The average property price in the city, according to the latest UK House Price index, is £165,575 – still well below the average price for England of £266,742.
And online property website Zoopla has plenty of homes available for much less, offering plenty of value for money.
Tom Parker, Zoopla consumer spokesman, said: “The historic City of Lancaster has a lot to offer home hunters. Not only is it close to the Lake District and Morecambe Bay, but there are also high-quality schools and one of the UK’s best universities on its doorstep.
“Lancaster also offers great value and for less than £125,000, it’s possible to purchase a three-bed property, something that’s hard to find in many parts of the UK.”
Here are 13 properties currently for sale in Lancaster for less than £125,000.