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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 32,494, 2,485 total housing units (homes and apartments), and a median house value of $382,349, 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 51.12% of the town's housing units. Other types of housing that are prevalent in Lawrence Township include large apartment complexes or high rise apartments ( 26.88%), row houses and other attached homes ( 17.74%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.26%).

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 63.11% owning and 36.89% 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 ( 31.46%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.47%). There's also some housing in Lawrence Township built before 1939 ( 9.81%).

Lawrence Township Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Lawrence Township, where house values have increased just 16.69%, which is annualized rate of 1.56%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

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 6.58%, 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 2.71%, which equates to an annual appreciation rate of 11.28%.

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:
$382,349

Lawrence Township, NJ HOME PRICES

> $1,135,000
1.1%
1.1%
$852,001 - $1,135,000
2.5%
2.5%
$567,001 - $852,000
11.5%
11.5%
$454,001 - $567,000
15.3%
15.3%
$341,001 - $454,000
23.2%
23.2%
$227,001 - $341,000
28.1%
28.1%
$114,001 - $227,000
13.3%
13.3%
$57,001 - $114,000
3.3%
3.3%
$0 - $57,000
1.5%
1.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for NJ

Value Relative To Nation

Number Of Homes And Apartments:
2,485

Lawrence Township Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
70.97% 2.53%
3
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,654 / per month

Homeownership Rate

Owners
63.1%
63.1%
Renters
36.9%
36.9%
Vacant
8.5%
8.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
12.5%
12.5%
1970 - 1999
46.3%
46.3%
1940 - 1969
31.5%
31.5%
1939 or Older
9.8%
9.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
51.1%
51.1%
Townhomes
17.7%
17.7%
Small Apt. Buildings
4.3%
4.3%
Apt. Complexes
26.9%
26.9%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
10.8%
10.8%
2 Bedrooms
27.7%
27.7%
3 Bedrooms
33.5%
33.5%
4 Bedrooms
21.4%
21.4%
5 or more bedrooms
5.7%
5.7%
0.0% 100.0%
% OF HOMES