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These days, finding an affordable place to live in the New Lancaster area can be challenging. Home prices in New Lancaster are now at a median cost of $171,988, lower than the Indiana average of $232,932.
The average cost of rent is $824/mo in New Lancaster, primarily driven by the current value of real estate in the New Lancaster area. In New Lancaster, 16.49% of households rent, and 40.71% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Lancaster is $6,272 per month. Households that rent pay about 13.14% of their income on rent here. New Lancaster’s most expensive areas are in the eastern 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
- Elwood, IN: less expensive homes
- Rigdon, IN: higher priced homes
- Omega, IN: higher priced homes
- Frankton, IN: equally priced homes
- Hobbs, IN: higher priced homes
- Dundee, IN: equally priced homes
- Perkinsville, IN: higher priced homes
- Atlanta, IN: higher priced homes
- Orestes, IN: equally priced homes
- Leisure, IN: higher priced homes
Cities with Similar Populations
- Fishhook, IL: less expensive homes
- Thornton, WA: higher priced homes
- Thornfield, MO: higher priced homes
- Thompsons Store, TN: higher priced homes
- Thomas Mountain, CA: higher priced homes
- Thendara, NY: higher priced homes
- Thatcher, ID: higher priced homes
- Thane, AK: higher priced homes
- Freyburg, TX: higher priced homes
- Fourmile Hill, AR: less expensive homes
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