The housing market in Lancaster, NY is thriving. The median value of a house in the area is currently $292,100, which is significantly lower than the US median of $338,100. However, despite the lower value, the 1 year house appreciation rate in Lancaster is 10.83%, substantially higher than the 8.27% nationwide average. This indicates that investing in housing here will reap good returns over time. Furthermore, with an ever-growing population and economy, Lancaster appears to be an attractive place to invest in property for anyone looking to grow their real estate portfolio.
The median home cost in Lancaster is $292,100. Home appreciation the last 10 years has been 85.4%. Home Appreciation in Lancaster is up 13.0%.
Average Age of Homes
- The median age of Lancaster real estate is 43 years old
The Rental Market in Lancaster
- Renters make up 21.7% of the Lancaster population
- 0.9% 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.