Lafayette is an affordable place to call home. The total cost of living in Lafayette is about four percent lower than the national average. Based on the national average of 100%, Lafayette is 95%. Compared only to other metropolitan areas, Lafayette is considerably more affordable. For example, San Francisco’s cost of living is 167.5% , and Seattle’s cost of living is 126.9%. Lafayette does have a higher cost of living as compared to nearby cities, like St. Martinville, Duson, and Arnaudville.
Cost of living is calculated based on a variety of indicators each having a different weight, including housing (30%), goods and services (33%), groceries (13%), health care (5%), transportation (9%), and utilities (10%). In addition to the above factors, the combined sales tax rate for Lafayette is 8.45%, and the income tax rate for Lafayette is 6%.
Housing is one of the greatest factors in the cost of living calculation. Lafayette’s cost of living index for housing is 93. This is higher than the state housing index of 81. According to Zillow, the median home value in the Lafayette metropolitan area is $134,200, and the median rent price is $1,100.
Goods and Services
Lafayette’s cost of living index for everyday goods and services is 93. It is 4 points lower than the state index for goods and services. It takes into account things such as the average price for a haircut, toothpaste, and going to see a movie.
Lafayette’s cost of living index for groceries is 98. It is equal to the grocery index for the entire state of Louisiana. With the low cost of groceries and many options for dining out, it is easy for Lafayette residents to find delicious food at an affordable price. The region is known for its filling and inexpensive plate-lunch specials where you can get a meat, gravy covered starch, pair of vegetable sides, and a piece of bread.
Lafayette’s cost of living index for health care is 87. It is 10 points lower than the state health care index of 97. With 17 hospitals and over 800 physicians in the region, Lafayette residents have easy access to affordable, quality health care.
Lafayette’s cost of living index for transportation is 96. Lafayette has a wide range of transportation options. For drivers, Interstate 10 and Interstate 49 meet north of the downtown area, and Route 90 and 167 intersect in the center of downtown. The Lafayette Regional Airport offers direct flights to nearby hubs, and Amtrak has a train station. Biking is another affordable option.
Lafayette’s cost of living for utilities, including electric and gas, is 109. This is higher than the state utility index of 94.
Your Lafayette Lawyer
If you or a loved one have been in a car, motorcycle, or truck accident and are looking for a local Lafayette, Louisiana attorney, call Bart Bernard Injury Lawyers at 888-GET-BART. The experienced personal injury attorneys at Bart Bernard Injury Lawyers will provide you with the help that you need.