The housing conditions in 22503 Lancaster, VA are very desirable. The median value of a home in this area is $270,300 which is much lower than the US median value of $338,100. This makes homes in this area significantly more affordable for potential buyers. On top of that, it has seen a 1 year house appreciation rate of 13.12%, while the US average was 8.27%. This means that not only is buying a home in 22503 Lancaster, VA relatively affordable compared to other areas in the US, but it also provides homeowners with the potential to see higher returns on their investments due to increasing property values over time.
The median home cost in Lancaster (zip 22503) is $270,300. Home appreciation the last 10 years has been 75.5%. Home Appreciation in Lancaster (zip 22503) is up 15.5%.
Average Age of Homes
- The median age of Lancaster (zip 22503) real estate is 37 years old
The Rental Market in Lancaster (zip 22503)
- Renters make up 13.5% of the Lancaster (zip 22503) population
- 1.1% of houses and apartments in Lancaster (zip 22503), 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.