Real Estate Investing in Lafayette, Indiana (47909)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47909 (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.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Lafayette, IN (47909)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47909 Lafayette
ZIP 47909 inside Tippecanoe County looks affordable on the surface — median value of $282K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $1,640/mo on a $282K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 47909 sits below the stated 0.0% once reality is priced in.
Regionally, 47909 sits on the difficult end of the IN spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 47909 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 47909 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Lafayette:
Property Strategy for 47909
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $214,554 | $1,270 | 4.3% | +9.7% | $107,277 |
| 3BR | $261,943 | $1,520 | 4.2% | +8.5% | $87,314 |
| 4BR | $354,753 | $2,040 | 4.1% | +7.3% | $88,688 |
| 5BR | $489,602 | — | — | +6.9% | $97,920 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47909 Compare?
| Metric | 47909 | Lafayette | Lafayette-West Lafayette, IN | Indiana |
|---|---|---|---|---|
| Home Value | $281,724 | $255,056 | N/A | $248,442 |
| 5-Year CAGR | 6.0% | 6.1% | N/A | 7.7% |
| Avg Rent | $1,640 | $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 47909 (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 | $281,724 |
| Monthly Rent | $1,640 |
| Price-to-Rent | 14.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.0% |
| Cap Rate | 4.5% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | +7.3% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 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 47909
Population: 42,971
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 47909
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
How much should I expect to pay for a home in Lafayette, IN?
Lafayette, IN home values average about $282K. That price point suits investors targeting rentals with $1,640/mo in monthly income.
Are eviction rules reasonable in Lafayette, IN?
Lafayette, IN operates under IN law, which is landlord-friendly overall for landlords. Expect measured treatment in typical lease and eviction cases.
Are there empty rentals in Lafayette, IN?
Lafayette, IN carries elevated vacancy risk. Expect reliable absorption at market rents of $1,640/mo.
Does a duplex house hack pencil in Lafayette, IN?
House hacking works a challenging in Lafayette, IN. Rents of $1,640/mo against $282K acquisition make the strategy solid for owner-occupants.
How qualified is the tenant pool in Lafayette, IN?
Working renters make up the core of the Lafayette, IN tenant base. The pool is reasonable for investors targeting long-term holds.
You know 47909 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47909 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 47909 ranks in Lafayette-West Lafayette, IN
Every ZIP in this metro, ranked. Free.
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