Lancaster, SC 29720 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Lancaster, SC—29720

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$279,000

4.0% YoY Growth

Household Income

$59,000

44.6% YoY Growth

Days on Market

13.0% Longer YoY

Home Price Forecast

2.1%

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 — Lancaster, SC

As of Dec '25, the median home price in Lancaster, SC is $279,000, with a year-over-year change of -4.0%. This indicates that home prices in Lancaster, SC are decreasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$279,000	-4.0%
Single Family	$279,000	-3.8%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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.

Type	Median Rent	Average 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 Dec '25, Realtor.com reports that the median days on market for a home in Lancaster, SC is 60. This is a increase of 9.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$336,000	10.0%
Listing Count	313	38.0%
Listings as % of Homes	1.0%	38.0%
Days on Market	79	13.0%

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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.

Metric	Latest Census	YoY % Change
Population	51,600	8.0%
% 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

Metric	Latest Census	5-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

Metric	Zip 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 Size	HUD Premium	Market Rent	Max 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

Lancaster, SC—29720

Key Metrics at a Glance

Home Price Trends — Lancaster, SC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lancaster, SC

% of Rental Stock

Property Listings — Lancaster, SC

Demographics — Lancaster, SC

Race and Ethnicity

Mortgage and Risk — Lancaster, SC

Mortgages

Rentals and Section 8 — Lancaster, SC

Section 8 Market Size

Section 8 Opportunity

Affordability — Lancaster, SC

Home Price to Income Ratio

Lancaster, SC — ZIP Code Boundary Map

Nearby ZIP Codes

Waxhaw, NC

Heath Springs, SC

Fort Lawn, SC

Catawba, SC

Monroe, NC

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.7
Median Home Price	$279,000
Median Household Income	$59,000

Lancaster, SC—29720

Key Metrics at a Glance

Home Price Trends — Lancaster, SC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lancaster, SC

% of Rental Stock

Property Listings — Lancaster, SC

Demographics — Lancaster, SC

Race and Ethnicity

Mortgage and Risk — Lancaster, SC

Mortgages

Rentals and Section 8 — Lancaster, SC

Section 8 Market Size

Section 8 Opportunity

Affordability — Lancaster, SC

Home Price to Income Ratio

Lancaster, SC — ZIP Code Boundary Map

Nearby ZIP Codes

Waxhaw, NC

Heath Springs, SC

Fort Lawn, SC

Catawba, SC

Monroe, NC

Frequently Asked Questions

What is the average home price in Lancaster, SC 29720?

How have home prices in Lancaster, SC 29720 changed over the past year?

What is the home price projection for Lancaster, SC 29720?

What are the demographics of Lancaster, SC 29720?

How long does it take homes to sell in Lancaster, SC 29720?

What is the average rent price in Lancaster, SC 29720?