Quick facts: Lancaster, OH

Quick Facts

96.4
Cost of Living
below US average
41,174
Population
24.04
Crime Rate per 1000
above US average
$52,716
Median Income
below US average
$259,900
Median House Price
above US average
$1555.19
Average Rent
above US average
12%
Poverty Rate
above US average
5.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $52,716.

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Income Needed to Buy

βœ— Stretch
$82k/year
Based on $259,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $82k vs median $52,716
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Income Needed to Rent

⚠ Stretch
$67k/year
Based on $1555.19/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $67k vs median $52,716
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lancaster, OH

Lancaster, Ohio, located in Fairfield County, is a charming city known for its rich history and vibrant community. Founded in 1800, it serves as the county seat and offers a blend of small-town charm and modern amenities. The city is characterized by its historic architecture, with many buildings reflecting the Greek Revival style. Lancaster is home to several parks and recreational areas, including the scenic Rising Park, which features beautiful walking trails and a stunning overlook of the city. The local arts scene is highlighted by the Lancaster Festival, an annual celebration of music and culture that attracts visitors from around the region. The downtown area offers a variety of shops, restaurants, and cultural attractions, including the Decorative Arts Center of Ohio, which showcases regional art and history. Additionally, Lancaster hosts a farmer's market, promoting local agriculture and community engagement. With a population of roughly 38,000, Lancaster provides a tight-knit community with a strong emphasis on family values and outdoor activities. Its location, just 30 miles southeast of Columbus, allows residents easy access to the amenities of a larger city while enjoying the peace of suburban living.

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