Lawrence, Kansas Housing Market Prices
Lawrence Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 169% above the Kansas median$281,039
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Median rent 1% above the Kansas median$1,072
Housing Market Overview
| Metric | Lawrence | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $281,039 | $104,644 | $248,835 |
| Price Trend (Annual %) | 7.9% | 4.4% | 7.5% |
| Median Gross Rent | $1,072 | $1,060 | $1,407 |
| Rent Trend (Annual %) | 3.1% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lawrence is about 169% higher than in Kansas. Rent is about 1% higher than the Kansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lawrence, up about 7.9% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Lawrence rose about 27.1% between 2015 and 2024, from $844 to $1,072. Over the same span, rent in Kansas rose about 40.0%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Lawrence.
Buying the median-priced home in Lawrence costs roughly 21.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lawrence. The price-to-rent ratio in Kansas is about 8.2.
| Metric | Lawrence | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $281,039 | $104,644 | $248,835 |
| Median Household Income | $64,362 | $74,287 | $80,455 |
| Price-to-Income Ratio | 4.4 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lawrence rose about 76.3%, while median household income rose about 58.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lawrence | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 39.2% | 60.9% | 58.5% |
| Rental Rate | 53.9% | 29.8% | 31.2% |
| Vacancy Rate | 6.9% | 9.2% | 10.2% |
| Median Tenure (years) | 8.0 | 14.0 | 15.0 |
| Median Year Moved In | 2018 | 2012 | 2011 |
Lawrence has a homeownership rate of 39.2%, lower than the Kansas average of 60.9%. Its housing vacancy rate is 6.9%, compared with 9.2% in Kansas.
Housing Stock
| Metric | Lawrence | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.12 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1982 | 1975 | 1978 |
| Median Number of Rooms | 5.1 | 6.0 | 5.5 |
The typical housing unit in Lawrence was built around 1982. On average, 2.1 people live in a home with about 5.1 rooms, staying for about 8.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lawrence, Kansas.
What is the median home price in Lawrence, Kansas?
The median home price in Lawrence, Kansas is $281,039, higher than the Kansas average of $104,644.
What is the average home price in Lawrence, Kansas?
The typical home price in Lawrence, Kansas, reported as the median sale price, is $281,039. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lawrence, Kansas?
The median gross rent in Lawrence, Kansas is $1,072 per month, higher than the Kansas average of $1,060.
What was the median gross rent in Lawrence in 2020?
In 2020, the median gross rent in Lawrence, Kansas was $935 per month.
What is the price-to-rent ratio in Lawrence, Kansas?
The price-to-rent ratio in Lawrence, Kansas is about 21.8, meaning it would take roughly 21.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lawrence.
Are home prices or rent rising faster in Lawrence, Kansas?
Both home prices and rent are rising in Lawrence, up about 7.9% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lawrence, Kansas?
39.2% of households in Lawrence, Kansas own their home, lower than the Kansas average of 60.9%.
What is the vacancy rate in Lawrence, Kansas?
The housing vacancy rate in Lawrence, Kansas is 6.9%, lower than the Kansas average of 9.2%.
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