Lexington, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lexington, TN 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lexington Housing Market Information

With a population of 7,822, 2,971 total housing units (homes and apartments), and a median house value of $118,368, house prices in Lexington are solidly below the national average.

Single-family detached homes are the single most common housing type in Lexington, accounting for 64.57% of the city's housing units. Other types of housing that are prevalent in Lexington include duplexes, homes converted to apartments or other small apartment buildings ( 16.03%), mobile homes or trailers ( 11.23%), and a few large apartment complexes or high rise apartments ( 5.44%).

The most prevalent building size and type in Lexington are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.23% owning and 41.77% renting.

There is a lot of housing in Lexington built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lexington built between 1940-1969 ( 27.89%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.52%). There's also some housing in Lexington built before 1939 ( 3.74%).

Vacant housing appears to be an issue in Lexington. Fully 18.85% of the housing stock is classified as vacant. Left unchecked, vacant Lexington homes and apartments can be a drag on the real estate market, holding Lexington real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

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 2.29%, which ranks in the top 50% nationwide. This equates to an annual average Lexington house appreciation rate of 0.23%.

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 2.97%, 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 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$118,368

Lexington, TN HOME PRICES

Value Range
> $1,069,000 0.0
$802,001 - $1,069,000 0.6
$535,001 - $802,000 0.0
$428,001 - $535,000 1.8
$321,001 - $428,000 2.3
$214,001 - $321,000 6.8
$107,001 - $214,000 33.6
$53,001 - $107,000 39.0
$0 - $53,000 16.0

Average for TN
Low for Nation

Value Relative to Nation Value Relative to State
66.4596273291926 53.3163265306122

Number Of Homes And Apartments:
2,971

Lexington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
25.04% 1.30% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$785 / per month

Homeownership Rate

Homeownership
Owners 58.23
Renters 41.77
Vacant 18.85

Housing Market Details

 

Age of Homes

AGE OF Lexington HOMES
2000 or Newer 10.5
1970 - 1999 57.9
1940 - 1969 27.9
1939 or Older 3.7

Types of Homes

TYPE OF Lexington HOMES
Single-Family 64.6
Townhomes 2.6
Small Apt. Buildings 16.0
Apt. Complexes 5.4
Mobile Homes 11.2
Other 0.1

Home Size

SIZE OF Lexington HOMES
No Bedroom 1.48
1 Bedroom 7.21
2 Bedrooms 32.83
3 Bedrooms 39.47
4 Bedrooms 15.84
5 or more bedrooms 3.17

Popular Communities Near Lexington, TN

Zip Codes in Lexington, TN