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Lancaster, PA—17602

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$309,000
3.6% YoY Growth
Household Income
$71,800
34.9% YoY Growth
Days on Market
44
17.0% Longer YoY
Home Price Forecast
3.1%
Median Rent
$1,500
14.9% YoY Growth
1-Bed Rent
$1,130
16.8% YoY Growth
2-Bed Rent
$1,580
6.7% YoY Growth
3-Bed Rent
$1,620
0.0% YoY Growth

Other Zip Codes in Lancaster, PA

1760317601
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Lancaster, PA

As of Dec '25, the median home price in Lancaster, PA is $309,000, with a year-over-year change of 3.6%. This indicates that home prices in Lancaster, PA are increasing. According to Zillow, the 1-year price projection is 3.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$309,0003.6%
Single Family $309,0003.7%
Condos $309,0003.0%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $210,000
    2.9%
    2 Bed
    		$256,0002.8%
    3 Bed
    		$298,0004.2%
    4 Bed
    		$400,0004.7%
    5 Bed $343,5353.9%
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    % of Housing Stock

    Studio
    2.8%
    1 Bedroom
    11.5%
    2 Bedrooms
    27.8%
    3 Bedrooms
    33.9%
    4 Bedrooms
    18.1%
    5+ Bedrooms
    5.8%

    Rental Trends — Lancaster, PA

    As of July '25, Rentcast reports the average rent in Lancaster, PA is $1,540, with a year-over-year rent change of 14.9%. Per bedroom, the median rent as of July '25 in Lancaster, PA is studios: $997, 1-bedrooms: $1,250, 2-bedrooms: $1,600, 3-bedrooms: $1,750, 4-bedrooms: $1,830. The most common rental property sizes in Lancaster, PA are 2-bedroom and 1-bedroom, accounting for 42.3% and 24.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,500$1,540
    Studio Rent $955$997
    1 Bed Rent $1,130$1,250
    2 Bed Rent $1,580$1,600
    3 Bed Rent $1,620$1,750
    4 Bed Rent $1,780$1,830
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    % of Rental Stock

    Studio
    6.6%
    1 Bedroom
    24.7%
    2 Bedrooms
    42.3%
    3 Bedrooms
    18.7%
    4 Bedrooms
    3.6%
    5+ Bedrooms
    4.0%

    Property Listings — Lancaster, PA

    As of Dec '25, Realtor.com reports that the median days on market for a home in Lancaster, PA is 36. This is a increase of 5.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$316,0004.0%
    Listing Count
    		935.0%
    Listings as % of Homes0.4%5.0%
    Days on Market
    		4417.0%
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    Demographics — Lancaster, PA

    As of the latest ACS Survey released in 2023, Lancaster, PA has a population of 51,500, which has remained stable by 0.8% over the past 5 years. Lancaster, PA is a moderately popular place for families, as children make up 22.0% of the population. The area has a moderately educated workforce, with 28.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		51,5000.8%
    % Under 18
    		22.0%-0.5%
    % Seniors
    		16.6%5.1%
    % WFH
    		8.0%135.3%
    % w/ College Degree
    		28.4%10.5%
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    As of the latest ACS Survey released in 2023, Lancaster, PA is a predominantly white area, with 52.0% of the population identifying as white. The white population has shrunk by 5.8% in the last 5 years. The second most common race or ethnicity in Lancaster, PA is hispanic, making up 32.4% of the population. Foreign-born residents account for 13.0% of the population in Lancaster, PA, and this percentage has increased by 35.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		52.0%-5.8%
    % Black
    		14.5%-0.7%
    % Hispanic
    		32.4%18.2%
    % Asian
    		2.0%-41.2%
    % Foreign Born
    		13.0%35.4%
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    Mortgage and Risk — Lancaster, PA

    According to HUD data as of 2023, there were 828 mortgage originations in Lancaster, PA, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Lancaster, PA. Investor activity is low, as 5.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		828
    % Conventional Loans
    		86.0%
    % Government Loans
    		14.0%
    % Investor Loans
    		5.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		7.0%
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    Rentals and Section 8 — Lancaster, PA

    As of 2024, the percent of homes in Lancaster, PA under the Section 8 program is 13.0%. 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. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Lancaster, PA, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		1,503
    Total Units Section 8
    		1,034
    % Rentals under Section 8
    		13.0%
    % Occupied Section 8
    		78.7%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$0$1,130$1,130
    2 Bedroom-$160$1,580$1,420
    3 Bedroom$230$1,620$1,850
    4 Bedroom$100$1,780$1,880

    Affordability — Lancaster, PA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.8
    Median Home Price$309,000
    Median Household Income$71,800

    Lancaster, PA — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Smoketown, PA

    17576

    Willow Street, PA

    17584

    Leola, PA

    17505

    Strasburg, PA

    17579

    Lancaster, PA

    17601

    Frequently Asked Questions