Lawrence Township, NJ—08648
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lawrence Township, NJ
As of Oct '25, the median home price in Lawrence Township, NJ is $457,000, with a year-over-year change of 1.3%. This indicates that home prices in Lawrence Township, NJ are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $457,000 | 1.3% |
| Single Family | $510,000 | 0.4% |
| Condos | $324,000 | 5.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $345,000 | 3.6% |
3 Bed | $471,000 | 1.9% |
4 Bed | $662,000 | 1.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lawrence Township, NJ
As of July '25, Rentcast reports the average rent in Lawrence Township, NJ is $2,700, with a year-over-year rent change of 2.3%. Per bedroom, the median rent as of July '25 in Lawrence Township, NJ is studios: $4,150, 1-bedrooms: $1,680, 2-bedrooms: $2,340, 3-bedrooms: $3,740, 4-bedrooms: $4,000. The most common rental property sizes in Lawrence Township, NJ are 2-bedroom and 1-bedroom, accounting for 49.3% and 26.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,380 | $2,700 |
| Studio Rent | $4,150 | $4,150 |
| 1 Bed Rent | $1,600 | $1,680 |
| 2 Bed Rent | $2,300 | $2,340 |
| 3 Bed Rent | $3,400 | $3,740 |
| 4 Bed Rent | $4,300 | $4,000 |
% of Rental Stock
Property Listings — Lawrence Township, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Lawrence Township, NJ is 46. This is a increase of 72.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $502,000 | 9.0% |
Listing Count | 101 | 31.0% |
| Listings as % of Homes | 0.4% | 31.0% |
Days on Market | 46 | 72.0% |
Demographics — Lawrence Township, NJ
As of the latest ACS Survey released in 2023, Lawrence Township, NJ has a population of 31,100, which has decreased by -1.8% over the past 5 years. Lawrence Township, NJ is a moderately popular place for families, as children make up 19.2% of the population. The area has a highly educated workforce, with 60.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,100 | -1.8% |
% Under 18 | 19.2% | 5.5% |
% Seniors | 15.7% | -3.1% |
% WFH | 26.6% | 274.6% |
% w/ College Degree | 60.1% | 9.9% |
As of the latest ACS Survey released in 2023, Lawrence Township, NJ is a predominantly white area, with 55.8% of the population identifying as white. The white population has shrunk by 10.3% in the last 5 years. The second most common race or ethnicity in Lawrence Township, NJ is hispanic, making up 15.6% of the population. Foreign-born residents account for 25.7% of the population in Lawrence Township, NJ, and this percentage has increased by 6.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 55.8% | -10.3% |
% Black | 13.6% | 14.3% |
% Hispanic | 15.6% | 79.3% |
% Asian | 14.2% | -6.0% |
% Foreign Born | 25.7% | 6.2% |
Mortgage and Risk — Lawrence Township, NJ
According to HUD data as of 2023, there were 418 mortgage originations in Lawrence Township, NJ, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Lawrence Township, NJ. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 418 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Lawrence Township, NJ
As of 2024, the percent of homes in Lawrence Township, NJ under the Section 8 program is 7.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Lawrence Township, NJ, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 266 |
Total Units Section 8 | 252 |
% Rentals under Section 8 | 7.4% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $460 | $1,600 | $2,060 |
| 2 Bedroom | $300 | $2,300 | $2,600 |
| 3 Bedroom | -$270 | $3,400 | $3,130 |
| 4 Bedroom | -$780 | $4,300 | $3,520 |
Affordability — Lawrence Township, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $457,000 |
| Median Household Income | $118,000 |