The Most Affordable Neighborhoods in Lawrence, IN by Home Value

These days, finding an affordable place to live in the Lawrence area can be challenging. Home prices in Lawrence are now at a median cost of $196,840, lower than the Indiana average of $232,932.

The average cost of rent is $1,557/mo in Lawrence, primarily driven by the current value of real estate in the Lawrence area. In Lawrence, 35.49% of households rent, and 36.15% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Lawrence is $6,876 per month. Households that rent pay about 22.65% of their income on rent here. Lawrence’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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