Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,015 people, 416 houses or apartments, and a median cost of homes of $145,240, house prices in Lawrenceville are some of the most affordable in Virginia as well as the nation.
Single-family detached homes are the single most common housing type in Lawrenceville, accounting for 70.87% of the town's housing units. Other types of housing that are prevalent in Lawrenceville include large apartment complexes or high rise apartments ( 18.45%), duplexes, homes converted to apartments or other small apartment buildings ( 9.32%), and a few row houses and other attached homes ( 1.36%).
The most prevalent building size and type in Lawrenceville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 35.37% owning and 64.63% renting.
The housing in Lawrenceville was primarily built before 1939 ( 35.53%), making the housing stock in Lawrenceville some of the oldest overall in America, although there is a range of ages of homes in Lawrenceville. The next most important housing age is between 1940-1969 ( 34.17%), followed by between 1970-1999 ( 15.53%). There's also some housing in Lawrenceville built between 2000 and later ( 14.76%).
Vacant housing appears to be an issue in Lawrenceville. Fully 19.22% of the housing stock is classified as vacant. Left unchecked, vacant Lawrenceville homes and apartments can be a drag on the real estate market, holding Lawrenceville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Lawrenceville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lawrenceville during the period has been just 5.10%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Lawrenceville's appreciation rate, at 6.65%, has been at or slightly above the national average. In the latest quarter, Lawrenceville's appreciation rate has been 2.32%, which annualizes to a rate of 9.62%.
Relative to Virginia, our data show that Lawrenceville's latest annual appreciation rate is higher than 50% of the other cities and towns in Virginia.
$145,240
for Virginia
for nation
416
$1,067 / per month