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These days, finding an affordable place to live in the Lancaster area can be challenging. Home prices in Lancaster are now at a median cost of $236,258, higher than the Indiana average of $232,932.
The average cost of rent is $941/mo in Lancaster, primarily driven by the current value of real estate in the Lancaster area. In Lancaster, 6.41% of households rent, and 36.28% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lancaster is $7,338 per month. Households that rent pay about 12.83% of their income on rent here. Lancaster’s most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Mount Etna, IN: less expensive homes
- Majenica, IN: equally priced homes
- Bippus, IN: equally priced homes
- Pleasant Plain, IN: less expensive homes
- Plum Tree, IN: less expensive homes
- Warren, IN: less expensive homes
- Milo, IN: less expensive homes
- Andrews, IN: less expensive homes
- Huntington, IN: less expensive homes
- Simpson, IN: higher priced homes
Cities with Similar Populations
- Max, MN: equally priced homes
- Manchester, MN: less expensive homes
- Mantador, ND: less expensive homes
- Manter, KS: less expensive homes
- Manuelitas, NM: less expensive homes
- Maple Island, MN: less expensive homes
- Margaret, WV: less expensive homes
- Marrowbone, KY: less expensive homes
- Martha, KY: less expensive homes
- Martha, OK: less expensive homes
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