Home›Tennessee›Lancaster
📍 Lancaster, TN · Zillow ZHVI · July 2026

Average Home Price in
Lancaster, TN

Nashville-Davidson--Murfreesboro--Franklin, TN metro area · Smith County County

Median Home Value
$268,247
↓ 0.2% year-over-year
vs. National Median
$410,000
Lancaster is 35% below
Est. Monthly Payment
$1,399/mo
20% down · 6.8% rate
Income Needed
$71K
gross annual (30% rule)
Median Home Value
$268,247
↓ 0.2% year-over-year
Down Payment (20%)$53,649
Monthly P&I$1,399/mo
With Taxes & Ins.~$1,777/mo
Income Needed$71,080/yr
Data SourceZillow ZHVI
Market Overview

Home Prices in Lancaster, TN

The median home value in Lancaster, TN is $268,247 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.2% compared to a year ago and up 0% from two years prior.

Compared to the U.S. national median of $410,000, homes in Lancaster are priced35% below average. Lancaster is part of the Nashville-Davidson--Murfreesboro--Franklin, TN metro area.

City Comparison

Lancaster vs. National Median

🏠 Lancaster
$268,247
National Median
$410,000

At $268,247, homes in Lancaster cost 35% below the national median of $410,000. This makes Lancaster a relatively affordable market for buyers seeking value.

Affordability

What Does It Cost to Buy in Lancaster?

20% Down Payment
$53,649
on $268,247
Monthly P&I
$1,399/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,777/mo
incl. taxes & insurance
Income Needed
$71,080
gross annual (30% rule)
10% Down Option
$26,825
+ PMI applies
Loan Amount (20% dn)
$214,598
at current rates

Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.

FAQ

Frequently Asked Questions

What is the average home price in Lancaster, TN?
The median home value in Lancaster is $268,247 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.2% year-over-year.
How much have home prices changed in Lancaster?
Over the past year, home values in Lancaster have decreased by 0.2%.
How much do I need to earn to buy a home in Lancaster?
To comfortably afford the median home price of $268,247 with a 20% down payment ($53,649) at today's rates (6.8%), you'd need a gross annual income of approximately $71,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Lancaster compare to the national average home price?
The national median home value is approximately $410,000. At $268,247, homes in Lancaster are 35% below the national average.
What metro area is Lancaster part of?
Lancaster is part of the Nashville-Davidson--Murfreesboro--Franklin, TN metropolitan area. Home prices and market conditions can vary across the broader metro region.