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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 $219,410, lower than the Kentucky average of $219,615.
The average cost of rent is $847/mo in Lancaster, primarily driven by the current value of real estate in the Lancaster area. In Lancaster, 19.52% of households rent, and 42.59% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lancaster is $5,360 per month. Households that rent pay about 15.80% of their income on rent here. Lancaster’s most expensive areas are in the northern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Marksbury, KY: higher priced homes
- Judson, KY: equally priced homes
- Clifton, KY: higher priced homes
- Bryantsville, KY: less expensive homes
- Little Needmore, KY: higher priced homes
- Little Hickman, KY: higher priced homes
- Logantown, KY: less expensive homes
- Buckeye, KY: equally priced homes
- Hyattsville, KY: less expensive homes
- Pink, KY: higher priced homes
Cities with Similar Populations
- Powell, WY: higher priced homes
- McGregor, TX: higher priced homes
- Mena, AR: less expensive homes
- Mendham, NJ: higher priced homes
- Mendota Heights, MN: higher priced homes
- Playa Del Rey, CA: higher priced homes
- Pocahontas, AR: less expensive homes
- Pomona, NY: higher priced homes
- Poplar Grove, IL: equally priced homes
- Port Salerno, FL: higher priced homes
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