Over the past decade (2011 to 2021), 5,838 housing permits have been issued to build single-family homes relative to the 5,703 housing permits issued for 5-or-more family units. The population of greater Lafayette is increasing at a rate of .95% each year. Its part of our principles to really put an emphasis on bringing in new talent and diversity. Median Home Value (3BR, 2BA) $196,849. And I definitely like the fall. Permission to use the material is encouraged, but please email us at [email protected] to indicate you will be using the material and in what other publications. 2023-07-08 2023-09-02 Wabash Riverfest <p>Join us for the Annual Wabash Riverfest!<br>Wabash Riverfest has been celebrating the Wabash River since 2001, and is Greater Lafayette's annual celebration of the longest free-flowing river in the eastern United States. These trends are following predictions and the expected trends. It is predicted that the labor force will continue to slowly grow and unemployment rates will stay in the upper 1% to lower 2% range which indicates full employment. Take care with this statistic. Greater Lafayette isone of the top housing markets in the United States, according to the Emerging Housing Markets Index, a collaborative effort between The Wall Street Journal and Realtor.com. Thank you for reading! The PCPI gap between the Lafayette MSA and nation widened between 2018 and 2019; at 67.5% of the national figure, it falls short by $19,346. Despite the logistical hurdles that COVID-19 created, the couple believed the Greater Lafayette community would be an easy place to call home after Matt accepted the position. Language links are at the top of the page across from the title. Click the Quick Info icon to the left of each row in TABLE view to learn about sampling error. Sectors that had the largest wage growth in percentage terms were professional, scientific and technical services (18%); manufacturing (16.2%); and information (16.0%). Even more compelling was the opportunity to continue her work at PurduesMaurice J. Zucrow Laboratories, the worlds largest academic propulsion lab. The 2021-2024 projection for the MSAs total personal income shows a 5.6% annual growth. No data available We were unable to display data for this section. As of September 2022, the Lafayette MSA was averaging nearly 110,000 individuals participating in the labor force (January through September, not seasonally adjusted). *January through September data annualized for 2021. If youd given me a whole list of hundreds of places where it was like, Hey, youll end up here for the next five to 10 years, Indiana would never have made it onto the list.. One project that garnered much support includes plans to build and connect trails systems along the areas rivers. United Nations population projections are also included through the year 2035. About In 2020, Lafayette, LA had a population of 127k people with a median age of 36.4 and a median household income of $54,139. Chandra Whippen wanted to find a way to combine veterinary medicine knowledge and IT skills. That is actually one of the things that I like about West Lafayette theres variety.. We are seeing increasing entry-level wages, which may entice individuals to enter the labor force. The presence of Purdue University and its related economic activity, in addition to the regions strong economic base, has allowed the MSA to grow over the years. A community that was under 500 people in 1860 had grown to over 14,000 by 1930. Then reading more about the group here, both the USDA researchers and the Purdue faculty, it turns out there were several people that I already very highly respected, and that I potentially was going to be able to work with. Its just a little different because theres more space here, theres more time, so thats a nice benefit compared to where Im from. We dont have to worry about, Oh gosh, how are we going to get downtown? There was a problem saving your notification. Learn why The Wall Street Journal and Realtor.com ranked Greater Lafayette among the top housing markets in the United States. Lafayette is a city located in Contra Costa County California. West Lafayette had more than twice that share (24.3%), according to U.S . As of September 2021, the year-to-date figures for the real estate market in the Lafayette MSA marked modest changes in its number of listings (1.3%), quantity of closed sales (4.2%) and inventory of homes for sale (-3.5%), as shown in Table 4. Language links are at the top of the page across from the title. Source: Indiana Association of Realtors and Realtor.com Economic Research. The variability in costs may negatively impact the number of housing permits issued in 2022 as well, but that may be overridden