Housing in Lexington

A typical Lexington home is worth roughly $233,000

Home prices around Lexington have risen about 62% over the past 5 years.

#48Vacation-home towns in MI #48Cheapest rent in MI #78Lowest property tax in MI All MI rankings →

Typical home value

$233K

▲ 2.9% in a year · MI $266K

Estimate

2-bedroom rent

$970

a month, utilities in · HUD

Median tax bill

$1,931

MI $2,904

What kind of housing town is Lexington?

Read from the numbers below. The page puts what stands out first.

Rent is cheap#48 in MI for the cheapest rent.Low tax bills#78 of 719 in MI for the lowest property tax bills.A second-home town24% of homes are seasonal or vacation homes.

★ What stands out · Renting

A two-bedroom rents for about $970

Renters already here pay a median of $686, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$670

1 bedroom$740

2 bedrooms$970

3 bedrooms$1,250

4 bedrooms$1,320

34%

of households rent · MI 27%

194

renter households

59%

of renters spend 30%+ of income on rent · MI 50%

25%

of the median income, for a two-bedroom

$686

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Sanilac County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Affordability

A typical home costs 5.1 years of income

More than across Michigan (3.7 years). Try your own numbers below.

You could afford about

$176,000

Typical Lexington home $233K

That’s $57K short of a typical Lexington home.

The typical home, each month

$1,420

Loan $1,150Tax $200Insurance $70

A two-bedroom rents for about $970 a month here, $450 less than owning.

How Lexington ranks on affordability →

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Lexington’s typical property tax (1.05% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

The homes

66% of Lexington households own their home

Half of Lexington’s homes were built before 1980.

Owners and renters

Own 66%Rent 34%

Michigan: 73% own.

1980

typical home built · MI 1972

$1,931

median property tax bill · MI $2,904

1.05%

of a home’s value, a year in tax · MI 1.25%

24%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024.

Price trend

Home prices up 62% in 5 years

The federal house price index for the ZIP code around Lexington rose 62% over the past 5 years, faster than across Michigan (52%). Last year prices rose 2.9%. Carrying the Census median home value forward with that index puts the typical Lexington home at roughly $233,000 today.

Lexington areaMichigan

+2.9%

past year

+62%

past 5 years

+130%

past 10 years

Estimated value

Carrying the Census median forward with the index puts a typical home at about $233K.

How Lexington ranks on rising home prices →

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Lexington, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

Neighbors talk housing

What Lexington buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Lexington still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.