Lancaster, NY—14086
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lancaster, NY
As of Oct '25, the median home price in Lancaster, NY is $368,000, with a year-over-year change of 3.8%. This indicates that home prices in Lancaster, NY are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $368,000 | 3.8% |
| Single Family | $371,000 | 3.9% |
| Condos | $252,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $267,000 | 2.7% |
3 Bed | $343,000 | 3.6% |
4 Bed | $493,000 | 5.1% |
| 5 Bed | $440,000 | 4.3% |
% of Housing Stock
Rental Trends — Lancaster, NY
As of July '25, Rentcast reports the average rent in Lancaster, NY is $1,630, with a year-over-year rent change of -14.7%. Per bedroom, the median rent as of July '25 in Lancaster, NY is 1-bedrooms: $1,450, 2-bedrooms: $1,480, 3-bedrooms: $1,880, 4-bedrooms: $2,750. The most common rental property sizes in Lancaster, NY are 2-bedroom and 1-bedroom, accounting for 53.9% and 23.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,630 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,470 | $1,450 |
| 2 Bed Rent | $1,500 | $1,480 |
| 3 Bed Rent | $1,920 | $1,880 |
| 4 Bed Rent | $2,750 | $2,750 |
% of Rental Stock
Property Listings — Lancaster, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Lancaster, NY is 51. This is a increase of 25.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $417,000 | 6.0% |
Listing Count | 111 | 6.0% |
| Listings as % of Homes | 0.4% | 6.0% |
Days on Market | 51 | 25.0% |
Demographics — Lancaster, NY
As of the latest ACS Survey released in 2023, Lancaster, NY has a population of 35,700, which has increased by 9.1% over the past 5 years. Lancaster, NY is a moderately popular place for families, as children make up 19.8% of the population. The area has a moderately educated workforce, with 39.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,700 | 9.1% |
% Under 18 | 19.8% | -12.0% |
% Seniors | 20.4% | 27.5% |
% WFH | 9.9% | 200.0% |
% w/ College Degree | 39.3% | 10.1% |
As of the latest ACS Survey released in 2023, Lancaster, NY is a predominantly white area, with 94.9% of the population identifying as white. The white population has shrunk by 0.7% in the last 5 years. The second most common race or ethnicity in Lancaster, NY is black, making up 1.4% of the population. Foreign-born residents account for 3.2% of the population in Lancaster, NY, and this percentage has increased by 10.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 94.9% | -0.7% |
% Black | 1.4% | 7.7% |
% Hispanic | 1.0% | -52.4% |
% Asian | 0.8% | 60.0% |
% Foreign Born | 3.2% | 10.3% |
Mortgage and Risk — Lancaster, NY
According to HUD data as of 2023, there were 594 mortgage originations in Lancaster, NY, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Lancaster, NY. Investor activity is low, as 0.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 594 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Lancaster, NY
As of 2024, the percent of homes in Lancaster, NY under the Section 8 program is 8.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Lancaster, NY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 263 |
Total Units Section 8 | 197 |
% Rentals under Section 8 | 8.2% |
% Occupied Section 8 | 94.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$500 | $1,470 | $970 |
| 2 Bedroom | -$360 | $1,500 | $1,140 |
| 3 Bedroom | -$530 | $1,920 | $1,390 |
| 4 Bedroom | -$1,170 | $2,750 | $1,580 |
Affordability — Lancaster, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $368,000 |
| Median Household Income | $95,900 |