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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lawrence Township, NJ Real Estate Market

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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lawrence Township, NJ Housing Market Trends

With a population of 31,808, 11,849 total housing units (homes and apartments), and a median house value of $497,617, real estate costs in Lawrence Township are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Lawrence Township, accounting for 52.73% of the township's housing units. Other types of housing that are prevalent in Lawrence Township include large apartment complexes or high rise apartments ( 27.57%), row houses and other attached homes ( 16.40%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.30%).

The most prevalent building size and type in Lawrence Township are three and four bedroom dwellings, chiefly found in single-family detached homes. The township has a mixture of owners and renters, with 64.96% owning and 35.04% renting.

There is a lot of housing in Lawrence Township 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 Township built between 1940-1969 ( 28.72%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.20%). There's also some housing in Lawrence Township built before 1939 ( 9.87%).

Lawrence Township Home Appreciation Rates

Lawrence Township's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lawrence Township during the period has been just 4.66%, which is lower than 80% of US communities.

Appreciation rates are so strong in Lawrence Township that despite a nationwide downturn in the housing market, Lawrence Township real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lawrence Township appreciation rates continue to be some of the highest in America, at 8.21%, which is higher than appreciation rates in 90.09% 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 Township. Lawrence Township appreciation rates in the latest quarter were at 3.82%, which equates to an annual appreciation rate of 16.16%.

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

One very important thing to keep in mind is that these are average appreciation rates for the township. Individual neighborhoods within Lawrence Township differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lawrence Township - 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 Township real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$497,617

Lawrence Township, NJ Home Prices
> $1,405,000
$1,054,001 - $1,405,000
$703,001 - $1,054,000
$562,001 - $703,000
$422,001 - $562,000
$281,001 - $422,000
$140,001 - $281,000
$70,001 - $140,000
$0 - $70,000
1.5%
1.5%
2.1%
2.1%
14.2%
14.2%
16.5%
16.5%
25.6%
25.6%
25.7%
25.7%
10.9%
10.9%
2.9%
2.9%
0.7%
0.7%
0% 100.0%
% of Homes
Average

for New jersey

Very High

for nation

Number of Homes And Apartments:

11,849

Lawrence Township Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,493 / per month

Homeownership Rate

Owners
Renters
Vacant
65.0%
65.0%
35.0%
35.0%
6.8%
6.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.2%
11.2%
50.2%
50.2%
28.7%
28.7%
9.9%
9.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
52.7%
52.7%
16.4%
16.4%
3.3%
3.3%
27.6%
27.6%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.1%
2.1%
9.9%
9.9%
27.6%
27.6%
27.2%
27.2%
24.9%
24.9%
8.4%
8.4%
0% 100.0%
% of Homes