Lexington, MN
Population 2,616 · Minnesota
About Lexington, MN
Lexington is a small town located in Minnesota with a population of 2,616 residents according to the latest US Census Bureau American Community Survey data. The median household income is $72,955 per year, which is 3% below the national median of $75,149. The median age of 38.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Lexington features a median home value of $282,000, which is 15% above the national median of $244,900. This positions Lexington in a moderately priced market relative to the rest of the country. Median monthly rent is $1,462, 26% above the national average of $1,163/month. Of the 1,196 total housing units, 53% are owner-occupied (584 units) and 47% are renter-occupied (518 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Lexington shows an unemployment rate of 4.7%, which is near the national rate of 3.7%. The poverty rate stands at 9.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lexington have an average one-way commute time of 21.9 minutes.
Education & Demographics
21.8% of Lexington residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 3.6% White, 2.9% Hispanic or Latino, 0.0% Black or African American, and 1.2% Asian residents, with 12.7% of the population being foreign-born.
Cost of Living in Lexington, MN
Compared to national averages, Lexington has a median household income of $72,955 (3% below the national median of $75,149). Home values average $282,000, which is 15% above the national median. Monthly rent at $1,462 is 26% above the US average of $1,163. Within Minnesota, Lexington's income is 2% below the state average of $74,221, and home values are 38% above the state median of $204,472.
Why Live in Lexington, MN?
Lexington offers a low poverty rate of 9.5%, better than the national average, and short commute times averaging just 21.9 minutes.
Potential considerations include median household income ($72,955) that falls below the national average. However, Lexington’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lexington has a population of 2,616 with a median age of 38.4 years. Compare Lexington with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Lexington
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Granite Falls | 2,612 | $59,402 | $139,700 | Compare |
| Osseo | 2,601 | $66,875 | $275,000 | Compare |
| Pelican Rapids | 2,589 | $65,482 | $177,700 | Compare |
| Breezy Point | 2,647 | $85,913 | $301,000 | Compare |
| Crosslake | 2,648 | $85,000 | $540,200 | Compare |
| Glenwood | 2,648 | $45,735 | $181,000 | Compare |
| Wabasha | 2,569 | $62,016 | $212,800 | Compare |
| Foley | 2,685 | $58,092 | $192,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lexington With Other Cities
Frequently Asked Questions about Lexington
What is the population of Lexington, MN?
The population of Lexington, MN is 2,616 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Lexington?
The median household income in Lexington, MN is $72,955 per year, which is 3% below the national median of $75,149.
What is the median home value in Lexington?
The median home value in Lexington, MN is $282,000, which is 15% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lexington?
The median monthly rent in Lexington, MN is $1,462, which is 26% above the national average of $1,163/month.
What is the unemployment rate in Lexington?
The unemployment rate in Lexington, MN is 4.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lexington, MN a good place to live?
Lexington offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 2,616 and a median age of 38.4, the city appeals to a broad range of residents.
How educated is Lexington, MN?
21.8% of residents in Lexington aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Lexington?
Key cost-of-living indicators for Lexington, MN: median home value is $282,000 (15% above national), median rent is $1,462/month, and median household income is $72,955. The home-value-to-income ratio is 3.9x, a moderate figure by national standards.
What is the poverty rate in Lexington?
The poverty rate in Lexington, MN is 9.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lexington, MN?
Lexington's population is 3.6% White, 2.9% Hispanic or Latino, 0.0% Black or African American, 1.2% Asian, and 15.3% two or more races. 12.7% of residents are foreign-born.