A typical Lancaster home is worth roughly $293,000
Home prices around Lancaster have risen about 57% over the past 5 years.
What kind of housing town is Lancaster?
Read from the numbers below. The page puts what stands out first.
95% of Lancaster households own their home
Half of Lancaster’s homes were built before 1969.
Indiana: 71% own.
U.S. Census Bureau, American Community Survey 2020-2024.
Home prices up 57% in 5 years
The federal house price index for the ZIP codes around Lancaster rose 57% over the past 5 years, faster than across Indiana (53%). Last year prices rose 1.5%. Carrying the Census median home value forward with that index puts the typical Lancaster home at roughly $293,000 today.
Carrying the Census median forward with the index puts a typical home at about $293K.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Lancaster, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A typical home costs 3.3 years of income
About the same as across Indiana. Try your own numbers below.
That covers a typical Lancaster home, with $67K to spare.
A two-bedroom rents for about $970 a month here, $700 less than owning.
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 (0.56% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $970
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Fort Wayne, IN HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Lancaster vs. its neighbors
Lancaster is the priciest of 4 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Lancaster | $293K* | +1.5%† | $970 | $88,182 |
| Jefferson | $187K* | — | $1,090 | $68,375 |
| Rock Creek | $183K* | +2.4%† | $980 | $77,100 |
| Huntington | $202K | +5.2% | $960 | $59,619 |
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.
Your answer becomes a post in Town Square.
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. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.