Lexington, VA Cost Of Living
Cost Of Living In Lexington, VA Summary
Cost of living in Lexington research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lexington is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lexington is 102, with 100 being the average.
The cost of living index in Lexington is 1.0x higher than the national average.
Lexington ranks as the #58 cheapest in Virginia out of 186.
Lexington ranks as the #3,380 cheapest out of 6,412 in the US.
The median home value in Lexington is $251,500.
The median income in Lexington is $66,114.
Table Of Contents
Lexington's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lexington, VA?
According to the most recent data on the cost of living, Lexington has an overall cost of living index of 102, which is 1.0x higher than the national index of 100.
Compared to Virginia, Lexington has a cost of living index that's 1.0x lower than Virginia's index of 102.
The standard of living in Lexington ranks as #58 most affordable out of the 186 places we measured in Virginia. By definition, that implies Lexington ranks as the #128 most expensive place in the Old Dominion.
For more reading on life in Lexington, check out:
- Living In Lexington
- Lexington Crime Report
- Search Homes For Sale In Lexington, VA
In Virginia
In America
Lexington Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Lexington. Here is how it fairs on each of the criteria:
The Services index in Lexington is 94.
The Groceries index in Lexington is 91.
The Health index in Lexington is 101.
The Housing index in Lexington is 111.
The Transportation index in Lexington is 93.
The Utilities index in Lexington is 103.
| Living Expense | Lexington | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 102 | 102 | 100 | |
| Services | 94 | 102 | 100 | |
| Groceries | 91 | 98 | 100 | |
| Health | 101 | 102 | 100 | |
| Housing | 111 | 107 | 100 | |
| Transportation | 93 | 95 | 100 | |
| Utilities | 103 | 102 | 100 | |
Lexington, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Lexington is $251,500.
The Median Rent in Lexington is $1,057.
The Median Income in Lexington is $66,114.
The Home Value To Income in Lexington is 3.8x.
The Rent To Monthly Income in Lexington is 0.19x.
| Statistic | Lexington | Virginia | United States |
|---|---|---|---|
| Median Home Value | $251,500 | $295,500 | $244,900 |
| Median Rent | $1,057 | $1,326 | $1,163 |
| Median Income | $66,114 | $80,615 | $69,021 |
| Home Value To Income | 3.8x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.19x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Lexington, VA Costs By Category
Detailed Lexington Services Costs Vs. Virginia
Detailed Lexington Groceries Costs Vs. Virginia
Detailed Lexington Health Costs Vs. Virginia
Detailed Lexington Transportation Costs Vs. Virginia
Detailed Lexington Utilities Costs Vs. Virginia
Lexington SnackAbility
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Cost Of Living In Cities Around Lexington
The cost of living varies in the cities and towns around Lexington. Here's a quick look at the cost of living in the most populous nearby places:
Lynchburg, VA has a cost of living index of 88, 0.9x Lexington.
Staunton, VA has a cost of living index of 99, 1.0x Lexington.
Salem, VA has a cost of living index of 93, 0.9x Lexington.
| City | Population | Cost Of Living | Vs. Lexington |
|---|---|---|---|
| Lynchburg, VA | 78,973 | 88 | 0.9x |
| Staunton, VA | 25,358 | 99 | 1.0x |
| Salem, VA | 25,335 | 93 | 0.9x |
| Cave Spring, VA | 25,248 | 98 | 1.0x |
| Waynesboro, VA | 22,149 | 96 | 0.9x |
| Hollins, VA | 15,857 | 92 | 0.9x |
| Stuarts Draft, VA | 11,954 | 95 | 0.9x |
| Madison Heights, VA | 10,790 | 86 | 0.8x |
| Vinton, VA | 8,039 | 85 | 0.8x |
| Buena Vista, VA | 6,649 | 84 | 0.8x |
