Rent, population, and median household income are important factors to consider for a 1031 exchange in Lawrence due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Lawrence, Kansas is a part of the Lawrence, KS metropolitan area, and contains 5 zip codes: 66047, 66046, 66044, 66049, and 66045.
Lawrence Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lawrence, KS metropolitan area was $824, which is 11.05% lower than 2014 average rent. This represents a compounded annual growth rate of 2.12%. 2019 vacancy in Lawrence, KS was 5.60%.
The total population of the city of Lawrence, KS has grown 11.00% since 2010. As of 2018, the population was 97,286. The median household income of the Lawrence was $50,429, which is 16.36% lower than the national average.
- metropolitan area Lawrence, KS
- avg rent $824
- rent growth 11.05%
- vacancy 5.60%
- median income $50,429
- population (2018) 97,286
- population growth 11.00%
- vs. nat'l avg 16.36%
- zip codes 66044 66045 66046 66047 66049