States › Tennessee › Lafayette

Is Lafayette, TN expensive to live in?

ExpensiveRent takes 36 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,6705% lower than U.S. average
💵 Families earn per year (2026)$55,797about $4,650/month · 36% lower than U.S. average
🔑 House price$213,90036% lower than U.S. average

Rent is higher than in 51% of U.S. cities. A typical house costs about 3.8 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $66,800 a year. That is $32 an hour at a full-time job.

Is rent cheaper than other Tennessee cities?

No. Rent here is more expensive than in most of Tennessee. It is number 84 of 114 cities from cheapest to most expensive.

Lafayette
$1,670
Dunlap
$913
McKenzie
$1,000
Millersville
$1,552
Eagleton Village
$1,183
Rockwood
$1,141
Erwin
$646

How much do households earn in Lafayette?

Under $25k
20.1%
$25k–50k
31.4%
$50k–100k
42.2%
$100k–150k
3.1%
$150k+
2.9%

Share of households by yearly income. 6.0% of households earn $100,000 or more.

Rent by apartment size in Lafayette

SizeLafayetteU.S. average
1 bedroom$480$1,324
2 bedrooms$826$1,509
3 bedrooms$1,182$1,698
4 bedrooms$1,761$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Lafayette overall?

Everyday prices in Tennessee overall are 8% below the U.S. average (index 91.9, U.S. = 100).

Housing
79
Goods (food, clothes…)
96
Utilities
72
Other services
95
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lafayette, so the Tennessee figure is shown.

Taxes and bills in Lafayette

🏛️ Property tax$886a year · 0.41% of home value · U.S. $3,119
⚡ Electric bill$150a month (typical) · U.S. $156

Life in Lafayette

Commute to work28.1 minU.S.: 26.4 min
College degree11.8%U.S.: 35.7%
Own their home48.5%U.S.: 65.2%
Below poverty line27.6%U.S.: 12.5%
Unemployment5.4%U.S.: 5.2%

Is it cheaper to rent or buy in Lafayette?

Buying is cheaper month to month: about $186 a month less than renting.

Renting
$1,670
Owning
$1,484

Owning assumes a typical $213,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $21,390 for the down payment.

Frequently asked questions

What is the average rent in Lafayette, TN?

Renting in Lafayette costs a median of about $1,670 a month in 2026, including utilities. The Tennessee median is $1,279.

How much do I need to make to live in Lafayette?

To keep rent under 30% of income, you need about $66,800 a year, or $32 an hour at a full-time job.

Is Lafayette cheap or expensive?

Lafayette is rated Expensive: rent takes 35.9% of the typical household income of $55,797. It ranks 84th cheapest of 114 Tennessee cities we track.

How much are property taxes in Lafayette?

The median homeowner in Lafayette pays $886 a year in property taxes, about 0.41% of the median home value.

Is Lafayette more expensive than the national average?

Overall prices in Tennessee are 8% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Lafayette?

The median home value in Lafayette is $213,900, about 3.8 times the typical yearly household income.

5,727 people live in Lafayette. Numbers are typical (middle) values.