The typical owner-occupied home in Lanesboro is worth about $112,200, 56% below the Pennsylvania median of $254,500 and 66% below the national median of $332,700. Owners pay a median $2,396 a year in property taxes, about 2.14% of their home's value, higher than the Pennsylvania rate of 1.30%. The median household earns $35,000 a year, so the median home costs 3.2 times the median income (3.3 times for Pennsylvania). 57% of occupied homes here are lived in by their owners, and 34% of those owners still have a mortgage.
Lanesboro at a glance
| Lanesboro | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $112,200 | $254,500 | $332,700 |
| Median property tax paid per year | $2,396 | $3,311 | $3,119 |
| Property tax as a share of value | 2.14% | 1.30% | 0.94% |
| Median household income | $35,000 | $77,971 | $80,734 |
| Homes lived in by their owners | 57% | 69% | 65% |
| Owner homes with a mortgage | 34% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,288 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 19.5% | 19.4% | 21.0% |
| Median rent | $1,094 | $1,209 | $1,413 |
| Rent as a share of renters' income | 51.0% | 29.2% | 30.6% |
| Median year homes were built | 1952 | 1965 | 1980 |
| Vacant homes | 16.5% | 9.2% | 10.1% |
| Population | 669 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Lanesboro
At this week's average 30-year rate of 7.11%, buying the median Lanesboro home of $112,200 with 20% down costs about $851 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,038, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $36,457 for the 20%-down payment. That payment is 29% of the median Lanesboro household income of $35,000; at that income and 20% down, the 28% guideline points to a home of about $108,000.
The median rent here is $1,094 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $22,440 |
|---|---|
| Loan amount | $89,760 |
| Principal and interest | $604 |
| Property taxes (2.14% a year) | $200 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $851 |
Change the numbers in the calculator
| Down payment | $3,927 |
|---|---|
| Loan amount | $110,168 |
| Principal and interest | $741 |
| Property taxes (2.14% a year) | $200 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $50 |
| Total per month | $1,038 |
Change the numbers in the calculator
Questions about home buying in Lanesboro
What is the median home value in Lanesboro?
About $112,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lanesboro?
Homeowners pay a median $2,396 a year, which is about 2.14% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Lanesboro?
For the median home with 20% down at 7.11%, the payment is about $851 a month. Keeping that under 28% of gross income takes about $36,457 a year.
More about Lanesboro
- Mortgage Refinance in Lanesboro
- Debt Relief in Lanesboro
- Home Equity Loans in Lanesboro
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data