Lexington City, Virginia home prices
Typical home $354,128 · +2.4% in a year · property tax 0.81%
The typical home in Lexington City is worth $354,128, 14% less than the Virginia typical home ($412,252). Values changed +2.4% in the past year and +28.8% over five years. Homeowners here pay a median 0.81% of their home's value in property tax each year ($2,862 on the typical home), versus 0.71% statewide.
Mortgage on the typical Lexington City home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $70,826 | $283,302 | $1,906 | $0 | $416 | $2,321 | $99,500 |
| 10% down | $35,413 | $318,715 | $2,144 | $133 | $416 | $2,692 | $115,400 |
| 5% down | $17,706 | $336,421 | $2,263 | $140 | $416 | $2,819 | $120,800 |
| 3.5% down (FHA) | $12,394 | $347,714 | $2,339 | $157 | $416 | $2,911 | $124,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.81% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Virginia.
Virginia counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| King William County | $352,179 | +3.0% | 0.55% |
| Prince George County | $356,119 | +3.8% | 0.74% |
| Winchester City | $351,816 | +1.4% | 0.76% |
| Bedford County | $351,809 | +4.2% | 0.43% |
| Caroline County | $359,075 | +3.6% | 0.52% |
| Mathews County | $349,114 | +1.5% | 0.43% |
| Rockingham County | $361,245 | +2.1% | 0.53% |
| Nelson County | $362,239 | +3.0% | 0.5% |
| Franklin County | $363,796 | +3.9% | 0.5% |
| Richmond City | $365,737 | +2.2% | 0.89% |
Frequently asked questions
What is the average home price in Lexington City, VA?
The typical home value in Lexington City is $354,128 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Lexington City?
About $99,500 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Lexington City?
The median effective rate is 0.81% of home value a year (Census ACS 2024 5-year estimates).