Lawrence appreciation rates and housing market information
Lawrence housing market information
With a population of 88,727, 34,970 total housing units (homes and apartments), and a median house value of $165,490, Lawrence real estate is some of the most expensive in Kansas, although Lawrence home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Lawrence, accounting for 48.06% of the city's housing units. Other types of housing that are prevalent in Lawrence include large apartment complexes or high rise apartments (24.83%), duplexes, homes converted to apartments or other small apartment buildings (13.30%), and a few row houses and other attached homes (10.94%).
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 46.71% owning and 53.29% 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 1940-1969 (19.98%). A lesser amount of the housing stock also hails from between 2000 and later (17.01%). There's also some housing in Lawrence built before 1939 (10.78%).
Lawrence home appreciation rates
Lawrence's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lawrence during the period has been just -2.18%, which is lower than 80% of US communities.
Over the last year, Lawrence appreciation rates have trailed the rest of the nation. In the last twelve months, Lawrence's appreciation rate has been -4.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lawrence were at -0.49%, which equates to an annual appreciation rate of -1.93%.
Relative to Kansas, our data show that Lawrence's latest annual appreciation rate is lower than 90% of the other cities and towns in Kansas.
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 1990, to assist you in making the best Lawrence real estate investment or home purchase decisions.