Cost of Living in Lexington city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Lexington city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lexington city ranks #2,212 of 3,142 counties for affordability (bottom 30%)
Sourced county brief
Lexington City Official Rent Burden Percentage and Housing Cost Snapshot
Lexington city's official median gross rent as a percentage of household income, or GRAPI, was estimated at 29.2%. This official B25071 figure is 0.6 percentage points higher than the Virginia unweighted county mean for official GRAPI, which stood at 28.6%. The median gross rent for the city was recorded at $1,081 per month, a value that is $89 below the state’s unweighted county mean of $1,170. Regarding owner-occupied housing, the median home value was $275,200, which differs from the Virginia unweighted county mean of $295,808 by $20,608. Median selected monthly owner costs for all owner-occupied units were $948, positioned below the state unweighted county mean of $1,190. While the median household income for all residents was $84,517, a specific median for renter-occupied households was not included in this snapshot. These figures represent housing costs and income ratios for the 2020-2024 period. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Lexington city
Affordability Verdict
ACS B25071 estimates median gross rent at 29.2% of renter household income in Lexington city, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,081 per month; median selected monthly owner costs are $948. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $43,240 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Virginia unweighted mean of county median rents is $1,170 per month. Lexington city's $1,081 median is 7.6% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Lexington city
Rent Burden
15.3%
of gross income
Max Housing (28% Rule)
$1,972
per month
Owner Cost Burden
13.5%
of gross income
The median home in Lexington city may be a stretch
Median home value is $275,200. Estimated monthly cost: $2,197 vs. your max of $1,972.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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