WEST LAFAYETTE, Ind. — Think Purdue’s thriving Discovery Park District is only benefiting Purdue University?
It’s not the case. It is helping to grow Greater Lafayette’s economy and bringing in new jobs, leading to a relatively affordable housing market and a skilled, technology-based workforce.
Lafayette ranks #1 in the latest Wall Street Journal/Realtor.com Emerging Housing Market Index, Winter 2023. Purdue’s presence is a significant factor.
The WSJ/Realtor.com fourth quarter ranking, released Tuesday (January 31), shows Lafayette in first place, followed by two other Indiana communities: Fort Wayne and Elkhart. Topeka, Kansas, and Johnson City, Tennessee round out the top five.
The index identifies top metropolitan areas for homebuyers looking for a valued housing market, strong local economy, and attractive lifestyle amenities, according to the story. News Corp., parent company of the Wall Street Journal, operates Realtor.com.
By working with state and local leaders, Purdue has helped position the university and Greater Lafayette to become a national leader in the semiconductor industry. In December, university and local officials announced a Purdue-led project that will receive $5 million in funding through a Greater Lafayette Economic Development Initiative to support anticipated regional workforce demand in the promising semiconductor manufacturing industry. In the announcement, Purdue and Greater Lafayette officials revealed the seven regional READI (Indiana’s Regional Economic Acceleration and Development Initiative) projects that will share a total funding of $30 million.
The Discovery Park District at Purdue includes the likes of Saab, Rolls-Royce, major hypersonics facilities and partnerships, Schweitzer Engineering Laboratories, Wabash, MediaTek and others in the district, among the most attractive and innovative environments in the Midwest.
It all fits with the district’s $1 billion mixed-use development of housing, high-end manufacturing, and industry- and research-driven partnerships. The live-work-play community is for families, young professionals, and retirees excited about living near a college community and the vibrancy of its culture.
West Lafayette has a ranking of no. 8 for best cities and college towns in America. In compiling its 2022 list, WalletHub evaluated 415 communities in three key areas: wallet compatibility, social environment, and academic and economic opportunities.
Purdue has helped attract people to the area through its Work from Purdue initiative, a program that invites remote workers to live in the Discovery Park District at Purdue for its available affordable housing and collaborative energy and invigorating a campus with the flexibility of remote working.
According to the WSJ/Realtor.com article, the average December home sale price in Tippecanoe County, which includes Lafayette, was $243,000. That was up 13 percent from a year earlier, according to the Indiana Association of Realtors, but was still more than $100,000 below the national average existing home sales price of $366,900 for the same period.
About Purdue University
Purdue University is a leading public research institution developing practical solutions to today’s toughest challenges. Ranked in each of the past five years as one of the 10 most innovative universities in the United States by US News & World Report, Purdue offers world-changing research and out-of-this-world breakthroughs. Committed to real-world online and hands-on learning, Purdue offers a transformative education for all. Committed to affordability and affordability, Purdue has frozen tuition and most fees at the 2012-13 levels, allowing more students than ever to graduate debt-free. See how Purdue never stops in the persistent search for the next giant leap https://stories.purdue.edu.
Writer/Media Contact: Jim Bush, [email protected]
