Lancaster, Texas Rental Market Trends

Disclaimer:

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

$1,280

Y-o-Y Change in Average
Apartment Rent

3.7%

As of November 2024

Compared to a year ago, Lancaster, Texas apartments have recorded a 3.7% rent increase.

Lancaster, Texas Average apartment rent trend

Median Rent Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024 Nov 2024
Lancaster $1,084 $1,127 $1,202 $1,218 $1,235 $1,269 $1,234 $1,255 $1,272 $1,280
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
Lancaster
National
Nov 2021
$1,084
$1,596
Mar 2022
$1,127
$1,635
Jul 2022
$1,202
$1,708
Nov 2022
$1,218
$1,726
Mar 2023
$1,235
$1,714
Jul 2023
$1,269
$1,739
Nov 2023
$1,234
$1,733
Mar 2024
$1,255
$1,727
Jul 2024
$1,272
$1,752
Nov 2024
$1,280
$1,748

Lancaster, Texas Average Apartment Rent

Lancaster, Texas Apartment rent ranges

Under $500
$501 - $700
$701 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

At 59.22%, 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**

Renter occupied housing units 5,049
Owner occupied housing units 9,003

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**

No bedrooms 40
1 bed 523
2 beds 2,118
3 beds 1,712
4 beds 524
5 or more beds 132

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**

15 - 24 years 74
25 - 34 years 2,185
35 - 44 years 1,023
45 - 54 years 751
55 - 59 years 118
60 - 64 years 288
65 - 74 years 455
75 - 84 years 131

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**

Family households 3,677
Non-Family Households 1,372

Lancaster, Texas Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 2,926
No related children of the householder under 18 2,123

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**

Less than high school graduate 419
High school graduate (including equivalency) 1,647
Some college or associate's degree 2,079
Bachelor's degree or higher 904

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**

Built 2010 - 2019 131
Built 2000 - 2009 695
Built 1990 - 1999 1,337
Built 1980 - 1989 1,129
Built 1970 - 1979 842
Built 1960 - 1969 383
Built 1950 - 1959 211
Built 1940 - 1949 266
Built 1939 or earlier 55

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**

Moved in 2021 or later 543
Moved in 2018 to 2020 2,124
Moved in 2010 to 2017 2,029
Moved in 2000 to 2009 219
Moved in 1990 to 1999 100
Moved in 1989 or earlier 34

Median year renter moved into unit 2018

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**

No vehicle available 490
1 vehicle available 2,320
2 vehicles available 1,522
3 vehicles available 660
4 or more vehicles available 57

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**

Car, truck, or van - drove alone 4,266
Car, truck, or van - carpooled 812
Public transportation (excluding taxicab) 66
Taxicab, motorcycle, bicycle, or other means 223
Worked at home 212

Lancaster, Texas Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 9,791
Moved within same county 3,416
Moved from different county within same state 519
Moved from abroad 167

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

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