Lexington, MA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lexington Housing Market Information

With a population of 33,132, 11,757 total housing units (homes and apartments), and a median house value of $1,025,344, Lexington house prices are not only among the most expensive in Massachusetts, Lexington real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Lexington, accounting for 75.70% of the town's housing units. Other types of housing that are prevalent in Lexington include large apartment complexes or high rise apartments ( 11.98%), row houses and other attached homes ( 7.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.15%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lexington. Owner-occupied housing accounts for 80.90% of Lexington's homes, and 61.69% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lexington's housing was primarily built during this period, from the '40s through the '60s. A full 41.79% of the town's housing hails from this era. Other housing ages represented in Lexington include homes built between 1970-1999 ( 23.01%) and housing constructed before 1939 ( 22.52%). There's also some housing in Lexington built between 2000 and later ( 12.68%).

Lexington Home Appreciation Rates

In the last 10 years, Lexington has experienced some of the highest home appreciation rates of any community in the nation. Lexington real estate appreciated 63.62% over the last ten years, which is an average annual home appreciation rate of 5.05%, putting Lexington in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lexington definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Lexington's appreciation rate, at 4.52%, has been at or slightly above the national average. In the latest quarter, Lexington's appreciation rate has been 1.23%, which annualizes to a rate of 5.02%.

Relative to Massachusetts, our data show that Lexington's latest annual appreciation rate is higher than 70% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Lexington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lexington - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lexington real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$1,025,344

Lexington, MA HOME PRICES

> $1,228,000
32.8%
32.8%
$921,001 - $1,228,000
28.0%
28.0%
$614,001 - $921,000
26.1%
26.1%
$491,001 - $614,000
5.5%
5.5%
$369,001 - $491,000
3.4%
3.4%
$246,001 - $369,000
1.1%
1.1%
$123,001 - $246,000
1.3%
1.3%
$62,001 - $123,000
0.9%
0.9%
$0 - $62,000
0.9%
0.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MA

Value Relative To Nation

Number Of Homes And Apartments:
11,757

Lexington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
116.28% 3.79%
10
9
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$4,493 / per month

Homeownership Rate

Owners
80.9%
80.9%
Renters
19.1%
19.1%
Vacant
3.2%
3.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
12.7%
12.7%
1970 - 1999
23.0%
23.0%
1940 - 1969
41.8%
41.8%
1939 or Older
22.5%
22.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
75.7%
75.7%
Townhomes
7.1%
7.1%
Small Apt. Buildings
5.2%
5.2%
Apt. Complexes
12.0%
12.0%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
6.2%
6.2%
2 Bedrooms
17.5%
17.5%
3 Bedrooms
31.3%
31.3%
4 Bedrooms
30.4%
30.4%
5 or more bedrooms
14.0%
14.0%
0.0% 100.0%
% OF HOMES