Lexington, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lexington, SC Real Estate Data


Lexington Housing Market Information

With 20,138 people, 7,565 houses or apartments, and a median cost of homes of $203,347, Lexington real estate is some of the most expensive in South Carolina, although Lexington home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Lexington, accounting for 56.05% of the town's housing units. Other types of housing that are prevalent in Lexington include large apartment complexes or high rise apartments ( 32.37%), row houses and other attached homes ( 5.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.10%).

The most prevalent building size and type in Lexington are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 56.18% owning and 43.82% renting.

Lexington homes and real estate are some of the newest in America. 49.82% of Lexington's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lexington real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 44.63%), and between 1940-1969 ( 4.75%).

Lexington Home Appreciation Rates

Appreciation rates for homes in Lexington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.09%, which ranks in the top 50% nationwide. This equates to an annual average Lexington house appreciation rate of 0.40%.

Appreciation rates are so strong in Lexington that despite a nationwide downturn in the housing market, Lexington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lexington appreciation rates continue to be some of the highest in America, at 6.38%, which is higher than appreciation rates in 78.79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lexington. Lexington appreciation rates in the latest quarter were at -0.62%, which equates to an annual appreciation rate of -2.46%.

Notably, Lexington's appreciation rate in the latest quarter is one of the lowest in America.

Relative to South Carolina, our data show that Lexington's latest annual appreciation rate is higher than 60% of the other cities and towns in South Carolina.

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

 

Median Home Value:
$203,347

Lexington, SC HOME PRICES

Value Range
> $1,092,000 0.2
$819,001 - $1,092,000 0.3
$546,001 - $819,000 2.7
$437,001 - $546,000 3.3
$328,001 - $437,000 10.6
$219,001 - $328,000 24.7
$109,001 - $219,000 44.6
$55,001 - $109,000 9.5
$0 - $55,000 4.2

Very High for SC
High for Nation

Value Relative to Nation Value Relative to State
32.2714762546115 13.7546468401487

Number Of Homes And Apartments:
7,565

Rent & Ownership

 

Average Market Rent:
$1,185 / per month

Homeownership Rate

Homeownership
Owners 56.18
Renters 43.82
Vacant 8.56

Housing Market Details

 

Age of Homes

AGE OF Lexington HOMES
2000 or Newer 49.8
1970 - 1999 44.6
1940 - 1969 4.8
1939 or Older 0.8

Types of Homes

TYPE OF Lexington HOMES
Single-Family 56.0
Townhomes 5.6
Small Apt. Buildings 4.1
Apt. Complexes 32.4
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Lexington HOMES
No Bedroom 0.70
1 Bedroom 14.41
2 Bedrooms 24.73
3 Bedrooms 40.02
4 Bedrooms 16.63
5 or more bedrooms 3.51

Lexington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
30.46% 1.58% 5 3
* 10 is highest