Lexington, NC

Very Low · 57

North Carolina · Population 19,691 · Updated March 2026

$882
Median Rent / Month
$41,775
Median Income
$158,100
Median Home Value
$837
Owner Costs / Month

Affordability

How far your income goes in Lexington

25.3%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in North Carolina

State-level tax rates that affect your costs

4.5%
Income Tax (Top Rate)
4.75%
Sales Tax
0.8%
Property Tax Rate

Estimated Annual Costs

$10,584
Annual Rent
$1,880
State Income Tax
$1,265
Property Tax (est.)

Cost of Living Overview

Lexington is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 57 (where 100 equals the national median), Lexington residents can expect to pay median rent of $882/month while earning a median household income of $41,775/year.

The median home value in Lexington, NC is $158,100, with typical monthly owner costs around $837 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.3%, Lexington falls within the generally affordable range, though it's approaching the 30% burden threshold.

North Carolina has a moderate income tax rate of 4.5%. Combined with a 4.75% sales tax rate and 0.8% effective property tax rate, the overall tax environment is a factor in the total cost of living in Lexington.

Frequently Asked Questions

Common questions about living costs in Lexington

What is the cost of living in Lexington, NC?
The cost of living index in Lexington, NC is 57 (US average = 100). Median monthly rent is $882, median household income is $41,775/year, and the median home value is $158,100.
Is Lexington, NC affordable?
Yes, Lexington is more affordable than the national average with a cost index of 57. The rent-to-income ratio is 25.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lexington, NC?
The median gross rent in Lexington, NC is $882 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,584.
What is the median household income in Lexington?
The median household income in Lexington, NC is $41,775 per year. This compares to the national median of approximately $80,000.
What are the taxes like in North Carolina?
North Carolina has a top income tax rate of 4.5%, a sales tax of 4.75%, and an effective property tax rate of 0.8%.