Mortgage payment estimates, closing cost breakdowns, and homebuying data for Lawrence, Kansas.
Median Home Price
$275K
Population
95K
Avg Monthly Rent
$1,120
Property Tax Rate
1.41% *
* Property tax shown is the Kansas state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Lawrence.
Lawrence vs Kansas Median
The median home price in Lawrence is $275,000, which is 22% above the Kansas state median of $225,000.
Mortgage Calculator — Lawrence, KS
Pre-filled with Lawrence median home price and Kansas tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $275K home using Kansas's 1.41% tax rate and $2,900/yr insurance.
5% Down
$2,368/mo
Down: $13,750
Loan: $261K
P&I: $1,651
Tax: $323
Insurance: $242
PMI: $152
10% Down
$2,274/mo
Down: $27,500
Loan: $248K
P&I: $1,564
Tax: $323
Insurance: $242
PMI: $144
20% Down (No PMI)
$1,955/mo
Down: $55,000
Loan: $220K
P&I: $1,391
Tax: $323
Insurance: $242
Income needed (28% rule): $84K/year with 20% down, $97K/year with 10% down.
Rent vs Buy in Lawrence
Rent
$1,120/mo
vs
Buy (10% down)
$2,274/mo
Price-to-rent ratio: 20.5 — At a ratio above 20, renting may be more economical in Lawrence for shorter stays. Buying costs $1,154 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Lawrence is $275,000, 22% above the Kansas state median of $225,000. With a population of 94,934, Lawrence is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Kansas average 1.41% annually. This moderate property tax rate means a $275,000 home in Lawrence would carry roughly $323/month in property taxes. Homeowners insurance in Kansas runs approximately $2,900 per year. This is within the normal range nationally.
Average rent in Lawrence is $1,120/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Lawrence presents moderate affordability. The $275K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Lawrence.