling between $721 - $1,648. You can expect to pay 2.4% less for groceries, 10.0% less for utilities, and 0.1% less for transportation.
If you love Mardi Gras, live somewhere that shares your passion! Explore other cities that host the biggest celebrations in the U.S.
Explore how walkable, bikeable, drivable, and transit-friendly Lafayette, LA is for everyday living.
Somewhat Walkable
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you’ll need a car.
Bikeable
While there’s some bike infrastructure in this area, you’ll still need a car for many errands.
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Myrtle Place Elementary School
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David Thibodaux STEM Magnet Academy
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David Thibodaux STEM Magnet Academy
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The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
