Lafayette, VA
Population 528 · Virginia
About Lafayette, VA
Lafayette is a small community located in Virginia with a population of 528 residents according to the latest US Census Bureau American Community Survey data. The median household income is $32,210 per year, which is 57% below the national median of $75,149. The median age of 42.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lafayette features a median home value of $0, which is 100% below the national median of $244,900. This makes Lafayette one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 257 total housing units, 89% are owner-occupied (203 units) and 11% are renter-occupied (24 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lafayette shows an unemployment rate of 60.5%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 31.4%, above the national average of 12.4%. Workers in Lafayette have an average one-way commute time of 27.3 minutes.
Education & Demographics
16.1% of Lafayette residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 12.3% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 7.8% of the population being foreign-born.
Cost of Living in Lafayette, VA
Compared to national averages, Lafayette has a median household income of $32,210 (57% below the national median of $75,149). Home values average $0, which is 100% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Virginia, Lafayette's income is 63% below the state average of $87,957, and home values are 100% below the state median of $327,514.
Why Live in Lafayette, VA?
Lafayette offers affordable housing with a median home value of $0, below the US average of $244,900, and rent that’s lower than the national average at $0/month.
Potential considerations include median household income ($32,210) that falls below the national average. However, Lafayette’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lafayette has a population of 528 with a median age of 42.3 years. Compare Lafayette with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Lafayette
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Seven Mile Ford | 528 | $27,716 | $152,700 | Compare |
| Keezletown | 529 | $61,250 | $336,900 | Compare |
| Bland | 526 | $68,333 | $156,500 | Compare |
| La Crosse | 530 | $35,938 | $105,000 | Compare |
| Mount Crawford | 531 | $97,583 | $274,000 | Compare |
| Unionville | 534 | $0 | $228,800 | Compare |
| Haysi | 537 | $28,750 | $80,000 | Compare |
| The University of Virginia's College at Wise | 538 | $0 | $0 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lafayette With Other Cities
Frequently Asked Questions about Lafayette
What is the population of Lafayette, VA?
The population of Lafayette, VA is 528 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Virginia.
What is the median household income in Lafayette?
The median household income in Lafayette, VA is $32,210 per year, which is 57% below the national median of $75,149.
What is the median home value in Lafayette?
The median home value in Lafayette, VA is $0, which is 100% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lafayette?
The median monthly rent in Lafayette, VA is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Lafayette?
The unemployment rate in Lafayette, VA is 60.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lafayette, VA a good place to live?
Lafayette offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 528 and a median age of 42.3, the city appeals to a broad range of residents.
How educated is Lafayette, VA?
16.1% of residents in Lafayette aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Lafayette?
Key cost-of-living indicators for Lafayette, VA: median home value is $0 (100% below national), median rent is $0/month, and median household income is $32,210. The home-value-to-income ratio is 0.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lafayette?
The poverty rate in Lafayette, VA is 31.4%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Lafayette, VA?
Lafayette's population is 12.3% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 7.8% of residents are foreign-born.