Homes for Sale in Lafayette, IN: What You Need to Know
The area surrounding Lafayette, Indiana has a rich history. The earliest recorded history goes back to the early 1700s when the French established Fort Ouiatenon on the Wabash River just 3 miles south of present-day Lafayette. This fort became a major site for trade of all kinds. Thanks to its prime location along the Wabash River, Lafayette was a major trading hub well into the 20th century.
The Great Outdoors
Lafayette has plenty to do outside. With more than 24 parks in the city, you don’t need to go far to enjoy the outdoors. However, if you’re willing to drive a short distance, there are some pretty interesting places to visit. For avid hikers, check out Prophetstown State Park. Located just to the north of Lafayette, this park has almost 10 miles of hiking trails from easy to moderate difficulty. There’s also an easy biking trail in the park. Located right along the Wabash River, this park has plenty of scenic views.
There’s plenty of culture to take in while in Lafayette. The city itself is divided into a few different districts, with each offering something unique. For a taste of the local college experience, head to the Chauncey Village District. This area caters more to students and alumni, so you’re bound to see plenty of Purdue pride. The larger Wabash Riverfront District is home to some of the largest events in Lafayette. It’s the site of large plazas and venues like Riehle Plaza, Tapawingo Park, and Wabash Landing. Finally, there’s the Arts & Market District. Hence the name, this district is home to plenty of galleries, shops, and museums. It’s also the site of the Lafayette Farmer’s Market, held every Saturday from May through October.
Without a doubt, one of the biggest economic drivers in Lafayette is Purdue University. As a large public university with more than 30,000 undergraduates in a typical year, Purdue employs thousands of people from the local area. However, the Lafayette area is also home to a number of major corporations and manufacturing plants. Some of the biggest names in the area are Caterpillar and Subaru. Additionally, Wabash National, the world’s largest manufacturer of semi-truck trailers, has its headquarters in Lafayette.
The Cost of Living in Lafayette
Lafayette, Indiana is a very affordable place to live. In 2017, the median home value in the city was just over $105,000. That’s almost $40,000 less than the state average for Indiana! Additionally, in that same year, the median household income in Lafayette was just over $45,000. Also, in 2017, per capita income in the city was estimated to be just under $26,000. While the median income in Lafayette is a bit lower than the Indiana state average, home prices in the city are significantly lower than the state average.