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These days, finding an affordable place to live in the Lexington area can be challenging. Home prices in Lexington are now at a median cost of $1,276,922, higher than the Massachusetts average of $625,090.
The average cost of rent is $2,896/mo in Lexington, primarily driven by the current value of real estate in the Lexington area. In Lexington, 19.37% of households rent, and 40.76% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lexington is $18,488 per month. Households that rent pay about 15.66% of their income on rent here. Lexington’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Hanscom Afb, MA: equally priced homes
- Arlington, MA: less expensive homes
- Winchester, MA: equally priced homes
- Waltham, MA: less expensive homes
- Bedford, MA: less expensive homes
- Burlington, MA: less expensive homes
- Belmont, MA: equally priced homes
- Woburn, MA: less expensive homes
- Lincoln, MA: equally priced homes
- Watertown Town, MA: less expensive homes
Cities with Similar Populations
- Bel Air North, MD: less expensive homes
- Montrose, CO: less expensive homes
- SeaTac, WA: less expensive homes
- Saratoga, CA: higher priced homes
- Santa Paula, CA: less expensive homes
- Pearl, MS: less expensive homes
- Pasadena, MD: less expensive homes
- Orange, NJ: less expensive homes
- Ooltewah, TN: less expensive homes
- North Olmsted, OH: less expensive homes
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