The housing market in Lancaster, PA is thriving. According to recent figures, the median value for a house in this area is $171,000 – significantly lower than the US House Median Value of $338,100. In addition, the 1 year house appreciation rate in Lancaster is 15.10%, higher than the US average of 8.27%. This indicates that investing in a property here could prove to be a wise decision for potential homeowners looking to benefit from real estate appreciation.
The median home cost in Lancaster is $171,000. Home appreciation the last 10 years has been 81.4%. Home Appreciation in Lancaster is up 15.6%.
Average Age of Homes
- The median age of Lancaster real estate is 78 years old
The Rental Market in Lancaster
- Renters make up 51.9% of the Lancaster population
- 1.4% 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.