by strong demand depending on the ability of individuals to afford building a new home. Given the strong rebound in the service-providing sectors to recoup their 2020 losses, it is estimated that the growth will be realized more evenly in 2022 in both the goods-producing (manufacturing and construction) and service-providing sectors. The vast majority of the population in the Lafayette MSA (defined in this article as Tippecanoe, Benton and Carroll counties unless otherwise noted)2 resides in Tippecanoe County (187,076 residents or 86.5% of the metro population), followed by Carroll County with its 20,444 residents.3 Despite the strong population contraction during 2020 and 2021 (likely related to COVID-19), the Lafayette MSA grew by 11,441 people (+5.6%) between 2011 and 2021. Currently, the housing market is slowing down and this is expected to continue in the near future. the .gov website. Estimates are not comparable to other geographic levels due to methodology differences that may exist between different data sources. In 2010,[16] the U.S. Census Bureau reported there were 273,738 people, 89,536 households, and 61,826 families residing within metropolitan Lafayette. You could Google our company and see theres a lot of diverse people that were hiring, he says. The area began 2021 with 109,230 in the labor force and has seen that number grow to 112,292 individuals. 3.01% of residents are not US citizens. Ive seen some towns that, in the past, they were not growing. Figure 1: Annual Lafayette MSA population. Another project proposed a new passenger terminal at Purdue University Airport to help bring commercial air service back to the Greater Lafayette area. At the 2020 U.S. census, 478,384 people lived in the metropolitan area,[1] making it the 116th most populous in the United States and one of Louisiana's fastest growing metropolises; in 2010, its population was 273,738 and it outpaced the ShreveportBossier City metropolitan area in 2015.[2]. When we saw this place, we said, You know, were not going to go for all the easy stuff, were going for the nice house thats like 110 years old thats actually really pretty, Zach says. As of 2017, immigrant-owned businesses accounted for $1.3 trillion in total sales. I cannot agree with the economic benefits more. The approximately 3,408.5 square miles (8,828km2) metropolitan area centers on Lafayette Parish, which contains the city of Lafayettethe largest economic and cultural center of Acadianawith a consolidated city-parish population of 244,390 in 2019;[3] the city proper's population was 121,374 in 2020. To activate digital access, you will need the phone number listed on your account. World Vision U.S. competitors include World Relief, World Concern, United Way of Greater Lafayette . The couple agrees that vibrancy is especially noticeable when they go out to eat. Checking back? The preliminary 2022 housing permits data also show a decreased number of permits issued. Ive seen that in person., The Wall Street Journal and Realtor.comsEmerging Housing Markets Indexplaced a similar premium on diversity by including a communitys share of foreign-born residents in its formula identifying the best places in the U.S. to own a home and reside. These experiences influenced my interest in researching how food, Securing career promotions after earning a Purdue Global MBA. The Lafayette MSA had a 1.3% growth in its per capita personal income (PCPI) between 2018 and 2019. [18] At the publication of the 2020 United States census, its metropolitan population was 478,384. Amy Boyle knew that moving forward in her career meant being responsible for individuals at increasingly higher levels. Nationally, the housing market is expected to continue to see rising prices, albeit at a slightly slower pace. secure websites. As outdoor enthusiasts, the couple found an ideal home in Battle Ground that features access to the Tippecanoe River and two acres for their standard poodles, Rudy and Ferdinand, to patrol. If construction employers are able to find workers, their growth could outpace manufacturing, given the strong demand for housing in the Lafayette MSA. Since 2021 Q1, there has been a 6.2% change in total jobs and an astounding 7.7% increase in average weekly wages (see Table 3). Looking forward into 2023, given the projected slowing down of the labor market, it is projected that the average weekly wage will increase marginally, perhaps in the 1% range. Because the costs are low enough, and within a 20-minute drive it starts getting very dark because of the cornfields, I can now explore that opportunity. Lafayette is a city located in Lafayette Parish Louisiana. The unemployment rate was at 3.0%, a lower rate than Indiana (3.5%) and the