The plane went down near a post office on Verot School Road.
An official said the aircraft that crashed early Saturday was an eight-passenger plane.
Those killed in the crash have been identified as McCord, Ian Biggs, Robert Crisp II, Gretchen Vincent and one teenaged passenger. There were also three people on the ground who were injured as a result of the crash.
Sports reporter Carley McCord died in the plane crash on the way to the Peach Bowl in Georgia.
Lafayette is about 209 kilometres west of New Orleans.
"We are devastated by the loss of such an awesome talent and valued member of our WDSU family", the post read. The driver of that auto has reportedly died, and another bystander was transported to a hospital in critical condition.
The plane skid through a parking lot, a field and the plane was engulfed in flames.
Local media reported eyewitnesses saying the plane may have hit a powerline before the crash.
Details of how the accident happened have not yet been confirmed, but according to witnesses, the plane hit a power line while trying to make an emergency landing.
Data from the National Weather Service showed weather conditions around the Lafayette Airport were foggy on Saturday morning with a listed visibility of 0.75 miles.
Our thoughts are with the family. The Walmart was evacuated as a precaution.
Many businesses and houses in the area are now without power.