Lancaster, PA—17601
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lancaster, PA
As of Oct '25, the median home price in Lancaster, PA is $420,000, with a year-over-year change of 4.1%. This indicates that home prices in Lancaster, PA are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $420,000 | 4.1% |
| Single Family | $430,000 | 4.1% |
| Condos | $273,000 | 3.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $201,000 | 1.0% |
2 Bed | $296,000 | 4.2% |
3 Bed | $365,000 | 3.7% |
4 Bed | $536,000 | 5.1% |
| 5 Bed | $676,000 | 4.3% |
% of Housing Stock
Rental Trends — Lancaster, PA
As of July '25, Rentcast reports the average rent in Lancaster, PA is $2,110, with a year-over-year rent change of 17.2%. Per bedroom, the median rent as of July '25 in Lancaster, PA is studios: $1,500, 1-bedrooms: $1,440, 2-bedrooms: $1,860, 3-bedrooms: $2,370, 4-bedrooms: $2,920. The most common rental property sizes in Lancaster, PA are 2-bedroom and 1-bedroom, accounting for 37.4% and 30.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,980 | $2,110 |
| Studio Rent | $1,500 | $1,500 |
| 1 Bed Rent | $1,420 | $1,440 |
| 2 Bed Rent | $1,740 | $1,860 |
| 3 Bed Rent | $2,400 | $2,370 |
| 4 Bed Rent | $3,050 | $2,920 |
% of Rental Stock
Property Listings — Lancaster, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Lancaster, PA is 33. This is a decrease of -13.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $544,000 | 9.0% |
Listing Count | 114 | 9.0% |
| Listings as % of Homes | 0.4% | 9.0% |
Days on Market | 33 | -13.0% |
Demographics — Lancaster, PA
As of the latest ACS Survey released in 2023, Lancaster, PA has a population of 56,300, which has increased by 7.7% over the past 5 years. Lancaster, PA is a moderately popular place for families, as children make up 22.4% of the population. The area has a highly educated workforce, with 48.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 56,300 | 7.7% |
% Under 18 | 22.4% | 1.4% |
% Seniors | 21.9% | 5.3% |
% WFH | 14.6% | 210.6% |
% w/ College Degree | 48.1% | 8.8% |
As of the latest ACS Survey released in 2023, Lancaster, PA is a predominantly white area, with 77.7% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Lancaster, PA is hispanic, making up 9.7% of the population. Foreign-born residents account for 9.2% of the population in Lancaster, PA, and this percentage has increased by 5.7% 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 | 77.7% | -2.6% |
% Black | 3.8% | -15.6% |
% Hispanic | 9.7% | 6.6% |
% Asian | 6.1% | 19.6% |
% Foreign Born | 9.2% | 5.7% |
Mortgage and Risk — Lancaster, PA
According to HUD data as of 2023, there were 1170 mortgage originations in Lancaster, PA, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Lancaster, PA. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,170 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Lancaster, PA
As of 2024, the percent of homes in Lancaster, PA under the Section 8 program is 2.0%. 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, PA, 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 | 133 |
Total Units Section 8 | 133 |
% Rentals under Section 8 | 2.0% |
% Occupied Section 8 | 84.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,420 | $1,260 |
| 2 Bedroom | -$150 | $1,740 | $1,590 |
| 3 Bedroom | -$320 | $2,400 | $2,080 |
| 4 Bedroom | -$940 | $3,050 | $2,110 |
Affordability — Lancaster, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $420,000 |
| Median Household Income | $96,400 |