The story of this market
The typical home in ZIP 70556 sells for about $287,000, or $158 per square foot.
Prices are up +7.5% from a year ago, so sellers still have some momentum. Homes take about 62 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $478 a month.
ZIP 70556 — Mermentau
The Lafayette housing market shows steady growth with a median price of $287,000, reflecting a 7.5% year-over-year increase. While inventory levels are rising, demand remains supported by a stable local economy and diverse employment base. Buyers are finding more negotiating room as the market shifts toward a more balanced state.
This area is well-suited for families and professionals seeking a balance between urban amenities and suburban living. It attracts a diverse demographic, including university-affiliated residents, healthcare workers, and those looking for a lower cost of living compared to major national metros.
Median prices moved up 7.5% year over year.
Homes spend a median of 62 days on market with 4.2 months of supply — a balanced-paced market.
26% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 16.3% · poverty 20.4% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 70556, Lafayette Parish, LA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the Lafayette area are generally higher than the national average, with property crime being the most frequently reported offense. Local law enforcement continues to focus on community-based policing initiatives to address these trends.
The area is served by the Lafayette Parish School System, which offers a mix of traditional public schools and magnet programs. School quality varies significantly by neighborhood, with several highly-rated specialized academies available.
The region faces significant risks from tropical storms and hurricanes, necessitating robust windstorm insurance coverage. Flood risk is a primary concern for many low-lying areas, requiring careful review of FEMA flood maps for individual properties.
Lafayette serves as a regional hub for the energy, healthcare, and technology sectors, with significant ongoing investment in downtown revitalization. Infrastructure projects are focused on improving traffic flow along major corridors like Ambassador Caffery Parkway.
Property taxes are assessed by the Lafayette Parish Assessor's office based on fair market value, with homestead exemptions available for primary residences. The tax structure includes millage rates set by various local taxing authorities, including school districts and municipal governments.
Residents primarily rely on personal vehicles for commuting, with major traffic congestion common during peak hours on I-10 and I-49. Public transit options are limited, primarily consisting of the Lafayette Transit System bus routes.
The area features numerous parks such as Girard Park and Moncus Park, which offer walking trails and community events. Shopping and dining are concentrated along the Ambassador Caffery and Johnston Street corridors.
The rental market is characterized by steady demand driven by the local university and healthcare workforce. Vacancy rates remain moderate, with a mix of apartment complexes and single-family home rentals available.
The economy is anchored by the energy sector, healthcare systems like Ochsner Lafayette General, and the University of Louisiana at Lafayette. The region is also seeing growth in the technology and digital media industries.
The area is served by a network of state highways and is bisected by I-10 and I-49, providing regional connectivity. Local transit is provided by the Lafayette Transit System, though coverage is primarily limited to the urban core.
Development is focused on infill projects and the expansion of suburban residential communities on the city's periphery. Major infrastructure improvements are planned for key arterial roads to manage increasing traffic volumes.
The Lafayette Parish Assessor's office conducts periodic reassessments to ensure property values reflect current market conditions. Assessments are subject to state-mandated guidelines and local millage adjustments.
Parcels are subject to various taxing districts, including the Lafayette Parish School System, municipal fire protection districts, and local drainage/levee districts.
Property insurance premiums are elevated due to the region's susceptibility to hurricane and flood damage. Homeowners are encouraged to maintain comprehensive coverage, often requiring separate wind and flood policies.
Data retrieved from data.census.gov using ZCTA-level tables.
- Mr Gatti's Pizza4.412.2 mi
- Maison D'Memoire Bed & Breakfast Cottages4.918.6 mi
- Mr Gatti's Pizza4.25.6 mi
- Gator Chateau4.96.3 mi
- Mr Gatti's Pizza4.412.2 mi
- Mr Gatti's Pizza4.25.6 mi
- Oil and Gas Park4.76.3 mi
- Crowley Cinema IV4.312.2 mi
- Tony Robichaux Sports Complex4.512.3 mi
- Oil and Gas Park4.76.3 mi
- Levy Park4.512.8 mi
- Sterling Buick GMC West4.85.8 mi
- Crawfish Nest & Market4.512.1 mi
- Sterling Chrysler Dodge Jeep Ram West4.85.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major urban park featuring a lake, walking trails, and frequent community festivals.
A large, modern community park with extensive green space and recreational facilities.
The primary regional shopping destination for the Lafayette area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.