Mortgage payment estimates, closing cost breakdowns, and homebuying data for Lancaster, Pennsylvania.
Pre-filled with Lancaster median home price and Pennsylvania tax/insurance rates. Adjust for your property.
Estimated closing costs based on Pennsylvania rates and fees applied to Lancaster prices.
The median home price in Lancaster is $225,000, 20% below the Pennsylvania state median of $280,000. With a population of 63,696, Lancaster is a smaller market where home prices tend to be more accessible than in many parts of Pennsylvania.
Property taxes in Pennsylvania average 1.36% annually. This moderate property tax rate means a $225,000 home in Lancaster would carry roughly $255/month in property taxes. Homeowners insurance in Pennsylvania runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Lancaster is $1,150/month. The price-to-rent ratio in Lancaster is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Lancaster offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Pennsylvania's PHFA Keystone Advantage program.