Cost of Living in La Fayette, AL

With a cost of living index of 56, La Fayette, AL is one of the most affordable cities in the country. Living here is 44% cheaper than the national average and 18% below the Alabama state average of 74. La Fayette is a small community of 2,665 residents.

Housing costs are the biggest factor in La Fayette's cost of living. The median monthly rent is $540 (59% below the US median of $1,319), and the median home value sits at $101,300 (67% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in La Fayette is $32,999, which is 56% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to La Fayette. The area sees an average annual temperature of 66.6°F, with summers averaging 82°F and winters around 50°F. Annual rainfall totals 48.8 inches spread over roughly 109 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.