Lawrence appreciation rates and housing market information
Lawrence housing market information
With a population of 89,180, 34,970 total housing units (homes and apartments), and a median house value of $169,818, 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 47.40% of the city's housing units. Other types of housing that are prevalent in Lawrence include large apartment complexes or high rise apartments (25.29%), duplexes, homes converted to apartments or other small apartment buildings (13.22%), and a few row houses and other attached homes (11.12%).
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 (19.33%). A lesser amount of the housing stock also hails from between 2000 and later (18.14%). There's also some housing in Lawrence built before 1939 (10.16%).
Lawrence home appreciation rates
Appreciation rates for homes in Lawrence have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 25.89%, which ranks in the top 30% nationwide. This equates to an annual average Lawrence house appreciation rate of 2.33%.
NeighborhoodScout's data show that during the latest twelve months, Lawrence's appreciation rate, at 3.47%, has been at or slightly above the national average. In the latest quarter, Lawrence's appreciation rate has been 1.07%, which annualizes to a rate of 4.34%.
Relative to Kansas, our data show that Lawrence's latest annual appreciation rate is higher than 80% 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.