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APC staff presents updated student‑rental study highlighting affordability, vacancy and voucher shortfalls
Summary
APC staff presented a revised student‑rental study that finds low vacancy in West Lafayette, rising rents outpacing incomes and a large unmet demand for housing‑choice vouchers; staff recommended updating the housing element and cross‑jurisdictional policy work.
APC staff presented an updated student‑rental and housing‑market report during the Feb. 19 meeting, summarizing vacancy trends, permit activity, rent burden by demographic groups, student survey results and voucher demand.
Why it matters: The report details affordability pressures in Tippecanoe County, emphasizes equity issues in who rents, and recommends a new housing element and targeted zoning and policy changes to expand housing options.
Key findings presented by Nathan McBurnett and Margaret Forns:
- Vacancy: West Lafayette’s multifamily vacancy rate was reported at 1.17% for the most recent survey period, the highest since 2018 but still low overall. Lafayette’s vacancy rate was near flat. Staff noted the vacancy data reflect a tight rental market.
- Permitting: Multifamily building permit activity declined about 34% in the most recent year compared with 2023, although large projects can create year‑to‑year volatility.
- Rent burden and demographics: Rent increases have outpaced income growth. Staff reported high rates of rentership among certain demographic groups in Tippecanoe County—including about 76% rentership among African American households and about 71% among Asian households—flagging a possible equity concern.
- Voucher demand: The Lafayette Housing Authority’s Housing Choice Voucher wait list is approximately the same size as the number of households that currently have vouchers, indicating voucher distribution meets roughly half of documented demand.
- Student perspective: Staff reported student survey results showing cost and affordability as primary concerns for Purdue student renters.
Staff recommendations and next steps
Nathan McBurnett said the county needs an updated comprehensive‑plan housing element (last updated in 2011) and suggested strategic zoning changes—such as revisiting accessory dwelling unit rules and evaluating the plan‑development pathway—to increase housing supply and affordability more quickly. McBurnett also urged cross‑jurisdictional coordination among West Lafayette, Lafayette and the county to address shared housing markets.
The report is available on APC’s website and staff encouraged councils and stakeholders to use the findings to guide short‑ and long‑term housing policy.
