Lexington, SC Real Estate Market

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 Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Lexington, SC Housing Market Trends

With a population of 22,157, 7,907 total housing units (homes and apartments), and a median house value of $243,382, 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 62.56% of the town's housing units. Other types of housing that are prevalent in Lexington include large apartment complexes or high rise apartments ( 21.62%), row houses and other attached homes ( 6.55%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.52%).

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 61.64% owning and 38.36% renting.

Lexington homes and real estate are some of the newest in America. 52.39% 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 ( 42.78%), and between 1940-1969 ( 3.82%). There's also some housing in Lexington built before 1939 ( 1.02%).

Lexington Home Appreciation Rates

Lexington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lexington during the period has been just 2.20%, which is lower than 70% of US communities.

Over the last year, Lexington appreciation rates have trailed the rest of the nation. In the last twelve months, Lexington's appreciation rate has been 4.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lexington were at 1.29%, which equates to an annual appreciation rate of 5.28%.

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 lower than 80% 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:
$243,382

Lexington, SC HOME PRICES

> $1,147,000
0.2%
0.2%
$860,001 - $1,147,000
1.3%
1.3%
$574,001 - $860,000
1.7%
1.7%
$459,001 - $574,000
4.3%
4.3%
$344,001 - $459,000
9.9%
9.9%
$229,001 - $344,000
33.6%
33.6%
$115,001 - $229,000
43.0%
43.0%
$57,001 - $115,000
4.1%
4.1%
$0 - $57,000
1.9%
1.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for SC

Value Relative To Nation

Number Of Homes And Apartments:
7,907

Lexington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
48.64% 1.88%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,350 / per month

Homeownership Rate

Owners
61.6%
61.6%
Renters
38.4%
38.4%
Vacant
7.7%
7.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
52.4%
52.4%
1970 - 1999
42.8%
42.8%
1940 - 1969
3.8%
3.8%
1939 or Older
1.0%
1.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.6%
62.6%
Townhomes
6.5%
6.5%
Small Apt. Buildings
5.5%
5.5%
Apt. Complexes
21.6%
21.6%
Mobile Homes
3.7%
3.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.4%
4.4%
1 Bedroom
7.0%
7.0%
2 Bedrooms
23.5%
23.5%
3 Bedrooms
40.8%
40.8%
4 Bedrooms
19.1%
19.1%
5 or more bedrooms
5.3%
5.3%
0.0% 100.0%
% OF HOMES