The median home value in ZIP Code 01843 (Lawrence, MA) is $265,400. Approximately 38.7% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 1.8%.
The average occupancy of owner-occupied units in ZIP Code 01843 is 2.96 occupants, while owner-occupied units have an aggregate average size of 2.45 bedrooms per housing unit.
In the 01843 ZIP Code, an estimated 61.3% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 6.7%.
Among renter-occupied units in this ZIP, the average occupancy is 2.88 occupants, while renters in this Essex County region spend an average of 0% of their income on housing rental costs.
See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 01843.
| ZIP 01843 | Massachusetts | U.S. | |
|---|---|---|---|
| Median Home Value | $265,400 | $656,427 | $364,385 |
| Owner-Occupied Housing Units | 38.7% | 62.4% | 64.0% |
| Homeowner Vacancy Rate | 1.8% | 1.0% | 1.6% |
| Average Size of Owner-Occupied Unit | 2.96 | 2.69 | 2.70 |
| Average # of Bedrooms Per Unit | 2.45 | 2.66 | 2.75 |
| Median Housing Rent | $0 | $1,282 | $1,062 |
| Renter-Occupied Housing Units | 61.3% | 37.6% | 36.0% |
| Rental Vacancy Rate | 6.7% | 3.6% | 6.0% |
| Average Size of Renter-Occupied Unit | 2.88 | 2.25 | 2.49 |
| Percent of Income Spent on Rent | 0% | 29.76% | 29.83% |
The median home value in ZIP Code 01843 is $265,400. That median value is about 30% lower than the median home value of $381,600 in Massachusetts overall, and is 22% higher than the $217,500 the median home value in the entire U.S. In ZIP Code 01843, approximately 52.1% of homes are valued $200,000 to $299,999. That is 167% higher than in Massachusetts, in which 19.5% of homes are valued at $200,000 to $299,999, and is about 166% higher than in the U.S. overall (19.6% of homes valued at $200,000 to $299,999). The home value range that the smallest portion of ZIP Code 01843 homes fall into is $1,000,000 or more (0.0% of homes).
This chart visualizes the breakdown of home values in ZIP Code 01843, Massachusetts, and also in the U.S. overall.
See the table below for a regional comparison of home values in ZIP Code 01843.
| Home Value | ZIP 01843 | Massachusetts | U.S. |
|---|---|---|---|
| Less than $50,000 | 0.7% | 1.5% | 6.9% |
| $50,000 to $99,999 | 0.5% | 1.4% | 12.0% |
| $100,000 to $149,999 | 3.7% | 3.4% | 13.3% |
| $150,000 to $199,999 | 14.6% | 7.2% | 14.0% |
| $200,000 to $299,999 | 52.1% | 19.5% | 19.6% |
| $300,000 to $499,999 | 27.4% | 35.9% | 19.3% |
| $500,000 to $999,999 | 1.1% | 25.4% | 11.4% |
| $1,000,000 or more | 0.0% | 5.8% | 3.4% |
Approximately 41.2% of homes in this Lawrence, MA region were built in 1939 or earlier. This amount of homes built in 1939 or earlier in ZIP Code 01843 is about 27% higher than percentage of homes built in this time period in Massachusetts overall (32.5% of homes), and is 227% higher the percentage (12.6% of homes) in the U.S. as a whole. Additionally, an esimated 11.1% of local homes were built in 1940 to 1949. On the other end of the scale, just 0.0% of homes in this Essex County ZIP Code were built in 2010 to 2013 in ZIP Code 01843. In comparison, 1.7% of homes in Massachusetts overall were built in 2010 to 2013, while 2.7% of all U.S. homes were built in this time period.
A detailed regional comparison of home ages in ZIP Code 01843.
| Year Built | ZIP 01843 | Massachusetts | U.S. |
|---|---|---|---|
| 2014 or later | 0.0% | 1.6% | 2.5% |
| 2010 to 2013 | 0.0% | 1.7% | 2.7% |
| 2000 to 2009 | 4.3% | 7.1% | 14.0% |
| 1990 to 1999 | 5.6% | 7.7% | 13.9% |
| 1980 to 1989 | 9.0% | 10.8% | 13.4% |
| 1970 to 1979 | 9.6% | 11.6% | 15.2% |
| 1960 to 1969 | 9.0% | 10.2% | 10.6% |
| 1950 to 1959 | 10.3% | 11.3% | 10.3% |
| 1940 to 1949 | 11.1% | 5.5% | 4.9% |
| 1939 or earlier | 41.2% | 32.5% | 12.6% |
See the chart below for details on the age of homes in ZIP Code 01843, Massachusetts, and also in the U.S. overall. Data here refers to years that homes were built.
Frequently asked questions about housing in this Lawrence, MA ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 01843.
