As of the census of 2000, there were 2,662 people, 1,085 households, and 748 families residing in the city. The population density was 1,011.8 people per square mile (390.8/km²). There were 1,137 housing units at an average density of 432.2/sq mi (166.9/km²). The racial makeup of the city was 91.40% White, 6.46% African American, 0.23% Native American, 0.64% Asian, 0.19% from other races, and 1.09% from two or more races. Hispanic or Latino of any race were 1.31% of the population.
There were 1,085 households out of which 30.1% had children under the age of 18 living with them, 48.5% were married couples living together, 15.1% had a female householder with no husband present, and 31.0% were non-families. 26.4% of all households were made up of individuals and 12.1% had someone living alone who was 65 years of age or older. The average household size was 2.41 and the average family size was 2.88.
In the city the population was spread out with 23.0% under the age of 18, 7.4% from 18 to 24, 30.7% from 25 to 44, 22.0% from 45 to 64, and 16.9% who were 65 years of age or older. The median age was 39 years. For every 100 females there were 85.4 males. For every 100 females age 18 and over, there were 81.6 males.
The median income for a household in the city was $33,586, and the median income for a family was $39,143. Males had a median income of $30,750 versus $24,063 for females. The per capita income for the city was $15,809. About 10.1% of families and 11.0% of the population were below the poverty line, including 15.4% of those under age 18 and 6.5% of those age 65 or over.
The primary east-west highway passing through Lowell is Interstate 85. Other important highways include U.S. Route 29/U.S. Route 74 (Wilkinson Blvd./Franklin Blvd.) and North Carolina Highway 7 (McAdenville Rd./3rd St./Main St./1st St./Lowell Rd.).
Freight rail service is provided by the Norfolk Southern Railway. While Amtrak's passenger train also follows the Norfolk Southern main line, the nearest station is in Gastonia.