Lexington, VA housing market
The typical Lexington home is worth about $366,000, up 3.9% in a year, 12% below the Virginia typical home.
Home values, sales, trends and how Lexington compares with the towns next door — updated as new data is published.
Lexington at a glance
Typical home value, 2016–2026
Show as a table
| January | Lexington | Virginia |
|---|---|---|
| 2017 | $226,000 | $253,000 |
| 2018 | $234,000 | $263,000 |
| 2019 | $238,000 | $271,000 |
| 2020 | $245,000 | $284,000 |
| 2021 | $274,000 | $311,000 |
| 2022 | $301,000 | $345,000 |
| 2023 | $316,000 | $367,000 |
| 2024 | $330,000 | $386,000 |
| 2025 | $346,000 | $405,000 |
| 2026 | $357,000 | $411,000 |
| August 2026 | $366,000 | $415,000 |
No new homes permitted in 2025
No permits for new homes were issued in Lexington in 2025. The last year with any was 2024 (1 new home).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Lexington gained 278 residents while 87 new homes were permitted: about 3.2 new residents per new home. Building and growth moved roughly in step. Across Virginia: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 6 | 4 | 2 | $1.5 million |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 1 | 1 | 0 | $438,000 |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 5 | 5 | 0 | $1.5 million |
| 2021 | 11 | 11 | 0 | $2.7 million |
| 2020 | 9 | 9 | 0 | $1.7 million |
| 2019 | 8 | 8 | 0 | $1.3 million |
| 2018 | 45 | 31 | 14 | $8.9 million |
| 2017 | 7 | 7 | 0 | $750,000 |
| 2016 | 6 | 6 | 0 | $5.7 million |
| 2015 | 5 | 5 | 0 | $726,000 |
| 2014 | 8 | 6 | 2 | $799,000 |
| 2013 | 2 | 2 | 0 | $234,000 |
| 2012 | 1 | 1 | 0 | $117,000 |
| 2011 | 5 | 1 | 4 | $710,000 |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 4 | 2 | 2 | $799,000 |
| 2008 | 3 | 3 | 0 | $585,000 |
| 2007 | 12 | 12 | 0 | $2.1 million |
| 2006 | 18 | 18 | 0 | $3.2 million |
| 2005 | 9 | 9 | 0 | $956,000 |
| 2004 | 12 | 12 | 0 | $1.1 million |
| 2003 | 15 | 15 | 0 | $2.3 million |
| 2002 | 10 | 10 | 0 | $1.3 million |
| 2001 | 7 | 7 | 0 | $666,000 |
| 2000 | 17 | 15 | 2 | $1.6 million |
How Lexington ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Lexington and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Lexington | $366K | +3.9% | $1,040 | 0 | $84,517 |
| East Lexington | — | +8.2%† | $1,040 | — | $64,241 |
† FHFA price index change, where Zillow has no home value for the town.
4.3 years of income
The typical Lexington home costs about 4.3 years of the town's median household income, about the same as across Virginia (4.5).
How Lexington ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,040
HUD's Fair Market Rent for a two-bedroom in Lexington is $1,040 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Lexington pay a median of $1,081. A two-bedroom takes about 15% of the town's median household income.
Studio $900 · 4 bedrooms $1,740
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (24450; Roanoke, VA HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.