Lafayette, Indiana Income Statistics
Lafayette Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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D
Lafayette Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Lafayette | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,194 | $71,967 | $80,455 |
| Median Personal Income | $44,355 | $55,757 | $60,758 |
| Average Yearly Income Growth | 3.2% | 4.5% | 4.8% |
| Six-Figure Earners | 5.2% | 10.2% | 13.9% |
| $200k+ Households | 3.4% | 8.2% | 13.2% |
The median household income in Lafayette is about 25% lower than in Indiana. Income has been growing slower in Lafayette (3.2%/yr) than in Indiana (4.5%/yr).
About 5% of adults in Lafayette earn six figures ($100,000 or more) a year, lower than the Indiana average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Lafayette, Indiana grew by 44.7% from 2009 to 2024, reaching $54,194 in 2024. That's an average of about 3.2% per year.
Income Inequality and the Gender Pay Gap in Lafayette
| Metric | Lafayette | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.493 | 0.534 | 0.552 |
| Male Median Income | $51,661 | $65,086 | $69,667 |
| Female Median Income | $42,446 | $51,220 | $56,850 |
| Gender Pay Gap | 17.8% | 21.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Lafayette, it is 0.493, lower than Indiana's 0.534, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 22% more than women's income in Lafayette, Indiana. Over a 35-year career, a 22% wage gap accumulates to roughly $322,525 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lafayette, Indiana has narrowed from about 21% to 18% in 2024. Over that period the gap was widest at 23% in 2020, and was narrowest at 17% in 2015. In dollar terms, the gap has widened by $1,018 since 2009.
Employment
| Metric | Lafayette | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 4.3% | 5.2% |
| Working from Home | 8.0% | 10.7% | 15.0% |
| Commute time (minutes) | 15 | 21 | 22 |
Approximately 1,286 people are unemployed in Lafayette, Indiana.
The average commute time in Lafayette is 15 minutes, shorter than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lafayette, Indiana has fallen from 8.9% to 3.6% in 2024. Over that period the rate peaked at 10.0% in 2013.
Lafayette, IN Wealth Compared With Nearby Cities
How Lafayette, IN compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Lafayette, IN | 68,693 | $54,194 #1/2 | 3.2%/yr #1/2 | 3.6% #1/2 | 0.493 #1/2 |
| West Lafayette, IN | 45,683 | $32,903 | 2.0%/yr | 4.5% | 0.723 |
Conclusion
Considering all these factors, Lafayette, Indiana has an overall wealth index grade of D, making it about on par with Indiana, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lafayette, Indiana.
How Rich Is Lafayette, Indiana?
Lafayette has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $54,194, about 25% lower than the Indiana average of $71,967.
How fast is household income rising in Lafayette, Indiana?
Between 2009 and 2024, the median household income in Lafayette, Indiana rose 45%, from $37,444 to $54,194. Over the same years, income here lagged behind Indiana as a whole: +45% against +52%.
What was the median household income in Lafayette in 2023?
In 2023, the median household income in Lafayette, Indiana was $52,797, up 4% from $50,761 in 2022. The Indiana median that year was $70,115.
What was the median household income in Lafayette in 2020?
In 2020, the median household income in Lafayette, Indiana was $46,224. By 2024 it had risen 17% to $54,194.
What is the Gini coefficient in Lafayette, Indiana?
The Gini coefficient in Lafayette is 0.493. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Lafayette, Indiana?
Since 2009, the income gap between men and women in Lafayette, Indiana has narrowed from about 21% to 18% in 2024. Over that period the gap was widest at 23% in 2020, and was narrowest at 17% in 2015. In dollar terms, the gap has widened by $1,018 since 2009.
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