Lexington city, Virginia Housing Market
In Lexington city, Virginia, the median home value is $275,200, with a median monthly rent of $1,081. This places Lexington city at #751 nationally out of 3134 counties by median home value, and #63 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $938
- Establishments: 278
- BLS QCEW, 2025
Migration Patterns
- Inflow: 2,097 (avg $99,964)
- Outflow: 1,780 (avg $101,848)
- IRS Statistics of Income
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| Metric | Lexington city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $275,200 | $295,807 | $227,706 |
| Median Gross Rent | $1,081 | $1,169 | $968 |
| Owner Occupancy Rate | 53.8% | 70.8% | 73.3% |
| Price/Rent Ratio | 21.2 | 20.3 | 18.7 |
Market Analysis
The median home value in Lexington city is 7.0% below the Virginia state average and 20.9% above the U.S. national average. The median rent of $1,081/month is 7.5% below the state average.
With a price-to-rent ratio of 21.2, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Lexington city has an owner-occupancy rate of 53.8%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Lancaster County | Nebraska | $275,200 | $1,085 |
| Licking County | Ohio | $275,200 | $1,078 |
| Denali Borough | Alaska | $275,000 | $825 |
| Bear Lake County | Idaho | $275,000 | $632 |
| Dunn County | North Dakota | $275,000 | $922 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Westmoreland County | $269,600 | $1,018 | 80.1% |
| Amelia County | $282,400 | $1,164 | 82.5% |
| Roanoke County | $286,000 | $1,224 | 75.7% |
| Botetourt County | $289,200 | $1,035 | 85.5% |
| Newport News city | $260,600 | $1,339 | 48.2% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).