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Lexington city Housing Market

Virginia · 133 counties · Ranked #2518 in home value

Below National Avg

Housing at a Glance

Median Home Value

$275,300

vs national$275,300 vs $281,900 national

Median Gross Rent

$985/mo

vs national$985 vs $1,163 national

Effective Tax Rate

0.86%

vs national0.86% vs 1.02% national

Median Household Income

$89,598

vs national+$89,598 vs $74,755 national

Affordability Ratio

3.1x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

28.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$2,378

Tax as % of Home Value

0.86%

Monthly Owner Cost

$926

Renter Income

N/A

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Frequently Asked Questions

What is the median home value in Lexington city?

The median home value in Lexington city is $275,300. This is below the national median of $281,900.

How much is rent in Lexington city?

The median gross rent in Lexington city is $985 per month.

What is the property tax rate in Lexington city?

The effective property tax rate in Lexington city is 0.86%. The median annual property tax bill is $2,378.

Is Lexington city affordable?

With a home-value-to-income ratio of 3.1x, Lexington city is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.