Lancaster County, Virginia Housing Market Prices
Lancaster County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 20% above the Virginia median$307,530
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Median rent 35% below the Virginia median$1,033
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lancaster County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $307,530 | $256,082 | $248,835 |
| Price Trend (Annual %) | 1.0% | 3.5% | 7.5% |
| Median Gross Rent | $1,033 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lancaster County is about 20% higher than in Virginia. Rent is about 35% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lancaster County, up about 1.0% and 3.2% a year respectively. Rent is changing faster.
Median rent in Lancaster County rose about 18.8% between 2015 and 2024, from $870 to $1,033. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Lancaster County.
Buying the median-priced home in Lancaster County costs roughly 24.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lancaster County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Lancaster County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $307,530 | $256,082 | $248,835 |
| Median Household Income | $71,726 | $93,527 | $80,455 |
| Price-to-Income Ratio | 4.3 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lancaster County fell about 20.4%, while median household income rose about 53.1% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lancaster County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.0% | 61.5% | 58.5% |
| Rental Rate | 14.1% | 29.8% | 31.2% |
| Vacancy Rate | 23.9% | 8.7% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Lancaster County has a homeownership rate of 62.0%, about the same as the Virginia average of 61.5%. Its housing vacancy rate is 23.9%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Lancaster County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.87 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1983 | 1982 | 1978 |
| Median Number of Rooms | 5.9 | 6.0 | 5.5 |
The typical housing unit in Lancaster County was built around 1983. On average, 1.9 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Lancaster County, VA Housing Compared With Nearby Counties
Lancaster County, VA is typical in size for this group, 10,936 residents against a local median of 12,188, so the measures below are close to a like for like comparison. Lancaster County, VA's median home price, at $307,530, runs 71% above the $180,357 typical of the counties around it.
The counties themselves spread $103,877 on median home price, so Lancaster County, VA sits at one end of an already wide local range rather than apart from it. Lancaster County, VA has the highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lancaster County, VA | 10,936 | $307,530 #1/4 | $1,033 #3/4 | 81.5% #3/4 |
| Northumberland County, VA | 12,188 | $129,375 | $1,038 | 86.1% |
| Gloucester County, VA | 39,526 | $180,357 | $1,096 | 80.4% |
| Mathews County, VA | 8,540 | $233,252 | $1,032 | 84.0% |
Frequently Asked Questions
Common questions about the housing market in Lancaster County, Virginia.
What is the median home price in Lancaster County, Virginia?
The median home price in Lancaster County, Virginia is $307,530, higher than the Virginia average of $256,082.
What is the average home price in Lancaster County, Virginia?
The typical home price in Lancaster County, Virginia, reported as the median sale price, is $307,530. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lancaster County, Virginia?
The median gross rent in Lancaster County, Virginia is $1,033 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Lancaster County in 2020?
In 2020, the median gross rent in Lancaster County, Virginia was $903 per month.
What is the price-to-rent ratio in Lancaster County, Virginia?
The price-to-rent ratio in Lancaster County, Virginia is about 24.8, meaning it would take roughly 24.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lancaster County.
Are home prices or rent rising faster in Lancaster County, Virginia?
Both home prices and rent are rising in Lancaster County, up about 1.0% and 3.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Lancaster County, Virginia?
62.0% of households in Lancaster County, Virginia own their home, higher than the Virginia average of 61.5%.
What is the vacancy rate in Lancaster County, Virginia?
The housing vacancy rate in Lancaster County, Virginia is 23.9%, higher than the Virginia average of 8.7%.
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