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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 $156,187, lower than the Missouri average of $246,641.
The average cost of rent is $400/mo in Lancaster, primarily driven by the current value of real estate in the Lancaster area. In Lancaster, 23.45% of households rent, and 60.44% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lancaster is $5,465 per month. Households that rent pay about 7.32% of their income on rent here. Lancaster’s most expensive areas are in the southern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Glenwood, MO: less expensive homes
- Coatsville, MO: less expensive homes
- Queen City, MO: less expensive homes
- Downing, MO: higher priced homes
- Savannah, IA: equally priced homes
- Livonia, MO: less expensive homes
- Monterey, IA: equally priced homes
- Worthington, MO: less expensive homes
- Mark, IA: equally priced homes
- Stiles, IA: less expensive homes
Cities with Similar Populations
- Elka Park, NY: higher priced homes
- Thompsonville, MS: higher priced homes
- Teton, ID: higher priced homes
- Tamarack, WI: higher priced homes
- Flewellyn, TN: higher priced homes
- Fleetwood, AL: higher priced homes
- Findlay, TN: higher priced homes
- Farmville, GA: higher priced homes
- Etna, ME: higher priced homes
- Emhouse, TX: higher priced homes
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