Cost of Living in Lexington, VA
Population 7,420 · Virginia · Data vintage 2023
(100 = US avg)
Under 25,000 residents gives Lexington a small-town character that shows up in every data point below — from the commute patterns to the rental inventory. A typical home runs $275,000. An unemployment rate of 0.7% points to a labor market well on the tight side of the national distribution.
Lexington lies roughly 110 miles west of the nearest major metro, Richmond — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 16% lower than Richmond's $328,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Lexington
The median home value in Lexington is $275,300 — 10% below the national median of $305,000. Median rent runs $985/month, 25% lower than the national median of $1,314/month. The median household income of $89,598/year is 20% higher than the US median of $74,580. The local unemployment rate is 0.7%, below the national average of 4.8%. Virginia's top state income tax rate is 5.8% and the combined sales tax is 5.6%. The climate averages highs of 67.4°F and lows of 45.0°F, with about 11.6" of annual snowfall. Overall, Lexington has a cost of living index of 84 versus the US average of 100, meaning it is 16% less expensive.
Lexington has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 46 | 50 | 58 | 69 | 76 | 83 | 87 | 85 | 79 | 69 | 58 | 49 |
| Low °F | 26 | 28 | 35 | 44 | 53 | 61 | 65 | 64 | 57 | 45 | 35 | 29 |
| Precip" | 3.46 | 2.91 | 3.76 | 3.45 | 3.98 | 3.82 | 4.19 | 3.22 | 3.96 | 3.12 | 3.39 | 3.50 |
| Snow" | 3.5 | 3.6 | 2.4 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 2.0 |
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Lexington, VA?
Lexington has a cost index of 84 (100 = national average). It is 16% below the national average.
What is average rent in Lexington, VA?
The median gross rent in Lexington is $985 per month based on 2023 Census data.
What is the average home price in Lexington?
The median home value in Lexington is $275,300 according to Zillow and Census data.
What is the median income in Lexington?
The median household income in Lexington is $89,598 per year (2023 ACS 5-year estimates).
What is the sales tax in Lexington, VA?
The combined state and local sales tax rate in Lexington is 5.6%. The Virginia state income tax top rate is 5.8%.
Is Lexington, VA affordable?
Yes, Lexington is generally considered affordable, with a cost of living index of 84 — about 16% below the US national average of 100.
What is the weather like in Lexington?
Lexington has average high temperatures of 67.4°F and average lows of 45.0°F. Annual precipitation is 42.8". Average annual snowfall is 11.6". Data from NOAA 1991–2020 Climate Normals.
Lexington at a Glance
- Population
- 7,420
- Median Income
- $89,598
- Home Value
- $275,300
- Median Rent
- $985/mo
- Unemployment
- 0.7%
- Avg High Temp
- 67.4°F
- Sales Tax
- 5.6%
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