Lancaster, PA—17603
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 $300,000, with a year-over-year change of 3.1%. This indicates that home prices in Lancaster, PA are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $300,000 | 3.2% |
| Single Family | $302,000 | 3.4% |
| Condos | $255,000 | 1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $193,000 | 6.0% |
2 Bed | $241,000 | 3.4% |
3 Bed | $290,000 | 3.2% |
4 Bed | $386,000 | 3.5% |
| 5 Bed | $452,000 | 3.7% |
% of Housing Stock
Rental Trends — Lancaster, PA
As of July '25, Rentcast reports the average rent in Lancaster, PA is $1,530, with a year-over-year rent change of 5.5%. Per bedroom, the median rent as of July '25 in Lancaster, PA is studios: $935, 1-bedrooms: $1,260, 2-bedrooms: $1,570, 3-bedrooms: $1,750, 4-bedrooms: $2,070. The most common rental property sizes in Lancaster, PA are 2-bedroom and 1-bedroom, accounting for 32.4% and 29.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,450 | $1,530 |
| Studio Rent | $945 | $935 |
| 1 Bed Rent | $1,200 | $1,260 |
| 2 Bed Rent | $1,500 | $1,570 |
| 3 Bed Rent | $1,750 | $1,750 |
| 4 Bed Rent | $1,880 | $2,070 |
% 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 26. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time 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.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $302,000 | 1.0% |
Listing Count | 205 | 37.0% |
| Listings as % of Homes | 0.4% | 37.0% |
Days on Market | 26 | 1.0% |
Demographics — Lancaster, PA
As of the latest ACS Survey released in 2023, Lancaster, PA has a population of 66,800, which has increased by 3.6% over the past 5 years. Lancaster, PA is a moderately popular place for families, as children make up 21.8% of the population. The area has a moderately educated workforce, with 36.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 66,800 | 3.6% |
% Under 18 | 21.8% | -5.6% |
% Seniors | 16.1% | 11.0% |
% WFH | 9.8% | 188.2% |
% w/ College Degree | 36.7% | 22.3% |
As of the latest ACS Survey released in 2023, Lancaster, PA is a predominantly white area, with 57.7% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Lancaster, PA is hispanic, making up 26.7% of the population. Foreign-born residents account for 9.0% of the population in Lancaster, PA, and this percentage has decreased by 5.3% 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 | 57.7% | -1.0% |
% Black | 8.2% | -23.4% |
% Hispanic | 26.7% | 1.1% |
% Asian | 3.9% | 5.4% |
% Foreign Born | 9.0% | -5.3% |
Mortgage and Risk — Lancaster, PA
According to HUD data as of 2023, there were 1145 mortgage originations in Lancaster, PA, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Lancaster, PA. Investor activity is low, as 4.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,145 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Lancaster, PA
As of 2024, the percent of homes in Lancaster, PA under the Section 8 program is 11.3%. 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 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 and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,134 |
Total Units Section 8 | 1,134 |
% Rentals under Section 8 | 11.3% |
% Occupied Section 8 | 84.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $1,200 | $1,130 |
| 2 Bedroom | -$80 | $1,500 | $1,420 |
| 3 Bedroom | $100 | $1,750 | $1,850 |
| 4 Bedroom | $0 | $1,880 | $1,880 |
Affordability — Lancaster, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $300,000 |
| Median Household Income | $77,200 |