Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 7,420 ↑ 1.4% since 2020 |
| Median Household Income | $89,598 20% above national median |
| Median Home Value | $275,300 |
| Unemployment Rate | 0.7% |
| Median Age | 22.5 years |
| Housing Vacancy Rate | 22.0% |
| Total Land Sales (Past 12 Months) | 8 transactions |
| Active Listings | 4 properties |
| Avg Days on Market | 470 days |
Rural Land Sales (1+ Acres) (Jun 2025 – Jun 2025)
| Metric | Value |
|---|---|
| Median Price/Acre | $6,529 |
| Recent Sales | 3 transactions |
| Avg Days on Market | 410 days |
| Avg Parcel Size | 40.90 acres |
| Active Listings | 2 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Location |
|---|---|---|---|---|
| Jun 2025 | 60.00 | $368,000 | $6,133 | Lexington |
| Jun 2025 | 35.00 | $267,000 | $7,629 | Lexington |
Suburban/Urban Land Sales (Under 1 Acre)
| Metric | Value |
|---|---|
| Median Lot Price | $80,000 |
| Recent Sales | 5 transactions |
| Avg Days on Market | 505 days |
| Avg Parcel Size | 0.40 acres |
| Active Listings | 2 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Location |
|---|---|---|---|
| Sep 2025 | 0.78 | $80,000 | Lexington |
| Aug 2025 | 0.69 | $73,500 | Lexington |
| Aug 2024 | 0.21 | $1,550,000 | Lexington |
| Apr 2024 | 0.23 | $535,000 | Lexington |
| Oct 2023 | 0.12 | $25,000 | Lexington |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 7,420 |
| Population (2020) | 7,320 |
| Population Growth | 1.37% |
| Median Household Income | $89,598 |
| Median Home Value | $275,300 |
| Total Housing Units | 2,644 |
| Vacant Housing Units | 583 |
| Housing Vacancy Rate | 22.0% |
| Median Age | 22.5 |
| Bachelor's Degree or Higher | 809 (10.9%) |
| Unemployment Rate | 0.7% |
Market Overview
Lexington city, Virginia has a population of 7,420, which has grown 1.37% since 2020. The median household income is $89,598, above the national median of $74,580 by 20.1%. The housing vacancy rate of 22.0% suggests soft market conditions. The county's location in Virginia makes it accessible for investors and developers seeking rural land. Recent rural land sales show a median price of $6,529 per acre, with properties averaging 40.90 acres. There are currently 4 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Lexington city, Virginia?
As of the 2023 American Community Survey, Lexington city has a population of 7,420. The county has grown 1.37% since the 2020 Census, indicating a growing community.
What is the median household income in Lexington city?
The median household income in Lexington city is $89,598, which is 20.1% above the national median of $74,580.
Is Lexington city growing or shrinking?
Lexington city is growing. The population has increased 1.37% since 2020.
What is the housing market like in Lexington city?
The median home value in Lexington city is $275,300. The housing vacancy rate is 22.0%, which suggests soft market conditions. The unemployment rate is 0.7%, reflecting the local economic conditions. Recent rural land sales (1+ acres) show a median price of $6,529 per acre. Suburban/urban lots under 1 acre have a median lot price of $80,000.
Does Reelvest buy land in Lexington city, Virginia?
Yes! Reelvest Properties buys vacant land throughout Virginia, including Lexington city. We make cash offers within 24-48 hours, close in 14-30 days, and pay all closing costs. Get your free cash offer today.
Data Sources: Market data reflects recent vacant land transactions in the county. Demographic data from U.S. Census Bureau American Community Survey (2023), Bureau of Labor Statistics (2025). Updated monthly.