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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 31,808 people, 11,902 houses or apartments, and a median cost of homes of $525,211, Lawrence Township real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Lawrence Township, accounting for 50.67% of the township's housing units. Other types of housing that are prevalent in Lawrence Township include large apartment complexes or high rise apartments ( 28.48%), row houses and other attached homes ( 17.18%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.66%).
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 63.71% owning and 36.29% 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 ( 26.91%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.63%). There's also some housing in Lawrence Township built before 1939 ( 10.13%).
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 5.33%, which is lower than 70% 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 11.23%, which is higher than appreciation rates in 91.83% 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 4.99%, which equates to an annual appreciation rate of 21.49%.
Importantly, NeighborhoodScout’s exclusive research found that Lawrence Township's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to New Jersey, our data show that Lawrence Township's latest annual appreciation rate is higher than 50% 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.
$525,211
for New jersey
for nation
11,902
$3,541 / per month