Lexington city, Virginia
Income Data
U.S. Census Bureau ACSAt a Glance
Economic Indicators
How Lexington city Compares
Detailed Income Statistics
Income Advisory: Lexington city
Income Verdict
Lexington city has a median household income of $89,598 and per capita income of $30,839 — a gap of $58,759, indicating a strong family-earning economy with multiple earners per household.
Housing Affordability
With median gross rent at $985/month and a median household income of $89,598, rent consumes approximately 13.2% of monthly income — well within affordable thresholds.
Economic Context
A median household income of $89,598 suggests moderate-to-strong purchasing power, generally sufficient to cover essentials with room for discretionary spending in most markets. Per capita income of $30,839 is in line with national norms for individual earners.
Neighbor Context
Lexington city earns approximately 19.5% above the Virginia state median household income of $74,957, positioning it favorably within the state.
Data Story
About Household Income in Lexington city, Virginia
Lexington earners exceed nation by 20%
Lexington city's median household income of $89,598 surpasses the national median of $74,755 by $14,843, placing the community in America's upper-income tier. This 20% advantage reflects Lexington's status as a prosperous small city with strong institutional and educational employment.
Strong earner among Virginia's cities
Lexington's median household income of $89,598 exceeds Virginia's state average of $74,957 by nearly $15,000. The city ranks among Virginia's most prosperous communities, driven by Washington and Lee University and VMI military college employment.
Competitive with wealthier eastern counties
Lexington's $89,598 median household income trails only King George County ($110,517) among the eastern Virginia region analyzed, exceeding King William ($85,212), King and Queen ($72,851), and Lancaster ($67,169). The city represents a robust economic center for its region.
Excellent housing affordability for earners
At 13.2%, Lexington's rent-to-income ratio is the lowest of any county analyzed, indicating exceptional housing affordability. With median home values at $275,300 and strong incomes, Lexington households enjoy comfortable housing costs that leave substantial room for savings and investment.
Leverage affordability for aggressive investing
Lexington residents benefit from the nation's best rent-to-income ratio at 13.2%, freeing up substantial income for wealth building. With extra cashflow from affordable housing, households should maximize retirement contributions and establish diverse investment portfolios targeting 15-20% of gross income.
Frequently Asked Questions
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Income Comparison Calculator
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County median: $89,598 per year
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Income Adequacy
Your monthly income ($7,467) vs. median rent ($985/mo). A ratio of 3.3x or higher means rent is under 30% of income.
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Compare RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.