Lexington, TN—38351
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Lexington, TN
Home Price Trends — Lexington, TN
Lexington, TN lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $207,000 | 4.2% |
| Single Family | $207,000 | 5.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lexington, TN
As of July '25, Rentcast reports the average rent in Lexington, TN is $938, with a year-over-year rent change of 21.5%. Per bedroom, the median rent as of July '25 in Lexington, TN is 2-bedrooms: $938. The most common rental property sizes in Lexington, TN are 2-bedroom and 3-bedroom, accounting for 41.0% and 38.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $938 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $950 | $938 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lexington, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Lexington, TN is 73. This is a decrease of -17.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $320,000 | 6.0% |
Listing Count | 64 | 9.0% |
| Listings as % of Homes | 0.6% | 9.0% |
Days on Market | 73 | -17.0% |
Demographics — Lexington, TN
As of the latest ACS Survey released in 2023, Lexington, TN has a population of 18,000, which has remained stable by 0.5% over the past 5 years. Lexington, TN is a moderately popular place for families, as children make up 23.8% of the population. The area has a poorly educated workforce, with 14.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,000 | 0.5% |
% Under 18 | 23.8% | 4.4% |
% Seniors | 17.5% | -2.8% |
% WFH | 8.5% | 80.9% |
% w/ College Degree | 14.1% | -0.7% |
As of the latest ACS Survey released in 2023, Lexington, TN is a predominantly white area, with 83.7% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Lexington, TN is black, making up 9.6% of the population. Foreign-born residents account for 0.7% of the population in Lexington, TN, and this percentage has decreased by 56.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 83.7% | -2.3% |
% Black | 9.6% | 5.5% |
% Hispanic | 2.9% | 20.8% |
% Asian | 0.2% | -33.3% |
% Foreign Born | 0.7% | -56.2% |
Mortgage and Risk — Lexington, TN
According to HUD data as of 2023, there were 364 mortgage originations in Lexington, TN, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Lexington, TN. Investor activity is low, as 4.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 364 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Lexington, TN
Lexington, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 239 |
Total Units Section 8 | 119 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $810 |
| 2 Bedroom | $100 | $950 | $1,050 |
| 3 Bedroom | N/A | N/A | $1,440 |
| 4 Bedroom | N/A | N/A | $1,440 |
Affordability — Lexington, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $207,000 |
| Median Household Income | $53,600 |