CALCMONEY // HOME AFFORDABILITY // KS // LAWRENCE
How much house can you afford in Lawrence? Based on local median home prices, current KS mortgage rates, and Lawrence property tax data.
$265,000
$1,790/mo
$76,705/yr
$182,581
Monthly housing costs of $1,790 represent 37.0% of Lawrence's median gross monthly income ($4,833/mo). At 37.0%, median-income buyers in Lawrence are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $265,000 |
| Down Payment (20%) | $53,000 |
| Loan Amount | $212,000 |
| Monthly PI Payment | $1,403 |
| Monthly Property Tax | $276 |
| Monthly Insurance Est. | $110 |
| Total Monthly PITI | $1,790 |
| Housing Cost % of Income | 37.0% |
| Required Income (28% rule) | $76,705/yr |
| Max Affordable Home | $182,581 |
$9,275
$2,260/mo
Lawrence Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $265,000 | Lawrence city median |
| Down Payment (20%) | $53,000 | Conventional loan |
| Monthly PITI | $1,790 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $76,705 | Annual gross |
| Max Affordable Home | $182,581 | Based on median income |
| FHA Down (3.5%) | $9,275 | Minimum FHA |
| Housing Cost % of Income | 37.0% | Median income: $58,000/yr |
| Property Tax Rate | 1.25% | $3,313/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Lawrence is $265,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $212,000, generating a monthly P&I payment of $1,403. Adding property taxes ($276/mo) and homeowners insurance ($110/mo) brings total monthly PITI to $1,790.
Lawrence's property tax rate of 1.25% is near the national average, adding a standard increment to monthly housing costs. On the Lawrence median home, that is $276/month, or $3,313 per year.
Kansas levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Lawrence should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Lawrence's median income of $58,000/year can afford up to $1,353/month in total housing costs. Based on Lawrence's mortgage rate of 6.95% and property tax rate of 1.25%, that translates to a maximum affordable home price of approximately $182,581 with 20% down on a 30-year loan.
To afford the median Lawrence home priced at $265,000, you need an annual gross income of approximately $76,705. Total monthly housing costs (principal and interest of $1,403, property taxes of $276, and insurance of $110) come to $1,790/month, which equals 28% of the required income.
At the median home price of $265,000 and median household income of $58,000, the total monthly housing cost of $1,790 represents 37.0% of gross monthly income. This is well above the standard 28% threshold, making Lawrence a challenging market for buyers at median income.
A conventional 20% down payment on the median Lawrence home of $265,000 is $53,000. An FHA loan requires just 3.5% down — $9,275 — but adds mortgage insurance of roughly $181/month, bringing total FHA payments to $2,260/month.
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