Quick facts: Lancaster, SC

Quick Facts

102.3
Cost of Living
above US average
104,577
Population
1.7
Crime Rate per 1000
below US average
$72,186
Median Income
below US average
$373,900
Median House Price
above US average
$1858.75
Average Rent
above US average
10%
Poverty Rate
below US average
4.7%
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 $72,186.

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Income Needed to Buy

βœ— Stretch
$117k/year
Based on $373,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $117k vs median $72,186
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Income Needed to Rent

⚠ Stretch
$80k/year
Based on $1858.75/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $80k vs median $72,186
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lancaster, SC

Lancaster, South Carolina, is a charming city located in the north-central part of the state, known for its rich history and friendly community. Established in the late 18th century, it serves as the county seat of Lancaster County. The city offers a mix of historical attractions, including the Olde Lancaster County Courthouse and several preserved antebellum homes, providing insights into its past. Lancaster's downtown area features a variety of local shops, restaurants, and parks, making it a pleasant place for residents and visitors alike. The city hosts several annual events and festivals that celebrate its heritage and community spirit. Outdoor enthusiasts can enjoy activities at nearby Andrew Jackson State Park, which offers hiking, fishing, and historical exhibits. Lancaster is conveniently located about 40 miles south of Charlotte, North Carolina, allowing for easy access to a larger metropolitan area while retaining its small-town charm. This blend of history, community, and accessibility makes Lancaster an appealing place to live and visit.

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