Rent by ZIP code in Lafayette
| ZIP code | County | Typical rent | vs city median |
|---|---|---|---|
| 47909 | Tippecanoe County | $1,640 | +32% |
| 47905 | Tippecanoe County | $1,300 | +5% |
| 47901 | Tippecanoe County | $1,180 | -5% |
| 47904 | Tippecanoe County | $1,092 | -12% |
Rent by bedroom count in Lafayette
Zillow's index above blends every unit size into one number. For a bedroom level view, these are HUD's FY2027 Fair Market Rents for Tippecanoe County. They include utilities and sit near the 40th percentile of the market, so treat them as the low side of what a typical unit lists for.
| Unit size | FY2027 Fair Market Rent | Change from FY2026 |
|---|---|---|
| Studio | $942 | +5.4% |
| 1 bedroom | $1,070 | +3.7% |
| 2 bedroom | $1,273 | +2.5% |
| 3 bedroom | $1,517 | +1.9% |
| 4 bedroom | $2,128 | +6.8% |
Source: HUD Fair Market Rents. Updates when HUD publishes a new fiscal year.
Is rent going up or down in Lafayette?
Typical rent across Tippecanoe County is $1,452 as of August 2026. That is up 3.0% from a year earlier and up 36.9% over five years.
| Year | Typical rent, Tippecanoe County | Change |
|---|---|---|
| 2021 | $1,081 | +6.8% |
| 2022 | $1,230 | +13.7% |
| 2023 | $1,331 | +8.2% |
| 2024 | $1,373 | +3.1% |
| 2025 | $1,434 | +4.5% |
| 2026 (through August) | $1,452 | +1.2% |
Zillow Observed Rent Index for the county, all home types, last published month of each year. Each row is compared with the end of the year before it.
Lafayette rent questions
- What is the average rent in Lafayette, IN?
- Typical asking rent in Lafayette is $1,240 a month as of July 2026, across 4 ZIP codes. By ZIP code it runs from $1,092 to $1,640.
- How much is rent for a 2 bedroom in Lafayette?
- HUD's FY2027 Fair Market Rent for a two bedroom in Tippecanoe County is $1,273 a month including utilities. A one bedroom is $1,070 and a three bedroom is $1,517. Fair Market Rent is set near the 40th percentile, so a typical unit lists somewhat higher.
- Is rent going up or down in Lafayette?
- Rent is rising. Typical rent in Tippecanoe County is $1,452 as of August 2026, up 3.0% from a year earlier.
- What is the cheapest ZIP code to rent in Lafayette?
- ZIP 47904 has the lowest typical asking rent in Lafayette at $1,092 a month, compared with $1,240 for the city overall.
- How much income do you need to rent in Lafayette?
- Most landlords look for gross income of about three times the rent. At the typical Lafayette rent of $1,240, that is about $3,720 a month, or $44,640 a year. This is a common screening rule of thumb, and individual landlords set their own.
How to use these numbers
These are Zillow Observed Rent Index values, a smoothed measure of typical asking rent for single family homes, condos, and apartments in each ZIP code. They describe what units are listed for, not what any specific unit will get. Condition, bedroom count, and the exact block all move the number.
If you are underwriting a purchase, use the ZIP figure rather than the city median, and then verify against live listings for the same bedroom count before you commit. Lafayette sits in the Lafayette-West Lafayette, IN metro area.