Housing Report for Lancaster

Lancaster may be described as having a medium proportion of residential real estate that is high priced. During the year 2005, the American Community Survey counted that 3.2 percent of the areas residential property was valued over $500k.

In the State of Pennsylvania, Lancaster places 4 of the 14 metro areas by percentage growth in residential real estate. The metro area is positioned 203 of 361, comparing the percentage change in residential real estate in other US MSAs.

Lancaster had a median home value in the year 2005 of $158,700, according to the American Community Survey. This value is greater than the Pennsylvania 2005 home value of $131,900 and less than home value of $167,500 across the nation during that year.

In Lancaster, the U.S. Census Bureau, Population Division accounted for a total of 190,744 housing structures in 2005. The metro area has seen a medium level of growth in the number housing units, adding all together 8,612 homes since 2001, or 4.7 percent.

The owner-occupied dwellings in Lancaster, Pennsylvania have seen large increases since the Census values accounted for in the year 2000. The values have increased by $39,400, or 33 percent, from their 2000 median values of $119,300.

There seems to be a fair amount of housing that is affordable in Lancaster, Pennsylvania. In 2005, 30 percent of residential real estate was valued under $125,000.

Data Source: U.S. Census Bureau

Employment Report for Lancaster, Pennsylvania -- Annual 2005 Industry Summary

Management of companies and enterprises has the largest businesses in Lancaster MSA, with the industry averaging 64 jobs per place of business. This is greater than the industry's average at the national level of 40 and greater than the Pennsylvania average of 56 for the Management of companies and enterprises industry.

In Lancaster, Manufacturing, Retail Trade, and the Health care and social assistance industries have the largest percent of jobs of all industries. The Manufacturing produces the largest number of jobs in the area accounting for 21.5 percent of the total MSA employment. This totals 44,623 employees. The Retail Trade and Health care and social assistance industries total 14.2 and 13.9 percent of total employment, respectively.

Management of companies and enterprises is an attractive industry due to its high level of job growth since the year 2001 in Lancaster, increasing by 141.5 percent. This is greater than the United States industry change in employment of 1.6 percent. The State of Pennsylvania went through a industry job change of 51.7 percent, in the duration of 2001 to 2005.

Manufacturing saw the largest loss of employment between the years 2001-2005 in the Lancaster Metro Area. The sector dealt with a loss of 8,485 jobs during the period, or 16 percent of the employment in the industry. This made up a total of 79.1 percent of the total loss in employment during the period.

A high-wage industry in Lancaster is the management of companies and enterprises sector with an annual pay of $71,679. Throughout the MSA since the year 2001, the annual average wages in the industry have grown by 2.9 percent or $2,020. The State of Pennsylvania holds a similar job market in the management of companies and enterprises sector, placing near the top of industries in term of the average annual pay of 2004.

In Lancaster, Manufacturing, Agriculture, forestry, fishing and hunting and Construction are the three industries with the highest location quotients. The Manufacturing sector in the county has a location quotient of 1.67. In other words, the percent of total jobs in the Manufacturing industry is 1.67 times more than the average percent in the United States, revealing signs that Lancaster produces more than its local requirement of products and/or services of Manufacturing.

The Manufacturing industry has decreased the most in industries presence in the Lancaster Metro Area, from the year 2001 to 2005, accounting for 26.6 percent of total jobs in the year 2001 to 21.5 percent of employment in 2005.



Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).