Lawrence, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Lawrence, IN Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lawrence Housing Market Information

With a population of 48,704, 18,464 total housing units (homes and apartments), and a median house value of $196,035, Lawrence real estate is some of the most expensive in Indiana, 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 63.24% of the city's housing units. Other types of housing that are prevalent in Lawrence include large apartment complexes or high rise apartments ( 16.92%), mobile homes or trailers ( 11.93%), and a few row houses and other attached homes ( 4.74%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lawrence. Owner-occupied housing accounts for 65.07% of Lawrence's homes, and 61.50% have either three or four bedrooms, which is average sized relative to America.

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 ( 22.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.28%). There's also some housing in Lawrence built before 1939 ( 3.36%).

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 18.40%, which ranks in the top 50% nationwide. This equates to an annual average Lawrence house appreciation rate of 1.70%.

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 9.28%, which is higher than appreciation rates in 88.36% 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 0.48%, which equates to an annual appreciation rate of 1.93%.

Notably, Lawrence's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Indiana, our data show that Lawrence's latest annual appreciation rate is higher than 80% 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.

Average Home Values

 

Median Home Value:
$196,035

Lawrence, IN HOME PRICES

Value Range
> $1,191,000 0.5
$893,001 - $1,191,000 0.3
$595,001 - $893,000 1.5
$476,001 - $595,000 0.9
$357,001 - $476,000 4.0
$238,001 - $357,000 11.6
$119,001 - $238,000 44.7
$60,001 - $119,000 19.9
$0 - $60,000 16.6

Very High for IN
High for Nation

Value Relative to Nation Value Relative to State
39.036496350365 14.7058823529412

Number Of Homes And Apartments:
18,464

Lawrence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2018 Q3 - 2018 Q4
Last 12 Months:
2017 Q4 - 2018 Q4
Last 2 Years:
2016 Q4 - 2018 Q4
Last 5 Years:
2013 Q4 - 2018 Q4
Last 10 Years:
2008 Q4 - 2018 Q4
Since 2000:
2000 Q1 - 2018 Q4
17.38% 0.84%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,130 / per month

Homeownership Rate

Homeownership
Owners 65.07
Renters 34.93
Vacant 8.56

Housing Market Details

 

Age of Homes

AGE OF Lawrence HOMES
2000 or Newer 22.6
1970 - 1999 51.7
1940 - 1969 22.3
1939 or Older 3.4

Types of Homes

TYPE OF Lawrence HOMES
Single-Family 63.2
Townhomes 4.7
Small Apt. Buildings 3.1
Apt. Complexes 16.9
Mobile Homes 11.9
Other 0.1

Home Size

SIZE OF Lawrence HOMES
No Bedroom 1.85
1 Bedroom 8.91
2 Bedrooms 23.68
3 Bedrooms 41.50
4 Bedrooms 20.00
5 or more bedrooms 4.05