Lancaster, Texas Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Lancaster, Texas rental market.
Lancaster, Texas
Average Apartment Rent
$1,272
Y-o-Y Change in Average
Apartment Rent
0.2%
As of July 2024
Compared to a year ago, Lancaster, Texas apartments have recorded a 0.2% rent increase.
Lancaster, Texas |Average apartment rent trend
Lancaster, Texas| Average apartment rent
Lancaster, Texas | Apartment rent ranges
At 68.78%, apartments priced $1,000 - $1,500 represent the bulk of Lancaster, Texas rentals, while condos priced Over $2,000 hold the lowest share of the market – 1.17%.
Lancaster, Texas | Housing tenure**
Renters take up 36% of Lancaster, Texas real estate, occupying a total of 5,049 units, while homeowners live in 9,003 properties.
Median number of rooms of renter-occupied housing units**
4.6
Renter median household income**
$45,412
Average household size of renter-occupied housing units**
2.84
Rental vacancy rate**
8.3%
Lancaster, Texas | Renter-occupied housing units by no. of bedrooms**
There are 2,118 rentals in Lancaster, Texas with 2 beds making up the highest share of the market, at 42%. Units with No bedrooms, on the other hand, hold the lowest percentage (1%), amounting to 40 units. Overall, the median number of rooms in Lancaster, Texas homes for rent is 4.6.
Lancaster, Texas |Renter-occupied units by age of householder**
Most condos for rent in Lancaster, Texas are occupied by residents in the 25 - 34 years age group (43%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 1%.
Lancaster, Texas | Renter-occupied housing units by family type**
Lancaster, Texas | Renter-occupied housing units by the presence of own children**
A total of 3,677 apartments for rent in Lancaster, Texas, or 73% of all rentals are family households. Additionally, 58% of rental homes include children under the age of 18 – that’s 2,926 units. All in all, the median size of a renter-occupied household in Lancaster, Texas is 2.84.
Lancaster, Texas | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 18% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Lancaster, Texas.
Lancaster, Texas | Renter-occupied units by year structure built**
The highest share of Lancaster, Texas apartment rentals, namely 26% or 1,337 units, were Built 1990 - 1999, followed by those Built 1980 - 1989 (22%, 1,129 units), and the ones Built 1970 - 1979 (17%, 842 units).
Lancaster, Texas | Renter-occupied units by year householder moved in**
Median year renter moved into unit2018
Most Lancaster, Texas renters (42%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Lancaster, Texas condos for rent is 2018.
Lancaster, Texas | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 46% of Lancaster, Texas renters have 1 vehicle available per household, 30% of them have 2 vehicles available, and 13% have 3 vehicles available.
Lancaster, Texas | Means of transportation to work of householders living in renter-occupied housing units**
Lancaster, Texas |Geographical mobility in the past year for householders living in renter-occupied housing units**
Lancaster, Texas | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Lancaster, Texas apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
