The typical owner-occupied home in Lawrence is worth about $217,200, 15% below the Pennsylvania median of $254,500 and 35% below the national median of $332,700. Owners pay a median $2,723 a year in property taxes, about 1.25% of their home's value, close to the Pennsylvania rate of 1.30%. The median household earns $66,250 a year, so the median home costs 3.3 times the median income (3.3 times for Pennsylvania). 90% of occupied homes here are lived in by their owners, and 74% of those owners still have a mortgage.
Lawrence at a glance
| Lawrence | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $217,200 | $254,500 | $332,700 |
| Median property tax paid per year | $2,723 | $3,311 | $3,119 |
| Property tax as a share of value | 1.25% | 1.30% | 0.94% |
| Median household income | $66,250 | $77,971 | $80,734 |
| Homes lived in by their owners | 90% | 69% | 65% |
| Owner homes with a mortgage | 74% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,204 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 24.6% | 19.4% | 21.0% |
| Median rent | $1,037 | $1,209 | $1,413 |
| Rent as a share of renters' income | 17.9% | 29.2% | 30.6% |
| Median year homes were built | 1992 | 1965 | 1980 |
| Vacant homes | 0.0% | 9.2% | 10.1% |
| Population | 1,154 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Lawrence
At this week's average 30-year rate of 7.11%, buying the median Lawrence home of $217,200 with 20% down costs about $1,486 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,847, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $63,670 for the 20%-down payment. That payment is 27% of the median Lawrence household income of $66,250; at that income and 20% down, the 28% guideline points to a home of about $226,000.
The median rent here is $1,037 a month, so owning the median home costs about $449 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $43,440 |
|---|---|
| Loan amount | $173,760 |
| Principal and interest | $1,169 |
| Property taxes (1.25% a year) | $226 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| PMI | $0 |
| Total per month | $1,486 |
Change the numbers in the calculator
| Down payment | $7,602 |
|---|---|
| Loan amount | $213,266 |
| Principal and interest | $1,435 |
| Property taxes (1.25% a year) | $226 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| FHA mortgage insurance | $96 |
| Total per month | $1,847 |
Change the numbers in the calculator
Questions about home buying in Lawrence
What is the median home value in Lawrence?
About $217,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lawrence?
Homeowners pay a median $2,723 a year, which is about 1.25% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Lawrence?
For the median home with 20% down at 7.11%, the payment is about $1,486 a month. Keeping that under 28% of gross income takes about $63,670 a year.
More about Lawrence
- Mortgage Refinance in Lawrence
- Debt Relief in Lawrence
- Home Equity Loans in Lawrence
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data