Lexington, VA
Population 7,420 · Virginia
About Lexington, VA
Lexington is a small community in Virginia with a population of 7,420 residents. The median household income is $89,598 per year, which is above the national average. The median age in Lexington is 22.5 years.
Housing in Lexington has a median home value of $275,300 and median monthly rent of $985. Of the 2,644 total housing units, the majority are owner-occupied, with 1,065 owner-occupied and 996 renter-occupied units.
The unemployment rate in Lexington is 0.7% and the poverty rate is 15.9%. 57.3% of residents hold a bachelor's degree or higher. The average commute time is 12.4 minutes.
How Lexington Ranks in Virginia
Cost of Living in Lexington, VA
Compared to national averages, Lexington has a median household income of $89,598 (19% above the national median of $75,149). Home values average $275,300, which is 12% above the national median. Monthly rent at $985 is 15% below the US average of $1,163. Within Virginia, Lexington's income is 2% above the state average of $87,957, and home values are 16% below the state median of $327,514.
Why Live in Lexington, VA?
Lexington offers a strong local economy with a median household income of $89,598, well above the national average, and rent that’s lower than the national average at $985/month, and a strong job market with an unemployment rate of just 0.7%. Additionally, the city features a well-educated community where 57.3% of residents hold a bachelor’s degree or higher, and short commute times averaging just 12.4 minutes.
Lexington has a population of 7,420 with a median age of 22.5 years. Compare Lexington with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Lexington
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mantua | 7,447 | $197,677 | $947,700 | Compare |
| Woodlake | 7,373 | $133,782 | $371,900 | Compare |
| North Springfield | 7,511 | $124,118 | $630,300 | Compare |
| Bull Run CDP (Fairfax County), Virginia | 7,513 | $238,500 | $879,000 | Compare |
| Laurel Hill | 7,551 | $139,803 | $625,900 | Compare |
| Farmville | 7,613 | $40,282 | $223,700 | Compare |
| Collinsville | 7,645 | $50,465 | $123,500 | Compare |
| Ashland | 7,667 | $65,000 | $272,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Lexington
What is the population of Lexington, VA?
The population of Lexington, VA is 7,420 according to the latest Census data.
What is the median household income in Lexington?
The median household income in Lexington, VA is $89,598 per year.
What is the median home value in Lexington?
The median home value in Lexington, VA is $275,300.
What is the average rent in Lexington?
The median monthly rent in Lexington, VA is $985.
What is the unemployment rate in Lexington?
The unemployment rate in Lexington, VA is 0.7%.