Market Overview
Home Prices in Lafayette Township, NJ
The median home value in Lafayette Township, NJ is $490,456 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.3% compared to a year ago and up 1.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lafayette Township are priced20% above average. Lafayette Township is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Lafayette Township home values have risen by approximately28.5%, reflecting strong long-term appreciation in this market.
Price History
Lafayette Township Home Price Trend
City Comparison
Lafayette Township vs. National Median
At $490,456, homes in Lafayette Township cost 20% above the national median of $410,000. Buyers in Lafayette Township should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Lafayette Township?
20% Down Payment
$98,091
on $490,456
Monthly P&I
$2,558/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,249/mo
incl. taxes & insurance
Income Needed
$129,960
gross annual (30% rule)
10% Down Option
$49,046
+ PMI applies
Loan Amount (20% dn)
$392,365
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lafayette Township, NJ?
The median home value in Lafayette Township is $490,456 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.3% year-over-year.
How much have home prices changed in Lafayette Township?
Over the past year, home values in Lafayette Township have increased by 3.3%. Over five years, prices have risen approximately 28.5%.
How much do I need to earn to buy a home in Lafayette Township?
To comfortably afford the median home price of $490,456 with a 20% down payment ($98,091) at today's rates (6.8%), you'd need a gross annual income of approximately $129,960. This assumes keeping total housing costs at or below 30% of gross income.
How does Lafayette Township compare to the national average home price?
The national median home value is approximately $410,000. At $490,456, homes in Lafayette Township are 20% above the national average.
What metro area is Lafayette Township part of?
Lafayette Township is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.