What is the median household income in Lafayette Township (Madison County), IN?
The median household income in Lafayette Township (Madison County), IN is $63,857 (±$11,660) a year (2020–2024 American Community Survey).
Paying the median gross rent of $748 a month would take about $29,900 a year at the common guideline of spending no more than 30% of income on rent.
In Lafayette Township (Madison County), the median household income went from $52,407 in 2015–2019 to $63,857 in 2020–2024 (+21.8%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- Median household income
- $63,857 (±$11,660)
- Median renter income
- $31,107 (±$18,232)
- Income to afford median rent
- about $29,900
Income in Lafayette Township (Madison County) against Madison County, its state and the nation
| Lafayette Township (Madison County) | Madison County | Indiana | United States | |
|---|---|---|---|---|
| Median household income | $63,857 (±$11,660) | $63,037 (±$2,053) | $71,957 (±$352) | $80,734 |
| Median renter household income | $31,107 (±$18,232) | $36,650 (±$4,568) | $42,811 (±$480) | $52,966 |
| Median owner household income | $71,176 (±$11,818) | $75,613 (±$1,591) | $87,459 (±$395) | $100,009 |
| Median gross rent | $748 (±$93) | $939 (±$24) | $1,062 (±$5) | $1,413 |
In Lafayette Township (Madison County), median household income is not measurably different from Madison County ($63,037).
It is not measurably different from Indiana ($71,957).
It is lower than the national figure ($80,734).
In Madison County, Lafayette Township (Madison County) ranks 20 of 28 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 995 of 1,568.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How much you need to earn to rent in Lafayette Township (Madison County)
Many landlords and housing programs use 30% of gross income as the most a household should spend on rent.
At that guideline, the median gross rent of $748 a month ($8,976 a year) needs an income of about $29,900 a year.
The median renting household in Lafayette Township (Madison County) earns $31,107 a year.
This is arithmetic on the published medians, not a rule any landlord must follow; screening criteria vary and some places limit how income may be weighed.
Income against housing costs since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median household income | $52,407 (±$6,212) | $63,857 (±$11,660) | +21.8% | No measurable change after inflation |
| Median gross rent | $742 (±$113) | $748 (±$93) | +0.8% | No measurable change after inflation |
| Median home value | $87,100 (±$3,601) | $153,800 (±$10,630) | +76.6% | Up after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median household income in places near Lafayette Township (Madison County)
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Lafayette Township (Madison County) | — | $63,857 (±$11,660) | — |
| Frankton | 3.8 mi | $68,611 (±$11,833) | Not measurably different |
| Country Club Heights | 4.2 mi | $110,000 (±$89,825) | Not measurably different |
| Woodlawn Heights | 4.4 mi | $110,000 (±$44,743) | Not measurably different |
| Edgewood | 5.1 mi | $87,770 (±$10,775) | Higher |
| Jackson Township (Madison County) | 5.3 mi | $101,908 (±$28,738) | Higher |
| Richland Township (Madison County) | 5.6 mi | $63,901 (±$7,799) | Not measurably different |
| Pipe Creek Township (Madison County) | 5.9 mi | $62,835 (±$7,428) | Not measurably different |
| Anderson | 6.4 mi | $46,909 (±$2,013) | Lower |
Nearby places with a measurably lower figure: Anderson, IN ($46,909).
Nearby places with a measurably higher figure: Edgewood, IN ($87,770), Jackson Township (Madison County), IN ($101,908).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Madison County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 14 | Union Township (Madison County) | $75,795 (±$3,212) |
| 15 | Ingalls | $74,236 (±$9,222) |
| 16 | Frankton | $68,611 (±$11,833) |
| 17 | Monroe Township (Madison County) | $67,409 (±$13,196) |
| 18 | Alexandria | $64,317 (±$10,327) |
| 19 | Richland Township (Madison County) | $63,901 (±$7,799) |
| 20 | Lafayette Township (Madison County) | $63,857 (±$11,660) |
| 21 | Pipe Creek Township (Madison County) | $62,835 (±$7,428) |
| 22 | Chesterfield | $58,824 (±$10,825) |
| 23 | Van Buren Township (Madison County) | $56,250 (±$12,136) |
| 24 | Elwood | $53,280 (±$3,126) |
| 25 | Summitville | $52,946 (±$9,308) |
| 26 | Anderson Township (Madison County) | $48,653 (±$1,882) |
Showing 13 of 28 places in Madison County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Lafayette Township (Madison County)
What is the median household income in Lafayette Township (Madison County)?
The median household income in Lafayette Township (Madison County) is $63,857 (±$11,660) a year (2020–2024 American Community Survey).
How much do you need to make to afford rent in Lafayette Township (Madison County)?
About $29,900 a year, if rent is to stay at or below 30% of income at the median gross rent of $748 a month.
Have incomes in Lafayette Township (Madison County) kept up with inflation?
In Lafayette Township (Madison County), the median household income went from $52,407 in 2015–2019 to $63,857 in 2020–2024 (+21.8%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
What do renters earn in Lafayette Township (Madison County)?
The median renting household in Lafayette Township (Madison County), IN earns $31,107 (±$18,232) a year.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Lafayette township, Madison County, Indiana
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Lafayette township, Madison County, Indiana
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Lafayette township, Madison County, Indiana
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Lafayette township, Madison County, Indiana
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Lafayette township, Madison County, Indiana
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Lafayette township, Madison County, Indiana
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Lafayette township, Madison County, Indiana (county subdivision:40752, in state:18 county:095).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B19013_001E, B19013_001M, B25064_001E, B25064_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP03_0062E, DP03_0062M, B25119_003E, B25119_003M, B25119_002E, B25119_002M, DP04_0134E, DP04_0134M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
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- Renters and owners in Lafayette Township (Madison County)
- Home values in Lafayette Township (Madison County)
- Homeowner costs in Lafayette Township (Madison County)
- Property taxes in Lafayette Township (Madison County)
- Types of homes in Lafayette Township (Madison County)
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- Age of homes in Lafayette Township (Madison County)
- Heating fuel in Lafayette Township (Madison County)
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- Population growth in Lafayette Township (Madison County)
- How long people stay in Lafayette Township (Madison County)
- Indiana landlord and tenant rules
- Housing across Madison County
- Indiana places ranked by median household income
- Housing data for every place in Indiana