nation (4.6%). In 1823, the St. Martin parish was divided, and the Lafayette parish was born. Agriculture was a primary driver of the economy during the citys earliest days, but petroleum and national gas industries grew in importance during the 1940s. In the first nine months of 2022, the MSA saw an increase of 3,022 jobs, or 3.0% growth, from the 2021 annual average. An email has been sent to with a link to confirm list signup. & rem. Conversely, moving to a small town in Indiana requires a lifestyle adjustment for those accustomed to the trappings of a big-city environment. Note: Data reflect January to September for both years. Recent estimates show that the population has grown by almost 6% since the 2010 census. 85: Purdue Research Series | A Look Into Semiconductors With Mark Lundstrom, In this episode of This Is Purdue, were featuring the first guest in our Purdue Research Series, Mark Lundstrom, Purdue Universitys chief semiconductor officer. Of those not born in the United States, the largest percentage are from Asia. Privacy Notice, 98 years of economic insights for Indiana, SmartAsset again names greater Lafayette best place in nation for career opportunity; Fort Wayne places 9th, https://www.dws.state.nm.us/Portals/0/DM/LMI/So_Which_Employment_Numbers_Do_You_Use.pdf, Affordability concerns weigh on Indiana housing market outlook for 2023, Financial markets in 2023: Aggregate demand and inflation, Indianapolis-Carmel-Anderson forecast 2023, Professional, scientific, and technical services, Agriculture, forestry, fishing and hunting, Other services (except public administration), Admin. Those research opportunities might not have been enough to convince McClain to remain at Purdue if not for her increased comfort living in Greater Lafayette. In addition, they liked Greater Lafayettes small-town vibe mixed with the entertainment opportunities available in the region. Employees at Population Services International earn the highest average yearly salary of $69,060. Im able to spend a lot more time on my business because I was commuting over an hour in Boston. Lafayette is currently growing at a rate of 0.04% annually and its population has increased by 0.11% since the most recent census, which recorded a population of 70,809 in 2020. There are 100,373 adults, (19,736 of whom are seniors) in Lafayette. More Cost of Living or Compare Lafayette's Cost of Living. Lafayette was planned in 1821 and was initially called St. Jean du Vermilionville, which was shortened to simply Vermilionville. Success! Looking ahead to 2023, current economic conditions are signaling a more tepid growth due to pressures from inflation and rising costs for both goods and labor. The average household income in Lafayette is $78,055 with a poverty rate of 21.43%. Instead, they fell in love with a charming place that crossed off only one of the boxes on their initial checklist: It was a beautiful home. Measuring America's People, Places, and Economy, Population Estimates, July 1, 2022, (V2022), Population estimates base, April 1, 2020, (V2022), Population, percent change - April 1, 2020 (estimates base) to July 1, 2022, (V2022), American Indian and Alaska Native alone, percent, Native Hawaiian and Other Pacific Islander alone, percent, White alone, not Hispanic or Latino, percent, Owner-occupied housing unit rate, 2017-2021, Median value of owner-occupied housing units, 2017-2021, Median selected monthly owner costs -with a mortgage, 2017-2021, Median selected monthly owner costs -without a mortgage, 2017-2021, Living in same house 1 year ago, percent of persons age 1 year+, 2017-2021, Language other than English spoken at home, percent of persons age 5 years+, 2017-2021, Households with a computer, percent, 2017-2021, Households with a broadband Internet subscription, percent, 2017-2021, High school graduate or higher, percent of persons age 25 years+, 2017-2021, Bachelor's degree or higher, percent of persons age 25 years+, 2017-2021, With a disability, under age 65 years, percent, 2017-2021, Persons without health insurance, under age 65 years, percent, In civilian labor force, total, percent of population age 16 years+, 2017-2021, In civilian labor force, female, percent of population age 16 years+, 2017-2021, Total accommodation and food services sales, 2017 ($1,000), Total health care and social assistance receipts/revenue, 2017 ($1,000), Total transportation and warehousing receipts/revenue, 2017 ($1,000), Mean travel time to work (minutes), workers age 16 years+, 2017-2021, Median household income (in 2021 dollars), 2017-2021, Per capita income in past 12 months (in 2021 dollars), 2017-2021, Total employment, percent change, 2020-2021, Men-owned employer firms, Reference year 2017, Women-owned employer firms, Reference year 2017, Minority-owned employer firms, Reference year 2017, Nonminority-owned employer firms, Reference year 2017, Veteran-owned employer firms, Reference year 2017, Nonveteran-owned employer firms, Reference year 2017. Because of the nature of his training as an animal science researcher, Jorgensen has long expected to work at large, land-grant universities. This equates to nearly 2,300 new residents per year in Tippecanoe County. Wed hoped one day to get there, West Lafayette Mayor John Dennis said. