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Lexington city, VA

ZIP 24450 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 24450

Median Home Value
$294,200
Median Rent
$851
Affordability Snapshot
$81,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,890/mo PITI).

13%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.8x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

28.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 24450 in Lexington city, VA, a household would need roughly $81,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,890. That is roughly in line with the local median household income ($77,839). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 17% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
66.8%+2% vs US avg
x
Vacancy Rate
16.6%+62% vs US avg
x
Broadband Access
89.4%+3% vs US avg
x
4+ Bedrooms
5.0%-66% vs US avg
x
Built Pre-1939
3.3%-74% vs US avg
x
Built Post-2014
0.9%-86% vs US avg
x
Rent Burden >30%
20.6%-59% vs US avg
x
Mortgage-Free
47.2%+23% vs US avg
x
$294,200
Home Value
$851
Rent
1975
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached74.3%
  • 1-unit attached3.1%
  • 2-9 units15.0%
  • 10+ units4.0%
  • Mobile home & other3.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$294,200
Median rent$851
Owner-occupied66.8%
Vacant16.6%
Price-to-income3.8x
Est. income to buy$81,000