Cost of Living in Lawrence, KS

With a cost of living index of 86, Lawrence, KS is a very affordable place to live. Living here is 14% cheaper than the national average and 14% above the Kansas state average of 72. With a population of 95,459, Lawrence is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Lawrence's cost of living. The median monthly rent is $1,054 (20% below the US median of $1,319), and the median home value sits at $269,500 (12% below the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Lawrence is $62,838, which is 16% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Lawrence. The area sees an average annual temperature of 55.2°F, with summers averaging 77°F and winters around 32°F. Annual rainfall totals 35.6 inches spread over roughly 106 days.

Everyday prices in the Lawrence, KS (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.