The housing in Lancaster, MN is significantly more affordable than the US average. The median value of a house in Lancaster is $119,500 compared to the US median of $338,100. Additionally, Lancaster saw an increase in property values over the past year with an appreciation rate of 9.54%, which is higher than the US average of 8.27%. All this makes Lancaster a great place for potential home buyers who are looking for an affordable and appreciating market.
The median home cost in Lancaster is $119,500. Home appreciation the last 10 years has been 74.6%. Home Appreciation in Lancaster is up 14.7%.
Average Age of Homes
- The median age of Lancaster real estate is 52 years old
The Rental Market in Lancaster
- Renters make up 14.6% of the Lancaster population
- 2.2% of houses and apartments in Lancaster, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.