Lawrence Township, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lawrence Township, NJ Real Estate Data


Lawrence Township Housing Market Information

With 33,242 people, 2,564 houses or apartments, and a median cost of homes of $339,622, 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 46.32% of the town's housing units. Other types of housing that are prevalent in Lawrence Township include large apartment complexes or high rise apartments ( 28.44%), row houses and other attached homes ( 19.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.36%).

The most prevalent building size and type in Lawrence Township are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.13% owning and 35.87% 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 ( 25.95%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.31%). There's also some housing in Lawrence Township built before 1939 ( 7.54%).

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 -1.72%, which is lower than 80% of US communities.

Over the last year, Lawrence Township appreciation rates have trailed the rest of the nation. In the last twelve months, Lawrence Township's appreciation rate has been 1.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lawrence Township were at 0.80%, which equates to an annual appreciation rate of 3.22%.

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

Relative to New Jersey, our data show that Lawrence Township's latest annual appreciation rate is lower 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 town. 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:
$339,622

Lawrence Township, NJ HOME PRICES

Value Range
> $1,034,000 1.6
$776,001 - $1,034,000 1.9
$517,001 - $776,000 10.3
$414,001 - $517,000 12.1
$311,001 - $414,000 18.3
$207,001 - $311,000 34.4
$103,001 - $207,000 16.2
$52,001 - $103,000 3.7
$0 - $52,000 1.6

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
13.2927329156175 54.4715447154472

Number Of Homes And Apartments:
2,564

Rent & Ownership

 

Average Market Rent:
$1,766 / per month

Homeownership Rate

Homeownership
Owners 64.13
Renters 35.87
Vacant 4.62

Housing Market Details

 

Age of Homes

AGE OF Lawrence Township HOMES
2000 or Newer 16.3
1970 - 1999 50.2
1940 - 1969 26.0
1939 or Older 7.5

Types of Homes

TYPE OF Lawrence Township HOMES
Single-Family 46.3
Townhomes 19.8
Small Apt. Buildings 5.4
Apt. Complexes 28.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Lawrence Township HOMES
No Bedroom 0.65
1 Bedroom 14.21
2 Bedrooms 30.52
3 Bedrooms 30.73
4 Bedrooms 19.98
5 or more bedrooms 3.91

Lawrence Township Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
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
49.04% 2.38% 4 6
* 10 is highest