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City Report · NC

Lexington

Pop. 19,690·87th most expensive in North Carolina·Lexington rents are up 18.3% over the past year
Median rent (all units)
$1,609/mo
Year-over-Year
+18.3%
Month-over-Month
-1.8%
vs US Median
-$353
Falling (Monthly)
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Most AffordableMost Expensive
Lexington · $1,609
More affordable than 68% of US cities · National median $1,962/mo
Affordability
45% of income
STRETCHED
0%30% benchmark60%+

At $1,609/mo, rent takes about 45% of the local median household income, well above the 30% benchmark.

Income to afford
$64,000/yr
Local median income
$43,128/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
$850
1 BR
$875
2 BR
$995
3 BR
$1,295
4 BR+
$1,540
Fair Market Rent (HUD)
$995/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,609 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
$19,308/yr
At $1,609/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 18.3% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+18.3% YoY, -1.8% MoM), not inventory.
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Demographics

Who lives here

Lexington, NC is majority renter-occupied, has a median income below the national average, 12.9% of residents hold a bachelor's degree or higher.

Population
19,690
Median income
$43,128
Median age
36.7
Renters
58.4%
Age distribution
25%
22.2%
23.8%
13.5%
15.4%
Under 1825%
18–3422.2%
35–5423.8%
55–6413.5%
65+15.4%
Gender
46.3%
53.7%
Male46.3%
Female53.7%
Race & ethnicity
45.2%
23.2%
24.1%
White45.2%
Black23.2%
Hispanic24.1%
Asian3.7%
Other3.8%
Education (25+)
20.3%
32.7%
34.1%
12.9%
No HS diploma20.3%
HS diploma32.7%
Some college34.1%
Bachelor's+12.9%
Housing tenure
41.6%
58.4%
Owner41.6%
Renter58.4%

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

2021 vs 2026

How Lexington, NC has changed in 5 years

Income
$32,698 → $43,128
up 31.9%
Population
19,347 → 19,690
up 1.8%
Renter share
60.9% → 58.4%
-2.5 pts
Bachelor's+
13.4% → 12.9%
-0.5 pts
Median age
38.3 → 36.7
-1.6 yrs

Local incomes tracked alongside that move, going from a median of $32,698 in 2021 to $43,128 more recently. Headcount in the area went from 19,347 to 19,690 between 2021 and 2024, a 1.8% change. About 58.4% of households rent today, against 60.9% 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 $1,609/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, NC

Last updated: August 17, 2026

The median rent in Lexington is $1,609/mo as of August 2026. A studio apartment averages $850/mo while a 2-bedroom runs $995/mo. One-bedroom apartments average $875/mo and 3-bedroom units go for $1,295/mo.

At 45% of local median household income ($43,128/yr), Lexington ranks as moderate compared to the national benchmark of 30%. Rents have increased 18.3% over the past year.

FAQ

Frequently asked questions

Is Lexington an affordable city for renters?

Lexington is considered stretched for renters. At $1,609/mo, rent takes approximately 45% of the local median household income ($43,128/yr). The standard benchmark is 30%. Lexington significantly exceeds that threshold, making it challenging for many renters.

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 $64,000/year (~$31/hour full-time) to afford the median rent of $1,609/mo in Lexington. The local median household income is $43,128/yr, meaning the typical Lexington household falls short of that threshold.

Is rent going up or down in Lexington?

Rent in Lexington has increased 18.3% over the past year as of August 2026, putting upward pressure on renter budgets.

Which Lexington neighborhoods have the lowest rent?

The most affordable ZIP codes in Lexington are 27292 ($1,333/mo), and 27295 ($2,015/mo). Citywide, the median rent in Lexington is $1,609/mo.

How does Lexington rent compare to other cities in North Carolina?

Lexington is one of the more affordable cities in North Carolina for rent, ranking #87 out of 128 tracked cities at $1,609/mo.

Which nearby cities are cheaper to rent in than Lexington?

Several nearby cities have lower median rents than Lexington ($1,609/mo): Thomasville ($1,210/mo), Salisbury ($1,278/mo), Winston-Salem ($1,525/mo).

What percentage of Lexington residents rent vs. own?

According to Census data, approximately 58.4% of Lexington households are renters, while 41.6% are owner-occupied. With a majority renter population, Lexington has a strong rental market.

How does Lexington rent compare to the national average?

Lexington's median rent of $1,609/mo is $353 (18%) below the US national median of $1,962/mo. Within North Carolina, it ranks #87 out of 128 tracked cities.
Income Affordability
45%
STRETCHED

At $1,609/mo, rent takes ~45% of Lexington's median household income ($43,128/yr). The standard benchmark is 30%.

Lexington 45%Benchmark 30%
State income tax4.5%
Run the Lexington affordability calculator →
Lowest-rent ZIP codes in Lexington
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Lexington, NC

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