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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 $286,730, lower than the Virginia average of $443,089.
The average cost of rent is $1,080/mo in Lexington, primarily driven by the current value of real estate in the Lexington area. In Lexington, 34.43% of households rent, and 45.90% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lexington is $6,578 per month. Households that rent pay about 16.42% of their income on rent here. Lexington’s most expensive areas are in the western regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- East Lexington, VA: equally priced homes
- Kerrs Creek, VA: higher priced homes
- Riverside, VA: less expensive homes
- Buena Vista, VA: less expensive homes
- Timber Ridge, VA: less expensive homes
- Buffalo Forge, VA: equally priced homes
- Rockbridge Baths, VA: less expensive homes
- Glasgow, VA: less expensive homes
- Collierstown, VA: equally priced homes
- Denmark, VA: higher priced homes
Cities with Similar Populations
- Lakeland Village, CA: higher priced homes
- San Anselmo, CA: higher priced homes
- Lone Tree, CO: higher priced homes
- Lindenhurst, IL: equally priced homes
- Liberty Lake, WA: higher priced homes
- Lexington, TN: less expensive homes
- Leon Valley, TX: less expensive homes
- Leitchfield, KY: less expensive homes
- Laurel, DE: less expensive homes
- Lantana, FL: higher priced homes
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