$2,600 Per Month
- 3 Beds
- 1 Bath
- 1,344 Sq Ft
- Apartment for Rent
153 Bailey St Unit 2 FL, Lawrence, MA 01843
153 Bailey St Unit 2 FL, Lawrence, MA 01843
Frequently Asked Questions
How much does it cost to rent a home in Lawrence, MA?
The median rent for a home in Lawrence, MA is $2,175 per month, though prices vary by neighborhood, size, and property type. As of August 2026, single-family homes tend to be the most affordable option while condos and townhouses are currently more expensive.
How much do you need to make to afford rent in Lawrence, MA?
To comfortably afford the median rent in Lawrence, MA, a household needs to earn roughly $87,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,175 per month in Lawrence, MA, renters typically need to show $6,525 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Lawrence, MA?
In Lawrence, MA, the price-to-rent ratio is 18.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Lawrence, MA are best for renting a home?
The best neighborhood for renting in Lawrence, MA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Downtown Lawrence, South Common, Tower Hill, Arlington and Prospect Hill-Back Bay, each with its own character and price range.
