At $1,647/mo, rent takes about 23% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,647 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 →
12-month history
Last updated: September 25, 2026
What the numbers show
30% of the median household income ($84,517) is $2,113 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,610).
From Zillow's monthly rent index (ZORI) for Lexington. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Lexington, VA is roughly split between renters and owners, skews toward younger working-age adults, 50.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Lexington, VA has changed in 5 years
On the earnings side, the typical household in Lexington, VA now reports about $84,517, up from $66,114 in 2021. Headcount in the area went from 7,287 to 7,525 between 2021 and 2024, a 3.3% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 60.5% to 50.7%.
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Can you afford rent in Lexington on your salary?
At $1,647/mo, how Lexington rent compares to typical pay (30% rule).
Lexington rent by bedroom count
Median rent for each apartment size in Lexington. Click any size for full breakdown.
Tips for renters in Lexington
Last updated: September 25, 2026
The median rent in Lexington is $1,647/mo as of September 2026. A studio apartment averages $830/mo while a 2-bedroom runs $980/mo. One-bedroom apartments average $870/mo and 3-bedroom units go for $1,370/mo.
At 23% of local median household income ($84,517/yr), Lexington ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Lexington?
Is rent going up or down in Lexington?
How does Lexington rent compare to other cities in Virginia?
Which nearby cities are cheaper to rent in than Lexington?
At $1,647/mo, rent takes ~23% of Lexington's median household income ($84,517/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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