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. Some estimates presented here come from sample data, and thus have sampling errors that may render some apparent differences between geographies statistically indistinguishable. ] 86 Susan Edgell Discusses How Her Mother, Virginia Ferris, Became the First Woman Appointed to Purdue Agriculture Faculty, In this episode of This Is Purdue, were talking to Susan Edgell, the daughter of Purdue University trailblazer Virginia Ferris. First quarter 2022 wage data is the most recent information we have at the time of this writing. With a little one on the way, Jorgensen and Sis face an entirely new set of community considerations. By car, they can be there even sooner. Those in the labor force have been able to find work, as is evidenced by the 2.0% unemployment rate, which is lower than both the Indiana rate (2.2%) and the national rate (3.3%). Over the past decade (2010-2020), the Lafayette MSA has grown by 24,500 people or 12.2%. Its a nice place to walk, and Ive taken some really nice photos there. 2000 Mbps. COST OF LIVING Compared to the rest of the country, Lafayette's cost of living is 20.6% lower than the U.S. average. Thank you for reading! Download Historical Data Save as Image Data Source: United Nations - World Population Prospects MLA Citation: 2010-2023 Macrotrends LLC | This is being driven by low mortgage rates and standards, an ongoing inventory shortage and the work-from-home trend driving individuals to purchase homes instead of renting near their places of employment. As of September 2021, its worth noting that the region is only 2,500 individuals away from the number of employed individuals in November 2019, when the region had an unemployment rate of 2.8%. Bazaars were held to raise money, and all day picnics were convened to bring in donations. We hope that you continue to enjoy our free content. QuickFacts provides statistics for all states and counties, and for cities and towns with a population of 5,000 or more. Another key factor was that she developed a reliable social circle and identified local activities that make living in the area more enjoyable. We have much bigger gardens than weve ever had in our lives, says Wendy, who completed a PhD at theUniversity of Londons Royal Veterinary Collegein 2016. Not only does it have way more space and its way cheaper, but its also completely finished as we would want it, Wendy says. Thank you for reading! . Located along the Gulf Coast of the United States, it borders the Lake Charles metropolitan area, and is located south of the Alexandria metropolitan area, and west of Greater New Orleans and Greater Baton Rouge. The majority of Indiana's cities are designated as third-class and have a city council and clerk-treasurer as part of their government. Manufacturing and fabrication are essential industries in Lafayette, with employers including Franks Casing Crew and CIS Hammers. ) or https:// means youve safely connected to 91.56% of Lafayette residents speak only English, while 8.44% speak other languages. In the first nine months of 2021, the MSA saw an increase of 2,700 jobs, or 2.8% growth. Expert Solution Trending now This is a popular solution! The Lafayette-West Lafayette, Indiana Metropolitan Statistical Area, as defined by the United States Census Bureau, is an area consisting of three counties in Indiana, anchored by the cities of Lafayette and West Lafayette. Nationally, the 2021 PCPI was $64,143 (a jump from $59,765 in 2020); the region consistently lags behind the nations PCPI due to a different occupational mix and lower pay scales at the highest-earning tiers. The requests from each of Indianas 92 counties total more than $1 billion twice the $500 million allocated for the program. From 2010 to 2015, the Lafayette metropolitan area outpaced the ShreveportBossier City metropolitan area in North Louisiana by population, becoming the third largest metropolitan area in the state. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. The Lafayette metropolitan area covers approximately 3,408.5 square miles (8,828km2) in the region of Acadiana in Louisiana. West Lafayette has a population of 31,079 residents.