Cost of Living in Lancaster
The biggest cost-of-living factor in Lancaster, Massachusetts is housing. The median home is priced around $593K, or about $286 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $3,074, plus roughly $798 per month in property taxes. Rates and down payment change this figure significantly.
Lancaster's FY2025 residential property tax rate is $16.16 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Lancaster.