Lexington, NC—27292
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Lexington, NC
Home Price Trends — Lexington, NC
As of Oct '25, the median home price in Lexington, NC is $240,000, with a year-over-year change of 3.5%. This indicates that home prices in Lexington, NC are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $240,000 | 3.5% |
| Single Family | $240,000 | 4.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $172,000 | 5.5% |
2 Bed | $171,000 | 4.3% |
3 Bed | $249,000 | 3.8% |
4 Bed | $338,000 | 3.7% |
| 5 Bed | $390,000 | 6.0% |
% of Housing Stock
Rental Trends — Lexington, NC
As of July '25, Rentcast reports the average rent in Lexington, NC is $1,410, with a year-over-year rent change of 16.5%. Per bedroom, the median rent as of July '25 in Lexington, NC is 1-bedrooms: $876, 2-bedrooms: $1,100, 3-bedrooms: $1,570, 4-bedrooms: $2,050. The most common rental property sizes in Lexington, NC are 2-bedroom and 3-bedroom, accounting for 47.6% and 33.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,410 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $825 | $876 |
| 2 Bed Rent | $1,150 | $1,100 |
| 3 Bed Rent | $1,640 | $1,570 |
| 4 Bed Rent | $2,080 | $2,050 |
% of Rental Stock
Property Listings — Lexington, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Lexington, NC is 49. This is a decrease of -11.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $316,000 | 12.0% |
Listing Count | 175 | -7.0% |
| Listings as % of Homes | 0.6% | -7.0% |
Days on Market | 49 | -11.0% |
Demographics — Lexington, NC
As of the latest ACS Survey released in 2023, Lexington, NC has a population of 40,400, which has increased by 1.8% over the past 5 years. Lexington, NC is a moderately popular place for families, as children make up 22.3% of the population. The area has a poorly educated workforce, with 17.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,400 | 1.8% |
% Under 18 | 22.3% | 2.3% |
% Seniors | 19.7% | 7.7% |
% WFH | 7.9% | 364.7% |
% w/ College Degree | 17.4% | 15.2% |
As of the latest ACS Survey released in 2023, Lexington, NC is a predominantly white area, with 72.2% of the population identifying as white. The white population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in Lexington, NC is black, making up 12.8% of the population. Foreign-born residents account for 5.2% of the population in Lexington, NC, and this percentage has increased by 6.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.2% | -2.0% |
% Black | 12.8% | -12.3% |
% Hispanic | 8.7% | 8.7% |
% Asian | 1.7% | 240.0% |
% Foreign Born | 5.2% | 6.1% |
Mortgage and Risk — Lexington, NC
According to HUD data as of 2023, there were 910 mortgage originations in Lexington, NC, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Lexington, NC. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 910 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Lexington, NC
As of 2024, the percent of homes in Lexington, NC under the Section 8 program is 11.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Lexington, NC, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 732 |
Total Units Section 8 | 683 |
% Rentals under Section 8 | 11.9% |
% Occupied Section 8 | 73.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $115 | $825 | $940 |
| 2 Bedroom | -$90 | $1,150 | $1,060 |
| 3 Bedroom | -$290 | $1,640 | $1,350 |
| 4 Bedroom | -$530 | $2,080 | $1,550 |
Affordability — Lexington, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $240,000 |
| Median Household Income | $54,500 |