Lawrence, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lawrence Neighborhoods Since 2000




Lawrence, MA 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (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 80,231, 26,494 total housing units (homes and apartments), and a median house value of $278,126, 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 48.52% of the city's housing units. Other types of housing that are prevalent in Lawrence include large apartment complexes or high rise apartments ( 26.55%), single-family detached homes ( 17.37%), and a few row houses and other attached homes ( 6.86%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Lawrence is dominated by renter-occupied one, two, or no bedrooms apartments. 72.09% of Lawrence's dwellings are rentals.

The housing in Lawrence was primarily built before 1939 ( 53.11%), 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 ( 23.31%), followed by between 1970-1999 ( 18.88%). There's also some housing in Lawrence built between 2000 and later ( 4.69%).

Lawrence Home Appreciation Rates

Real estate appreciation rates in Lawrence's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.61% during the period.

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 9.50%, which is higher than appreciation rates in 92.34% 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 1.07%, which equates to an annual appreciation rate of 4.36%.

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:
$278,126

Lawrence, MA HOME PRICES

Value Range
> $1,337,000 0.0
$1,002,001 - $1,337,000 0.8
$669,001 - $1,002,000 1.0
$535,001 - $669,000 2.7
$401,001 - $535,000 13.3
$267,001 - $401,000 36.0
$134,001 - $267,000 38.9
$67,001 - $134,000 4.6
$0 - $67,000 2.9

Low for MA
Very High for Nation

Value Relative to Nation Value Relative to State
18.680417203797 75.9615384615385

Number Of Homes And Apartments:
26,494

Lawrence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
68.52% 3.07% 9 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,579 / per month

Homeownership Rate

Homeownership
Owners 27.91
Renters 72.09
Vacant 5.60

Housing Market Details

 

Age of Homes

AGE OF Lawrence HOMES
2000 or Newer 4.7
1970 - 1999 18.9
1940 - 1969 23.3
1939 or Older 53.1

Types of Homes

TYPE OF Lawrence HOMES
Single-Family 17.4
Townhomes 6.9
Small Apt. Buildings 48.5
Apt. Complexes 26.5
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Lawrence HOMES
No Bedroom 4.01
1 Bedroom 14.62
2 Bedrooms 32.50
3 Bedrooms 39.42
4 Bedrooms 7.78
5 or more bedrooms 1.67