Lancaster appreciation rates and housing market information

Lancaster housing market information

With 25,893 people, 9,615 houses or apartments, and a median cost of homes of $119,592, house prices in Lancaster are solidly below the national average.

single-family detached homes are the single most common housing type in Lancaster, accounting for 72.00% of the city's housing units. Other types of housing that are prevalent in Lancaster include large apartment complexes or high rise apartments (18.56%), duplexes, homes converted to apartments, or other small apartment buildings (4.41%), row houses and other attached homes (3.13%), and a few mobile homes or trailers (1.81%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Lancaster. Owner-occupied housing accounts for 63.11% of Lancaster's homes, and 59.71% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lancaster built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lancaster built from 1940-1969 (27.91%). A lesser amount of the housing stock also hails from 1995 and later (12.98%), and some were built from 1939 and earlier (12.98%).

Lancaster home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Lancaster, where house values have increased just 25.18%, which is an average annual increase of 2.51%. NeighborhoodScout's data show that in the latest quarter, Lancaster house values appreciated 0.13%, which is an annualized rate of 0.52%. This rate is lower than the appreciation rate found in 60% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Lancaster home appreciation rates, at 0.10%, have been at or slightly above the national average. In the latest quarter, Lancaster's appreciation rate has been 0.13%, which annualizes to a rate of 0.52%.

Relative to Texas, our data show that Lancaster's latest annual appreciation rate is higher than 6% of the other cities and towns in Texas.