Lancaster became popular for its relatively low home prices. Near 70% of all residents in Lancaster own their home. Still, Lancaster has participated in the California real estate boom, and the average home price in Lancaster increased 26.4% between 2003 and 2004. The Antelope Valley in Southern California has been coined "The Valley" for over a century. It is the subject of books, movies, and other Los Angeles lore. Lancaster is located at the southern tip of The Valley, about an hour north of Los Angeles.
The California Poppy Festival brings 60,000 visitors each year, about half of Lancaster's total population. Otherwise, Lancaster's main draw is its affordable housing and proximity to Los Angeles and the industry there.
The biggest industry in Lancaster is transportation and distribution; chain stores like Rite Aid and Michael's have placed large centers there. Other major industries in Lancaster include:
- Education
- Manufacturing
- Retail
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