Lawrence Home Prices: $456K, Up 3.7% — 3 ZIPs Analyzed (2026)

$456,478. That’s what a typical home costs in Lawrence, MA — a city in the Boston metro where prices have climbed 3.7% in the past year. For buyers priced out of Cambridge or Boston proper, Lawrence keeps appearing on radar screens. But the gap between its cheapest and priciest ZIP codes is nearly $147,000.

Quick answer: The average home price in Lawrence, MA is $456,478 as of February 2026, up 3.7% year over year according to Zillow.

Current Home Prices in Lawrence

Here’s where Lawrence stands right now:

The $456K median puts Lawrence well below the broader Boston-Cambridge-Newton metro, where typical values run considerably higher. That discount has kept buyer interest steady.

Year-over-year, Lawrence added roughly $16,300 to the median home value. That works out to about $1,360 per month in appreciation — not explosive, but consistent. Every single month in the 12-month data window shows a gain over the prior month. No dips. No plateaus.

The spread between the cheapest and most expensive ZIP codes — $374,022 versus $520,586 — means the neighborhood you pick matters. A buyer in the most affordable ZIP saves roughly $82,000 compared to the city average and nearly $147,000 compared to the priciest area.

Lawrence Home Prices by Neighborhood

All three Lawrence ZIP codes and their current values:

Most Expensive

01843 tops the list at $520,586 — 14% above the city median and the only Lawrence ZIP above $500K. Rent in this ZIP runs $2,378 per month, actually lower than in the city’s cheapest ZIP.

Most Affordable

01840 comes in at $374,022, a full $82,456 below the city average. Despite lower home prices, rent here is slightly higher at $2,417 per month — a signal of strong rental demand relative to purchase prices.

01841 sits in the middle at $474,826. Rent data is not available for this ZIP.

Rent vs Buy in Lawrence

Rent data is available for two of Lawrence’s three ZIP codes:

A mortgage on a $456K home with 20% down ($364K loan) at 6.5% runs roughly $2,302 in principal and interest. Add property taxes and insurance and you’re looking at $2,800-$3,000 per month.

Renting at $2,378-$2,417 saves you $400-$600 monthly before you factor in maintenance costs. But renters build zero equity.

The math tilts toward renting if you plan to stay fewer than 5 years. For longer holds, buying makes sense — especially in a market appreciating 3.7% annually, which adds roughly $16,900 per year to your home’s value.

One oddity in the data: the cheapest ZIP (01840) has the highest rent. If you’re an investor, that rent-to-price ratio of 0.65% monthly is notable. It’s not a slam dunk, but it’s better than the 0.46% in the 01843 ZIP.

Population Growth and Migration

Lawrence’s population hit 89,332 in 2024, a 0.5% increase from 88,878 in 2020. Growth has been modest but positive after a brief dip.

Lawrence lost residents in 2021 and 2022, then reversed course. The last two years show accelerating gains — 452 new residents in 2023 and 583 in 2024.

How does that compare to nearby Massachusetts cities?

Lawrence is growing far slower than its peers. Worcester and Lowell added 4%+ in the same period. Still, population is trending upward, and more residents mean more housing demand — even at this pace.

Lawrence Housing Market Trends

Here’s the month-by-month picture for the past 12 months:

Twelve straight months of gains. The market hasn’t had a single down month in this window. Total appreciation from March 2025 to February 2026: $16,362, or 3.7%.

The pace has been remarkably steady — gains of $1,000-$2,500 per month. No sudden spikes. The most expensive ZIP (01843) climbed from $504,748 to $520,586, adding $15,838. The cheapest ZIP (01840) gained $17,649, meaning the affordable end is appreciating slightly faster in dollar terms.

Is Lawrence a Good Place to Buy in 2026?

The numbers point to a seller’s market. Twelve consecutive months of price increases with no sign of flattening. Year-over-year appreciation of 3.7% outpaces inflation.

For buyers, the case rests on Lawrence’s discount relative to the Boston metro. You’re still inside the Boston-Cambridge-Newton commuter zone, but paying far less than Cambridge ($456K vs. what Cambridge commands). The tradeoff is a smaller city with slower population growth.

The ZIP-level spread gives you options. If $520K in 01843 is out of reach, 01840 at $374K is a different conversation entirely. That $147K gap between the most and least expensive ZIPs is meaningful flexibility.

If you’re a first-time buyer looking at the Boston metro, Lawrence is one of the more accessible entry points. If you’re an investor, the rent-to-price ratios are moderate — not stellar, but not disqualifying.

Lawrence Housing Market Outlook for 2026-2027

The 12-month trend shows no deceleration. Monthly gains in late 2025 and early 2026 have been consistent at $1,200-$2,000 per month.

If the current pace continues, Lawrence could reach the $465,000-$475,000 range by late 2026. The three-month trend from December 2025 through February 2026 shows average monthly gains of about $1,600.

Population growth, while slow, is accelerating. That supports demand. And Lawrence’s position as a more affordable option in the Boston metro keeps drawing buyer interest.

The risk? Rising mortgage rates could cool demand. But the data through February 2026 shows no evidence of that happening yet in Lawrence.

Similar Markets in MA

If you’re exploring the broader Massachusetts market, consider these cities:

• Worcester — the state’s second-largest city with 4.4% population growth, drawing buyers who want more space
• Lowell — Lawrence’s neighbor to the south, also in the Boston commuter belt with strong population gains
• Lynn — another Boston-adjacent market worth comparing for price and commute tradeoffs
• New Bedford — further from Boston but potentially more affordable for buyers willing to trade commute time for savings
• Quincy — closer to Boston with 1.9% population growth, a different price tier worth benchmarking

Frequently Asked Questions

What is the average home price in Lawrence?

The average home price in Lawrence, MA is $456,478 as of February 2026. Across the city’s three tracked ZIP codes, values range from $374,022 in ZIP 01840 to $520,586 in ZIP 01843.

Are home prices going up or down in Lawrence?

Prices are going up. Lawrence home values increased 3.7% year over year, rising every single month over the past 12 months. The median climbed from $440,116 in March 2025 to $456,478 in February 2026.

Is it cheaper to rent or buy in Lawrence?

Renting is cheaper on a monthly basis. Typical rents run $2,378-$2,417 per month, while a mortgage on the median home (20% down, 6.5% rate) costs roughly $2,300 in principal and interest alone — closer to $2,800-$3,000 with taxes and insurance. Buying builds equity, but the monthly cost is higher.

What is the most affordable neighborhood in Lawrence?

ZIP code 01840 is the most affordable at $374,022 — 18% below the city average. It also has the highest rent in the city at $2,417 per month, making it potentially attractive for investors.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.