1st Advantage MortgageLafayette County households have a median income of $62,757 and median rent of $896 a month (ACS 2020 to 2024). A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Florida license first.
On this page
- Who lives in Lafayette County
- Jobs and commutes in Lafayette County
- Household income in Lafayette County
- Rent, home values and ownership in Lafayette County
- Lafayette County and the counties next door
- Lafayette County towns compared
- Debt-to-income at Lafayette County's medians
- People and households in Lafayette County
- Before borrowing in Lafayette County
- Lender oversight for Lafayette County
- Steps before you apply in Lafayette County
- More guides for Lafayette County
- Frequently asked questions
Who lives in Lafayette County
With an estimated 8,161 residents (ACS 2020 to 2024), Lafayette County ranks 66th of 67 in Florida for population. It covers 543 square miles of land, or about 15 people per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Of the 2 Census places inside Lafayette County, Mayo leads by population with about 1,147; 1 of the 2 are incorporated. Small populations mean wide margins of error, so read every Lafayette County figure on this page as a rough guide.
Jobs and commutes in Lafayette County
Education and health care employs 23% of working residents, the largest share; public administration is next with 15%. Public administration stands out: 15% of workers here, versus 4% statewide. ACS puts five-year average unemployment at 10.9% in Lafayette County. 25% of commuters travel 45 minutes or more each way, and 4% work from home.
| Industry (employed residents 16+) | Lafayette County | Gap to Florida |
|---|---|---|
| Education and health care | 23.3% | +2.3 pts |
| Public administration | 14.6% | +10.3 pts |
| Construction | 9.8% | +1.6 pts |
| Retail trade | 8.9% | -3.0 pts |
| Arts, lodging and food service | 8.4% | -2.6 pts |
| Manufacturing | 7.5% | +2.2 pts |
Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.
Household income in Lafayette County
Half of Lafayette County households take in less than $62,757 a year and half take in more, 16% below the Florida median of $74,568. Only 41 Florida counties post a higher median.
| Household income | Lafayette County | vs Florida |
|---|---|---|
| Under $35,000 | 31.2% | +8.9 pts |
| $35,000 to $99,999 | 47.1% | +6.0 pts |
| $100,000 to $199,999 | 19.7% | -6.0 pts |
| $200,000 or more | 2.1% | -8.9 pts |
About 31% of households earn under $35,000, while 22% clear $100,000. 17.5% of residents fall below the federal poverty line (statewide: 12.6%). The Gini index of income inequality is 0.406 (0 is perfect equality). Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.
Rent, home values and ownership in Lafayette County
A typical Lafayette County rental runs $896 a month including utilities, which is 46% below Florida. 45% of renting households spend 30% or more of income on rent, and 33% spend half or more. Home values center on $157,200, or 2.5 years of median income. The ownership rate is 77%. The median year built is 1990.
| Lafayette County | Florida | U.S. county median | |
|---|---|---|---|
| Median gross rent | $896/mo | $1,669/mo | $877/mo |
| Median home value | $157,200 | $359,000 | $185,300 |
| Owners | 77% | 68% | 75% |
| Rent-burdened renters | 45% | 60% | 45% |
| Burdened owners | 24% | 35% | n/a |
| Mobile homes | 37.5% | 8.0% | n/a |
In an owner-heavy county like Lafayette County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.
Lafayette County and the counties next door
The six counties whose centers lie closest to Lafayette County's, from 18 to 37 miles away. 1 of the six report a higher median household income than Lafayette County; Gilchrist County is highest at $63,523 and Madison County lowest at $48,485.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Lafayette County | - | $62,757 | $896/mo | 77% |
| Suwannee County, FL | 18 mi | $56,658 | $884/mo | 75% |
| Taylor County, FL | 28 mi | $49,073 | $988/mo | 76% |
| Gilchrist County, FL | 29 mi | $63,523 | $926/mo | 86% |
| Dixie County, FL | 30 mi | $50,110 | $695/mo | 85% |
| Madison County, FL | 36 mi | $48,485 | $874/mo | 73% |
| Columbia County, FL | 37 mi | $59,205 | $976/mo | 72% |
Lafayette County towns compared
The table lists the 2 largest of 2 Census places in Lafayette County, by population. Together all 2 hold about 1,494 people, so roughly 82% of residents live outside any named place. No Lafayette County place has a separate guide yet; this county page serves all 2.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Mayo | town | 1,147 | $54,375 | n/a | 4 mi |
| Day | CDP | 347 | n/a | n/a | 16 mi |
A CDP is a named community without its own municipal government.
Debt-to-income at Lafayette County's medians
Here is the Lafayette County median household run through a simple DTI check. Your numbers will differ.
- $5,230 a month: gross income for a household at the Lafayette County median
- Housing at the median rent of $896 uses 17%
- $987: what a 36% ratio leaves once rent is paid
If your rent is above $896, the room shrinks dollar for dollar.
People and households in Lafayette County
10% of Lafayette County adults 25 and older hold a bachelor's degree or more. About 9% go without health insurance.
| Measure | Lafayette County | Florida statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 42.3 | 42.6 | 41.5 |
| Bachelor's or higher | 9.9% | 34.1% | 22.2% |
| No high school diploma | 17.8% | 10.1% | n/a |
| No health insurance | 9.5% | 11.5% | 7.8% |
| No vehicle | 4.7% | 6.0% | 5.4% |
| Work from home | 4.1% | 15.7% | 8.7% |
| Poverty rate | 17.5% | 12.6% | 13.2% |
| Unemployment (ACS) | 10.9% | 4.8% | 4.4% |
| Minutes to work | Lafayette County workers |
|---|---|
| Under 15 min | 27.6% |
| 15 to 29 min | 17.1% |
| 30 to 44 min | 30.7% |
| 45 to 59 min | 12.7% |
| 60+ min | 12.0% |
Before borrowing in Lafayette County
Based on the Lafayette County data above, these borrowing questions are most likely to matter locally.
- Commuter costs. 25% drive 45 minutes or more. Compare shop financing with a loan, and keep a small repair fund.
- Mobile home upkeep. 37% of units fall in this category; roof, skirting and HVAC jobs are common reasons to borrow.
- Advance-fee offers. No legitimate lender asks a Lafayette County borrower to pay first (scam signs).
Lender oversight for Lafayette County
Consumer lenders serving Lafayette County are licensed by the state, not the county; in Florida that is the Florida Office of Financial Regulation. Problems with a lender can also go to the CFPB. See the Florida state guide for the statewide picture.
Steps before you apply in Lafayette County
Before you apply, wherever you live in Lafayette County:
- Write down what the expense costs; a smaller loan costs less.
- Collect three written offers and compare APR and total repaid.
- Confirm the lender is licensed in Florida.
- Read the final agreement; it must match the offer.
More guides for Lafayette County
For statewide rules and data, see the Florida guide.
Frequently asked questions
What does a typical Lafayette County household make?
About $62,757 a year at the median (ACS 2020-24), 16% below the Florida median.
Is Lafayette County expensive for renters?
Median rent is $896 against $1,669 statewide, and 45% of renter households are cost-burdened.
I live in a small Lafayette County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Mayo, Day.
Does my county matter to the questionnaire?
Only your state does. Whether you live in Lafayette County or elsewhere in Florida, the same rules apply.
Is there a Lafayette County office that licenses lenders?
No, licensing is statewide. In Florida it is the Florida Office of Financial Regulation.