Lawrence, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lawrence, MA Real Estate Data


Lawrence Housing Market Information

With a population of 80,231, 26,328 total housing units (homes and apartments), and a median house value of $270,015, Lawrence real estate prices are well above average cost compared to national prices.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Lawrence, accounting for 49.65% of the city's housing units. Other types of housing that are prevalent in Lawrence include large apartment complexes or high rise apartments ( 26.17%), single-family detached homes ( 16.75%), and a few row houses and other attached homes ( 6.64%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

Lawrence is dominated by renter-occupied one, two, or no bedrooms apartments. 72.35% of Lawrence's dwellings are rentals.

The housing in Lawrence was primarily built before 1939 ( 50.57%), making the housing stock in Lawrence some of the oldest overall in America, although there is a range of ages of homes in Lawrence. The next most important housing age is between 1940-1969 ( 24.32%), followed by between 1970-1999 ( 20.74%). There's also some housing in Lawrence built between 2000 and later ( 4.37%).

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 -1.30%, which is lower than 80% of US communities.

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 7.17%, which is higher than appreciation rates in 86.04% 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 1.57%, which equates to an annual appreciation rate of 6.42%.

Relative to Massachusetts, our data show that Lawrence's latest annual appreciation rate is higher than 90% of the other cities and towns in Massachusetts.

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:
$270,015

Lawrence, MA HOME PRICES

Value Range
> $1,276,000 0.0
$957,001 - $1,276,000 0.7
$638,001 - $957,000 0.9
$510,001 - $638,000 3.2
$383,001 - $510,000 11.8
$255,001 - $383,000 35.0
$128,001 - $255,000 40.4
$64,001 - $128,000 4.7
$0 - $64,000 3.2

Low for MA
High for Nation

Value Relative to Nation Value Relative to State
20.2611699947298 78.8461538461538

Number Of Homes And Apartments:
26,328

Rent & Ownership

 

Average Market Rent:
$1,178 / per month

Homeownership Rate

Homeownership
Owners 27.65
Renters 72.35
Vacant 5.60

Housing Market Details

 

Age of Homes

AGE OF Lawrence HOMES
2000 or Newer 4.4
1970 - 1999 20.7
1940 - 1969 24.3
1939 or Older 50.6

Types of Homes

TYPE OF Lawrence HOMES
Single-Family 16.7
Townhomes 6.6
Small Apt. Buildings 49.7
Apt. Complexes 26.2
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Lawrence HOMES
No Bedroom 3.96
1 Bedroom 15.30
2 Bedrooms 31.29
3 Bedrooms 40.38
4 Bedrooms 7.24
5 or more bedrooms 1.83

Lawrence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
58.64% 2.75% 8 7
* 10 is highest