Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 49,276, 18,993 total housing units (homes and apartments), and a median house value of $252,005, Lawrence real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Lawrence, accounting for 64.58% of the city's housing units. Other types of housing that are prevalent in Lawrence include large apartment complexes or high rise apartments ( 17.97%), mobile homes or trailers ( 10.20%), and a few row houses and other attached homes ( 4.49%).
The most prevalent building size and type in Lawrence are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.49% owning and 35.51% renting.
There is a lot of housing in Lawrence built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lawrence built between 2000 and later ( 26.12%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.23%). There's also some housing in Lawrence built before 1939 ( 3.49%).
In the last 10 years, Lawrence has experienced some of the highest home appreciation rates of any community in the nation. Lawrence real estate appreciated 129.77% over the last ten years, which is an average annual home appreciation rate of 8.68%, putting Lawrence in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lawrence definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Lawrence that despite a nationwide downturn in the housing market, Lawrence real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lawrence appreciation rates continue to be some of the highest in America, at 12.26%, which is higher than appreciation rates in 74.10% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lawrence. Lawrence appreciation rates in the latest quarter were at 2.54%, which equates to an annual appreciation rate of 10.54%.
Relative to Indiana, our data show that Lawrence's latest annual appreciation rate is higher than 60% of the other cities and towns in Indiana.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lawrence differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lawrence - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lawrence real estate investment or home purchase decisions.
$252,005
for Indiana
for nation
18,993
$1,811 / per month