Lexington, SC

Average · 92

South Carolina · Population 24,132 · Updated March 2026

$1,360
Median Rent / Month
$83,263
Median Income
$271,200
Median Home Value
$1,304
Owner Costs / Month

Affordability

How far your income goes in Lexington

19.6%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in South Carolina

State-level tax rates that affect your costs

6.4%
Income Tax (Top Rate)
6.0%
Sales Tax
0.57%
Property Tax Rate

Estimated Annual Costs

$16,320
Annual Rent
$5,329
State Income Tax
$1,546
Property Tax (est.)

Cost of Living Overview

Lexington offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 92 (where 100 equals the national median), Lexington residents can expect to pay median rent of $1,360/month while earning a median household income of $83,263/year.

The median home value in Lexington, SC is $271,200, with typical monthly owner costs around $1,304 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.6% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

South Carolina has a moderate income tax rate of 6.4%. Combined with a 6.0% sales tax rate and 0.57% 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, SC?
The cost of living index in Lexington, SC is 92 (US average = 100). Median monthly rent is $1,360, median household income is $83,263/year, and the median home value is $271,200.
Is Lexington, SC affordable?
Yes, Lexington is more affordable than the national average with a cost index of 92. The rent-to-income ratio is 19.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lexington, SC?
The median gross rent in Lexington, SC is $1,360 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $16,320.
What is the median household income in Lexington?
The median household income in Lexington, SC is $83,263 per year. This compares to the national median of approximately $80,000.
What are the taxes like in South Carolina?
South Carolina has a top income tax rate of 6.4%, a sales tax of 6.0%, and an effective property tax rate of 0.57%.