Total monthly cost of ownership
Cost to Own a Home in Lancaster, Texas
A $230,000 home here costs
$2,068per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,182. The real number is $885 higher every month — 75% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lancaster against Dallas County and Texas
| Measure | Lancaster | Dallas County |
|---|---|---|
| Median home value | $229,900 | $277,900 |
| Median property tax | $3,903 | $4,668 |
| Effective tax rate | 1.698% | 1.680% |
| Median gross rent | $1,627 | $1,469 |
| Population | 40,753 | 2,603,816 |
The weather behind that power bill
Lancaster sits in Dallas County, which averages a high of 97.1°F in its hottest month and a low of 37.9°F in its coldest, with 38.32" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 3,125 cooling and 1,992 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Dallas County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dallas County
Common questions
How much does it cost to own a home in Lancaster?
A $230,000 home in Lancaster, Texas costs approximately $2,068 per month with 20% down at 6.66%. That is $1,182 principal and interest, $325 property tax, $152 homeowners insurance, $216 utilities and $192 set aside for maintenance.
What is the property tax rate in Lancaster?
Lancaster has an effective property tax rate of 1.698%, based on a median home value of $229,900 and median real estate taxes of $3,903. That is higher than the Dallas County average of 1.680%.
What is the average home price in Lancaster?
The median owner-occupied home value in Lancaster, Texas is $229,900, against $277,900 across Dallas County.
Is it cheaper to rent or buy in Lancaster?
Median gross rent in Lancaster is $1,627 a month, against $2,068 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lancaster — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Texas.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.