Lancaster, OH—43130
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lancaster, OH
As of Oct '25, the median home price in Lancaster, OH is $265,000, with a year-over-year change of 2.6%. This indicates that home prices in Lancaster, OH are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $265,000 | 2.6% |
| Single Family | $264,000 | 2.7% |
| Condos | $294,000 | 5.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $106,000 | -1.9% |
2 Bed | $184,000 | 3.4% |
3 Bed | $271,000 | 2.7% |
4 Bed | $365,000 | 2.5% |
| 5 Bed | $454,000 | 2.0% |
% of Housing Stock
Rental Trends — Lancaster, OH
As of July '25, Rentcast reports the average rent in Lancaster, OH is $1,390, with a year-over-year rent change of 18.8%. Per bedroom, the median rent as of July '25 in Lancaster, OH is studios: $947, 1-bedrooms: $990, 2-bedrooms: $1,100, 3-bedrooms: $1,880, 4-bedrooms: $2,330. The most common rental property sizes in Lancaster, OH are 2-bedroom and 3-bedroom, accounting for 46.9% and 23.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,390 |
| Studio Rent | $750 | $947 |
| 1 Bed Rent | $885 | $990 |
| 2 Bed Rent | $1,100 | $1,100 |
| 3 Bed Rent | $1,880 | $1,880 |
| 4 Bed Rent | $2,440 | $2,330 |
% of Rental Stock
Property Listings — Lancaster, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Lancaster, OH is 41. This is a increase of 21.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $310,000 | 10.0% |
Listing Count | 174 | -2.0% |
| Listings as % of Homes | 0.3% | -2.0% |
Days on Market | 41 | 21.0% |
Demographics — Lancaster, OH
As of the latest ACS Survey released in 2023, Lancaster, OH has a population of 62,400, which has increased by 1.9% over the past 5 years. Lancaster, OH is a moderately popular place for families, as children make up 21.1% of the population. The area has a poorly educated workforce, with 22.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 62,400 | 1.9% |
% Under 18 | 21.1% | -2.3% |
% Seniors | 19.1% | 8.5% |
% WFH | 8.5% | 226.9% |
% w/ College Degree | 22.8% | 22.6% |
As of the latest ACS Survey released in 2023, Lancaster, OH is a predominantly white area, with 91.4% of the population identifying as white. The white population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in Lancaster, OH is hispanic, making up 2.5% of the population. Foreign-born residents account for 1.3% of the population in Lancaster, OH, and this percentage has decreased by 7.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.4% | -1.5% |
% Black | 2.4% | 0.0% |
% Hispanic | 2.5% | 47.1% |
% Asian | 0.5% | -28.6% |
% Foreign Born | 1.3% | -7.1% |
Mortgage and Risk — Lancaster, OH
According to HUD data as of 2023, there were 1273 mortgage originations in Lancaster, OH, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Lancaster, OH. Investor activity is low, as 4.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,273 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Lancaster, OH
As of 2024, the percent of homes in Lancaster, OH under the Section 8 program is 15.6%. This is considered high, suggesting that the neighborhood is heavily 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, OH, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,337 |
Total Units Section 8 | 1,276 |
% Rentals under Section 8 | 15.6% |
% Occupied Section 8 | 81.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $85 | $885 | $970 |
| 2 Bedroom | $80 | $1,100 | $1,180 |
| 3 Bedroom | -$460 | $1,880 | $1,420 |
| 4 Bedroom | -$860 | $2,440 | $1,580 |
Affordability — Lancaster, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $265,000 |
| Median Household Income | $68,200 |