The rising price of a typical single-family home or condo in Lafayette Parish is slightly outpacing annualized wage growth for buyers, data shows.
To buy a median-priced home in the parish would require 26.5% of annualized wages, which is up from its historic average of 22.5%, according to data released by real estate research firm ATTOM Data Solutions in its Home Affordability Report.
A typical wage earner in Lafayette Parish can still afford a home as the household income needed to buy a typical home was $55,033 and the average annualized wages for homeowners was at $58,097, data shows…