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City Report · MA

Lexington

Pop. 34,295·1st most expensive in Massachusetts·One of the pricier rental markets in the US
Median rent (all units)
$4,088/mo
Year-over-Year
Stable
Month-over-Month
-4.3%
vs US Median
+$2,126
Falling (Monthly)
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Most AffordableMost Expensive
Lexington · $4,088
More expensive than 98% of US cities · National median $1,962/mo
Affordability
21% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $4,088/mo, rent takes about 21% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$164,000/yr
Local median income
$238,444/yr
Based on the 30%-of-income rule using Lexington's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$3,360
1 BR
$3,550
2 BR
$4,210
3 BR
$5,070
4 BR+
$5,580
Fair Market Rent (HUD)
$4,210/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $4,088 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$49,056/yr
At $4,088/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -4.3% MoM), not inventory.
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Demographics

Who lives here

Lexington, MA is majority owner-occupied, has a large retiree population, has a median income above the national average, 84.3% of residents hold a bachelor's degree or higher.

Population
34,295
Median income
$238,444
Median age
47.3
Renters
19.5%
Age distribution
25.5%
31%
13.1%
21.7%
Under 1825.5%
18–348.7%
35–5431%
55–6413.1%
65+21.7%
Gender
47.9%
52.1%
Male47.9%
Female52.1%
Race & ethnicity
55.8%
33.8%
White55.8%
Black1.7%
Hispanic3.5%
Asian33.8%
Other5.2%
Education (25+)
84.3%
No HS diploma3.1%
HS diploma4.7%
Some college7.9%
Bachelor's+84.3%
Housing tenure
80.5%
19.5%
Owner80.5%
Renter19.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Lexington, MA has changed in 5 years

Income
$202,852 → $238,444
up 17.5%
Population
34,235 → 34,295
up 0.2%
Renter share
17.2% → 19.5%
+2.3 pts
Bachelor's+
85% → 84.3%
-0.7 pts
Median age
46.6 → 47.3
+0.7 yrs

Household income in the area moved from $202,852 to $238,444 across the same window, up 17.5% versus 2021. About 19.5% of households rent today, against 17.2% in 2021.

Community

Discussions about Lexington

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View Lexington rent history (2015–2026) →
Salary vs rent

Can you afford rent in Lexington on your salary?

At $4,088/mo, how Lexington rent compares to typical pay (30% rule).

By apartment size

Lexington rent by bedroom count

Median rent for each apartment size in Lexington. Click any size for full breakdown.

Local insights

Tips for renters in Lexington

About renting in Lexington, MA

Last updated: August 17, 2026

The median rent in Lexington is $4,088/mo as of August 2026. A studio apartment averages $3,360/mo while a 2-bedroom runs $4,210/mo. One-bedroom apartments average $3,550/mo and 3-bedroom units go for $5,070/mo.

At 21% of local median household income ($238,444/yr), Lexington ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Lexington an affordable city for renters?

Lexington is considered very affordable for renters. At $4,088/mo, rent takes approximately 21% of the local median household income ($238,444/yr). The standard benchmark is 30%. Lexington falls comfortably within that range.

How much income do you need to rent in Lexington?

To keep rent at or below 30% of gross income, you would need to earn at least $164,000/year (~$79/hour full-time) to afford the median rent of $4,088/mo in Lexington. The local median household income is $238,444/yr, meaning the typical Lexington household meets that threshold.

Is rent going up or down in Lexington?

Rent in Lexington has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Lexington rent compare to other cities in Massachusetts?

Lexington is one of the pricier cities in Massachusetts for rent, ranking #1 out of 112 tracked cities at $4,088/mo.

Which nearby cities are cheaper to rent in than Lexington?

Several nearby cities have lower median rents than Lexington ($4,088/mo): Arlington ($2,998/mo), Waltham ($3,045/mo), Bedford ($3,107/mo).

What percentage of Lexington residents rent vs. own?

According to Census data, approximately 19.5% of Lexington households are renters, while 80.5% are owner-occupied. Lexington leans toward homeownership, which can mean a smaller rental inventory.

How does Lexington rent compare to the national average?

Lexington's median rent of $4,088/mo is $2,126 (108%) above the US national median of $1,962/mo. Within Massachusetts, it ranks #1 out of 112 tracked cities.
Income Affordability
21%
VERY AFFORDABLE

At $4,088/mo, rent takes ~21% of Lexington's median household income ($238,444/yr). The standard benchmark is 30%.

Lexington 21%Benchmark 30%
State income tax5%
Run the Lexington affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Lexington, MA

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