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 49,370, 18,721 total housing units (homes and apartments), and a median house value of $231,738, 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 64.23% of the city's housing units. Other types of housing that are prevalent in Lawrence include large apartment complexes or high rise apartments ( 15.46%), mobile homes or trailers ( 11.87%), and a few row houses and other attached homes ( 5.14%).
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 64.86% owning and 35.14% 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 ( 24.43%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.53%). There's also some housing in Lawrence built before 1939 ( 3.92%).
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 61.62%, which ranks in the top 40% nationwide. This equates to an annual average Lawrence house appreciation rate of 4.92%.
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 15.06%, which is higher than appreciation rates in 72.91% 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 6.05%, which equates to an annual appreciation rate of 26.47%.
Relative to Indiana, our data show that Lawrence's latest annual appreciation rate is higher than 90% 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 for Nation
Very High for IN