Lancaster, MN
Population 344 · Minnesota
About Lancaster, MN
Lancaster is a small community located in Minnesota with a population of 344 residents according to the latest US Census Bureau American Community Survey data. The median household income is $65,313 per year, which is 13% below the national median of $75,149. The median age of 47 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lancaster features a median home value of $118,200, which is 52% below the national median of $244,900. This makes Lancaster one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $680, 42% below the national average of $1,163/month. Of the 191 total housing units, 77% are owner-occupied (118 units) and 23% are renter-occupied (35 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lancaster shows an unemployment rate of 1.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lancaster have an average one-way commute time of 20.4 minutes.
Education & Demographics
23.9% of Lancaster residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 2.9% Hispanic or Latino, 0.0% Black or African American, and 2.9% Asian residents, with 3.5% of the population being foreign-born.
Cost of Living in Lancaster, MN
Compared to national averages, Lancaster has a median household income of $65,313 (13% below the national median of $75,149). Home values average $118,200, which is 52% below the national median. Monthly rent at $680 is 42% below the US average of $1,163. Within Minnesota, Lancaster's income is 12% below the state average of $74,221, and home values are 42% below the state median of $204,472.
Why Live in Lancaster, MN?
Lancaster offers affordable housing with a median home value of $118,200, below the US average of $244,900, and rent that’s lower than the national average at $680/month, and a strong job market with an unemployment rate of just 1.3%. Additionally, the city features a low poverty rate of 2.3%, better than the national average, and short commute times averaging just 20.4 minutes.
Potential considerations include median household income ($65,313) that falls below the national average. However, Lancaster’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lancaster has a population of 344 with a median age of 47 years. Compare Lancaster with other cities to see how it stacks up, or explore all cities in Minnesota.
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Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Lancaster
What is the population of Lancaster, MN?
The population of Lancaster, MN is 344 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Minnesota.
What is the median household income in Lancaster?
The median household income in Lancaster, MN is $65,313 per year, which is 13% below the national median of $75,149.
What is the median home value in Lancaster?
The median home value in Lancaster, MN is $118,200, which is 52% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lancaster?
The median monthly rent in Lancaster, MN is $680, which is 42% below the national average of $1,163/month.
What is the unemployment rate in Lancaster?
The unemployment rate in Lancaster, MN is 1.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lancaster, MN a good place to live?
Lancaster offers a moderate cost of living, affordable housing, and a strong job market. With a population of 344 and a median age of 47, the city appeals to established professionals and retirees.
How educated is Lancaster, MN?
23.9% of residents in Lancaster aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Lancaster?
Key cost-of-living indicators for Lancaster, MN: median home value is $118,200 (52% below national), median rent is $680/month, and median household income is $65,313. The home-value-to-income ratio is 1.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lancaster?
The poverty rate in Lancaster, MN is 2.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lancaster, MN?
Lancaster's population is 0.0% White, 2.9% Hispanic or Latino, 0.0% Black or African American, 2.9% Asian, and 0.0% two or more races. 3.5% of residents are foreign-born.