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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 $298,665, lower than the Tennessee average of $315,131.
The average cost of rent is $845/mo in Lancaster, primarily driven by the current value of real estate in the Lancaster area. In Lancaster, 27.52% of households rent, and 48.22% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lancaster is $4,883 per month. Households that rent pay about 17.31% of their income on rent here. Lancaster’s most expensive areas are in the southern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Lancaster Hill, TN: equally priced homes
- Temperance Hall, TN: higher priced homes
- Hickman, TN: less expensive homes
- Buffalo Valley, TN: less expensive homes
- Club Springs, TN: less expensive homes
- Gordonsville, TN: less expensive homes
- Chestnut Mound, TN: less expensive homes
- Silver Point, TN: equally priced homes
- Elmwood, TN: less expensive homes
- Philippi, TN: equally priced homes
Cities with Similar Populations
- Morton, IN: less expensive homes
- Monterey, NE: less expensive homes
- Montongo, AR: less expensive homes
- Mooresville, WV: less expensive homes
- Mooreton, ND: less expensive homes
- Moorland, IA: less expensive homes
- Moorpark Home Acres, CA: higher priced homes
- Moran, WY: higher priced homes
- Morgan Center, VT: less expensive homes
- Morgan, VT: less expensive homes
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