Lawrence, Kansas Housing Market

What stands out in Lawrence?

• Prices were above the year before in 94% of months: among the most consistent price growth of 765 tracked cities. Drops here have been short.
• 53% of occupied homes are rented: among the highest renter shares of 765 tracked cities. The tenant pool is deep.
• Homes for sale are up 37% on last year: among the fastest inventory growth of 765 tracked cities. Supply is building fast, which shifts leverage to buyers.

Why is Lawrence still competitive?

Lawrence has 25% fewer homes for sale than in 2017–2019 at this time of year, and listings spend a median 43 days on the market, less than in 80% of the 765 cities we track. Well-priced homes will draw more than one offer. Your discount is in the listing that has sat, so set a price alert and move when a stale one gets cut.

Are Lawrence price gains broad or limited to a few ZIP codes?

Asking price per square foot in Lawrence is up 4.3% over the last year. 3 of the 4 ZIP codes with at least 10 listings rose. 66044 led at up 13.9%, and 66046 trailed at down 5.6%. Broad gains like these are harder to fade. Over five years the pace has been 5.1% a year. Underwrite closer to that than to the last twelve months.

How much can you negotiate in Lawrence?

Pending-sale counts for Lawrence were thinly reported until recently, so this page reads demand from how long listings stay on the market, how many sellers cut, and how much is for sale. About 1 in 5 sellers has already dropped their price. Each one has learned their first price was too high. Start your offer below their new price.

Lawrence listings spend a median 43 days on the market. There are 215 homes for sale in Lawrence. That is 3.5 times the tightest month on record, but below the peak of 339. Supply is growing against last year.

What to do about it

• Judge each listing on its own.
• Homes listed 60+ days ago with a price cut are where your discount is.
• Fresh, well-priced homes will not move on price. Do not waste offers on them.

Is now a good time to buy in Lawrence?

The median asking price is 22.9% below its Mar 2026 peak. Per square foot the gap is smaller: 13.6% below the Feb 2026 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Lawrence prices have risen in 104 of the last 111 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

Who will rent from you in Lawrence?

Most Lawrence households rent. 53 out of every 100 households are renters. The renter share is growing. Five years ago it was 52 in 100. Lawrence added about 2,100 renter households in five years. Renter households average 1.9 people. Singles and couples rent here. Two bedrooms beat four.

Households grew 8% in five years. The housing stock grew 7%. The two are moving in step. 6.5% of homes sit empty. That is normal for a healthy market.

The median Lawrence household earns $71,052 a year. Incomes here have grown 4.4% a year since 2019. Incomes and home prices are rising in step. A typical home costs 5.9 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. At 30% of income, a tenant on the median income can pay about $1,776 a month.

To see what one Lawrence address would rent for and cash flow, run it through the app.

When do Lawrence prices dip?

Across 9 full years, Lawrence asking prices ran lowest in September, about 3.2% below the year's average. They peaked in December. The most homes for sale show up in October, about 17% above the yearly average. Shop in October for choice, and expect the softest asking prices in September.

What numbers should you underwrite a Lawrence deal with?

• Price growth to assume — +5.1%/yr. Lawrence has grown about 5.1% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices rose 4.3% over the last year. Use it for timing. The five-year rate is the better guide.
• Competition when you exit — +37%. Homes for sale in Lawrence are up 37% on last year, so your resale faces more competition than today's comps did.

Read how the pending ratio measures demand and how we read these numbers, then run the numbers on a deal.

What is the median home price in Lawrence?

The median asking price in Lawrence is about $420,000 as of Sep 2026, up 11.4% from a year ago. The typical listing is 3% larger than a year ago, and asking price per square foot is up 4.3%. So the size of homes on the market explains much of the rise. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Lawrence figures cover the 5 ZIP codes with a Lawrence mailing address, which can reach past city limits.

Is Lawrence a buyer's or seller's market in 2026?

Neither side has the upper hand in Lawrence right now. We compare Lawrence with 2017–2019 at this time of year: listings spend 27% fewer days on the market; 19% of sellers have cut their price, against 14% then; there are 25% fewer homes for sale.

Are Lawrence home prices going up or down?

The median asking price is 22.9% below its Mar 2026 peak. Per square foot the gap is smaller: 13.6% below the Feb 2026 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.

What is the fair market rent in Lawrence?

HUD's fiscal year 2026 fair market rent for Douglas County is $1,182 a month for 2 bedrooms and $1,644 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.