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Lancaster, SC—29720

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$291,000
2.2% YoY Growth
Household Income
$59,000
44.6% YoY Growth
Days on Market
57
31.0% Longer YoY
Home Price Forecast
-0.1%
Median Rent
$1,500
5.4% YoY Growth
1-Bed Rent
$850
17.5% YoY Growth
2-Bed Rent
$975
6.4% YoY Growth
3-Bed Rent
$2,000
14.4% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Lancaster, SC

As of May '26, the median home price in Lancaster, SC is $291,000, with a year-over-year change of -2.2%. This indicates that home prices in Lancaster, SC are decreasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$291,000-2.2%
Single Family $291,000-1.7%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$208,0000.5%
    3 Bed
    		$308,0000.3%
    4 Bed
    		$457,000-1.7%
    5 Bed $571,416-2.2%
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    % of Housing Stock

    Studio
    0.3%
    1 Bedroom
    2.6%
    2 Bedrooms
    25.9%
    3 Bedrooms
    53.9%
    4 Bedrooms
    14.5%
    5+ Bedrooms
    2.8%

    Rental Trends — Lancaster, SC

    As of July '25, Rentcast reports the average rent in Lancaster, SC is $1,580, with a year-over-year rent change of -5.4%. Per bedroom, the median rent as of July '25 in Lancaster, SC is studios: $750, 1-bedrooms: $860, 2-bedrooms: $1,050, 3-bedrooms: $2,060, 4-bedrooms: $2,920. The most common rental property sizes in Lancaster, SC are 2-bedroom and 3-bedroom, accounting for 54.5% and 26.8% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,500$1,580
    Studio Rent $750$750
    1 Bed Rent $850$860
    2 Bed Rent $975$1,050
    3 Bed Rent $2,000$2,060
    4 Bed Rent $2,820$2,920
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    % of Rental Stock

    Studio
    1.6%
    1 Bedroom
    8.9%
    2 Bedrooms
    54.5%
    3 Bedrooms
    26.8%
    4 Bedrooms
    7.9%
    5+ Bedrooms
    0.4%

    Property Listings — Lancaster, SC

    As of May '26, Realtor.com reports that the median days on market for a home in Lancaster, SC is 57. This is a increase of 31.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$369,0000.0%
    Listing Count
    		40920.0%
    Listings as % of Homes1.0%20.0%
    Days on Market
    		5731.0%
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    Demographics — Lancaster, SC

    As of the latest ACS Survey released in 2023, Lancaster, SC has a population of 51,600, which has increased by 8.0% over the past 5 years. Lancaster, SC is a moderately popular place for families, as children make up 20.9% of the population. The area has a poorly educated workforce, with 22.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		51,6008.0%
    % Under 18
    		20.9%-5.4%
    % Seniors
    		19.7%13.9%
    % WFH
    		8.6%207.1%
    % w/ College Degree
    		22.2%52.1%
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    As of the latest ACS Survey released in 2023, Lancaster, SC is a predominantly white area, with 62.1% of the population identifying as white. The white population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in Lancaster, SC is black, making up 26.2% of the population. Foreign-born residents account for 5.8% of the population in Lancaster, SC, and this percentage has increased by 75.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		62.1%-0.8%
    % Black
    		26.2%-10.3%
    % Hispanic
    		8.3%59.6%
    % Asian
    		0.7%-12.5%
    % Foreign Born
    		5.8%75.8%
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    Mortgage and Risk — Lancaster, SC

    According to HUD data as of 2023, there were 1247 mortgage originations in Lancaster, SC, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Lancaster, SC. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		1,247
    % Conventional Loans
    		70.0%
    % Government Loans
    		30.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		13.0%
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    Rentals and Section 8 — Lancaster, SC

    As of 2024, the percent of homes in Lancaster, SC under the Section 8 program is 9.8%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Lancaster, SC, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		605
    Total Units Section 8
    		449
    % Rentals under Section 8
    		9.8%
    % Occupied Section 8
    		90.6%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$90$850$940
    2 Bedroom$75$975$1,050
    3 Bedroom-$570$2,000$1,430
    4 Bedroom-$1,240$2,820$1,580

    Affordability — Lancaster, SC

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.8
    Median Home Price$291,000
    Median Household Income$59,000

    Lancaster, SC — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Waxhaw, NC

    28173

    Heath Springs, SC

    29058

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    29714

    Catawba, SC

    29704

    Monroe, NC

    28112

    Frequently Asked Questions