Rent to own Homes in Lafayette, IN
Lafayette is a city in Tippecanoe County, Indiana. It was proposed for construction in May 1925 by a trader named William Digby. The city located right next to Purdue University, and it is also the site of the first official air mail delivery in the United States, which occurred on August 17, 1859. According to the United State Census, the population of Lafayette was 67,140 in 2010.
Lafayette, IN is a great place for affordable rent-to-own homes! With a median household income of over $46,925 and a median rent of $853, the Lafayette, IN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Lafayette, IN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Lafayette, IN Property Resources
Rent to own Homes in Cities Near Lafayette, IN
- Advance
- Amo
- Avon
- Beech Grove
- Bethany
- Brooklyn
- Brownsburg
- Camby
- Carmel
- Clayton
- Clermont
- Coatesville
- Crows Nest
- Danville
- Fishers
- Greenwood
- Heritage Lake
- Homecroft
- Indianapolis
- Jamestown
- Kirklin
- Lebanon
- Lizton
- Meridian Hills
- Monrovia
- Mooresville
- New Ross
- Noblesville
- North Crows Nest
- North Salem
- Pittsboro
- Plainfield
- Rocky Ripple
- Sheridan
- Speedway
- Spring Hill
- Stilesville
- Thorntown
- Ulen
- Westfield
- Whitestown
- Williams Creek
- Wynnedale
- Zionsville
Neighborhoods in Lafayette, IN
Elston Beck rent to own homes Dover Estates rent to own homes Old Farm rent to own homes Potter Hollow rent to own homes Southlea rent to own homes Amelia rent to own homes Poland Hill rent to own homes Sunnyside rent to own homes Central rent to own homes Sherwood rent to own homesPopular Zip Codes in Lafayette, IN
47904 rent to own homes 47902 rent to own homes 47903 rent to own homes 47901 rent to own homesBuying a Home in Lafayette, IN
Lafayette, IN is seeing rapid growth and Lafayette, IN's' housing market remains optimal with an average home price that is -45% below the 2025 national average. Lafayette, IN is part of Tippecanoe county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2025 for county Tippecanoe is 0.93% which is below the national average, which is 0.99%.
Median Home Price in Lafayette, IN
Median Rent in Lafayette, IN
Top Reasons to Live in Lafayette IN
Housing StatisticsThe median sale price of a home in Lafayette is $150,118. 53% of homes in Lafayette are owned, 39% are rented and 7% are not occupied. In 2012, 498 properties were sold in Lafayette. The estimated median value of a house or condo in 2011 was $106,900. Lafayette is also an excellent place to purchase a rent to own home, with plenty of affordable properties available for lease.
Weather and ClimateThe climate in Lafayette is humid and continental with hot summers and no dry season. The average annual rainfall is 40 inches. In general, snow falls in Lafayette between November and March. The average summer temperature of the region is 70 to 80F, while the average winter temperature is 25 to 35F. Lafayette has four distinct seasons and the area occasionally sees severe storms as well as tornadoes in the spring.
Outdoor ActivitiesThere are plenty of outdoor activities to enjoy in Lafayette. The proximity of the Tippecanoe River means that canoeing is a popular activity. The river boasts clean, clear waters and edible fish. There are also plenty of state owned parks in the area in which restored prairie, wetlands, open woodlands, picnic shelter, playgrounds, hiking, bicycle trails and camping can all be found. If you visit Prophetstown State Park, be sure to visit Historic Prophetstown, which is a 300 acre living history attraction that includes a recreated Woodland Indian village and a working Belgian draft horse farm. Lafayette is also home to Columbian Park Zoo, which offers free admission and houses bald eagles, emus and wallabys as well as other animals.
NeighborhoodsLafayette is made up of a large number of neighborhoods, which all have their own individual qualities and add character to the city. These neighborhoods include Centennial neighborhood, Valley Centre neighborhood, Columbian Park neighborhood and Vinton Highlands neighborhood. A majority of these neighborhoods are encompassed by other neighborhoods in the city, aside from a few key areas. Here are two neighborhoods you should know about:
