Metropolitan Statistical Area (MSA):
Lawrence, KS is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Lawrence, KS metropolitan statistical area (MSA) is in the midst of a housing market boom. The combination of strong job growth, low interest rates, and limited new construction has resulted in rapidly rising home prices and rental rates.
The average sale price of a home in Lawrence has increased by nearly 10% over the past year, while the average rent for a two-bedroom apartment has jumped by more than 5%. These trends are expected to continue in the near future as demand for housing in Lawrence remains high.
Investors are taking note of the strong housing market trends in Lawrence and are increasingly buying up properties to rent out or sell at a profit later. This is contributing to even higher prices and rents, as well as tight availability of rental units.
First-time homebuyers are finding it difficult to break into the Lawrence housing market due to the high prices and competition from investors. However, many are still managing to purchase homes by teaming up with family or friends to buy property together.
Overall, the Lawrence housing market is extremely strong right now and shows no signs of slowing down anytime soon. Those looking to buy or rent property in this MSA should be prepared to pay top dollar – but it will likely be worth it given the current trends.