Real Estate Investing in Lafayette, Indiana (47904)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47904 (Lafayette, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
No major risk flags on the data we track.
What’s happening in Lafayette, IN (47904)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47904 Lafayette
On balance, ZIP 47904 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $189K median. It rewards specialists, not generalists.
The investment case in 47904 is sturdy only for operators who understand what they are buying. A $189K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 47904 sits on the difficult end of the IN spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
The 47904 ZIP's population of 16,340 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
Distressed ZIPs reward experience. solid returns are possible in 47904, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Lafayette:
Property Strategy for 47904
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $129,706 | $950 | 5.3% | +12.1% | $129,706 |
| 2BR | $160,810 | $1,140 | 5.1% | +11.6% | $80,405 |
| 3BR | $191,471 | $1,370 | 5.2% | +10.2% | $63,824 |
| 4BR | $231,292 | $1,830 | 5.7% | +8.9% | $57,823 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47904 Compare?
| Metric | 47904 | Lafayette | Lafayette-West Lafayette, IN | Indiana |
|---|---|---|---|---|
| Home Value | $188,704 | $255,056 | N/A | $248,442 |
| 5-Year CAGR | 8.2% | 6.1% | N/A | 7.7% |
| Avg Rent | $1,092 | $1,303 | N/A | - |
| Cap Rate | 4.5% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47904 (Lafayette, IN). Anonymous, moderated, never written by AI.
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Property managers serving Tippecanoe County
Manage rentals here? List your business →B.W. Parks offers rental properties in Lafayette, Indiana. summary from their website
June Palms Property Management provides property management services in Lafayette, Indiana. summary from their website
Sorola Properties is a property management company located in Lafayette, IN. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $188,704 |
| Monthly Rent | $1,092 |
| Price-to-Rent | 14.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.0% |
| Cap Rate | 4.5% |
| 5-Year IRR | 12.7% |
📈 Home Appreciation
| 1-Year | +6.8% ▲ |
| 3-Year CAGR | +7.5% ▲ |
| 5-Year CAGR | +8.2% ▲ |
| 10-Year CAGR | +9.8% ▲ |
🏠 Rent Trends
| 1-Year | +11.2% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 47904
Population: 16,340
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 47904
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 47,013 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Lafayette, IN better for rentals, flips, or BRRRR?
A careful cash-flow rentals with hands-on management strategy Lafayette, IN best. The market produces steady results for that approach at the $189K price point.
Are tenants stable in Lafayette, IN?
Tenant demand in Lafayette, IN is solid. The local workforce $1,092/mo rents across most rental classes.
What monthly rent should investors expect in Lafayette, IN?
Rent in Lafayette, IN is around $1,092/mo. The resulting rent-to-value relationship with $189K pricing is reasonable for most investor models.
Can owner-occupants cash flow in Lafayette, IN?
For house hackers, Lafayette, IN is a challenging. The $1,092/mo rent on a unit helps defray the mortgage on a $189K property.
Do rentals sit vacant long in Lafayette, IN?
Lafayette, IN sees elevated vacancy, which is reasonable relative to the broader IN rental market.
You know 47904 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47904 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 47904 ranks in Lafayette-West Lafayette, IN
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