Housing in Lancaster

A typical Lancaster home is worth roughly $258,000

Typical home value

$258K

IN $260K

Estimate

2-bedroom rent

$1,020

a month, utilities in · HUD

Median tax bill

$1,070

IN $1,614

Affordability

A typical home costs 3.2 years of income

Less than across Indiana (3.6 years). Try your own numbers below.

You could afford about

$334,000

Typical Lancaster home $258K

That covers a typical Lancaster home, with $76K to spare.

The typical home, each month

$1,440

Loan $1,280Tax $90Insurance $80

A two-bedroom rents for about $1,020 a month here, $420 less than owning.

Where your budget reaches nearby

Monroe$305K Graham$230K Lovett$228K Montgomery$188K

How Lancaster ranks on affordability →

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Lancaster’s typical property tax (0.41% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Renting

A two-bedroom rents for about $1,020

Renters already here pay a median of $821, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$710

1 bedroom$850

2 bedrooms$1,020

3 bedrooms$1,320

4 bedrooms$1,650

12%

of households rent · IN 29%

renter households

50%

of renters spend 30%+ of income on rent · IN 48%

15%

of the median income, for a two-bedroom

$821

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Jefferson County, IN): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

The homes

1 of Lancaster’s houses are on the National Register

Half of Lancaster’s homes were built before 1971.

History →

Owners and renters

Own 88%Rent 12%

Indiana: 71% own.

1971

typical home built · IN 1976

$1,070

median property tax bill · IN $1,614

0.41%

of a home’s value, a year in tax · IN 0.74%

10%

of homes are seasonal or vacation homes

Historic houses in Lancaster

Lyman and Asenath Hoyt HouseListed 2003

U.S. Census Bureau, American Community Survey 2020-2024. Historic houses: National Register of Historic Places.

Next door

Lancaster vs. its neighbors

Lancaster is the 2nd priciest of 5 neighboring towns. Tap one to see its housing page.

Monroe$305K Lancaster$258K Graham$230K Lovett$228K Montgomery$188K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Lancaster	$258K*	—	$1,020	$79,750
Monroe	$305K*	+5.4%†	$960	$46,646
Graham	$230K*	—	$1,010	$78,292
Smyrna	—	+5.4%†	$960	$71,250
Lovett	$228K*	+8.9%†	$970	$93,864
Montgomery	$188K*	—	$960	$92,747

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Lancaster buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Lancaster still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Historic houses: National Register of Historic Places. Listings link to their publishers. The calculator is an estimate, not a loan offer.