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City · 7,962 residents · Henderson County, Tennessee

Lexington , Tennessee

In Lexington, a typical home is worth $176,000 and typical rent is $720 a month. Compared with all of Henderson County, typical household income is 11% lower, the typical home value is 7% higher, and the share of households that own their home is 10 points lower.

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  • Typical home value

    $176,000

    7% above the county

    39% below Tennessee

    • Lexington
    • Henderson
    • Tennessee

  • Typical rent

    $720a month

    3% below the county

    39% below Tennessee

    • Lexington
    • Henderson
    • Tennessee

  • Typical household income

    $49,057a year

    11% below the county

    30% below Tennessee

    • Lexington
    • Henderson
    • Tennessee

  • Households that own their home

    63%

    10 points below the county

    4 points below Tennessee

    • Lexington
    • Henderson
    • Tennessee

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$218,410
6.3% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Lexington is in Henderson County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Henderson County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Lexington apart

What this place has that others do not, from public data, most unusual first.

  1. According to Zillow, in the 12 months to September 2026 the typical home value in Lexington rose 6.3%; in Tennessee, it rose 0.6%.

  2. Nearby, in Milan, the typical home value is $144,100: 18% less than in Lexington ($176,000).

  3. Lexington has the 8th lowest typical rent of the 109 cities in Tennessee with more than 5,000 people ($720).

  4. 63% of households in Lexington own their home, against 73% in Henderson County.

  5. 10% of households in Lexington have no internet at home (15% in Henderson County).

Sources: Zillow (September 2026 data); U.S. Census Bureau (Average 2020–2024). Zillow data

The homes here

Housing in Lexington

What homes there are in Lexington, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses, standing on their own, make up 78% of homes here, against 71% in Henderson County.

Year built

Homes in Lexington are older: the typical year built is 1981; in Henderson County, 1988.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

At least 98% of owner-occupied homes in Lexington are worth less than $500,000, below the FHA loan limit for Henderson County ($541,287).

Monthly rent with utilities

About 85% of rented homes in Lexington cost less than HUD's 2-bedroom fair market rent for Henderson County ($995).

With a mortgage

$1,138 a month

Henderson County: $1,170 a month

Without a mortgage

$385 a month

Henderson County: $398 a month

Owners with a mortgage

53%

Henderson County: 44%

The typical cost for an owner with a mortgage in Lexington is $1,138 a month, near the figure in Henderson County ($1,170).

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Homes in Lexington gained value more slowly than in Henderson County: 53% since 2015–2019, against 62%.

Rent in Lexington moved so little since 2015–2019 that the Census cannot say whether it rose or fell.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureLexingtonHenderson CountyTennesseeUnited States
Rental vacancy Unreliable estimateUnreliable estimate6.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room Unreliable estimateUnreliable estimate2.2%3.4%
People per household 2.562.532.452.53
Drive alone 86%83%76%69%
Carpool Unreliable estimate5%8%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike Unreliable estimateUnreliable estimate1%3%
Work from home Unreliable estimate10%13%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

A household in Lexington has 2.56 people on average, about the same as in Henderson County (2.53).

To get to work, 86% of workers in Lexington drive alone; in Henderson County, 83%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Lexington?

A typical home is tight for the typical income

We start with a typical home in Lexington, worth $176,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 34% of the typical household income in Lexington, which is $49,057 a year. For that payment to be 28% of income, a household would need to earn about $60,109 a year.

The calculator's FHA and conventional loan limits are those of all of Henderson County.

Your numbers

Local data
$

Starts at the typical home value in Lexington. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $6,160 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,403

at 7.18% · 30 years

Loan amount
$172,812
Total interest
$248,636
Paid off in
November 2056

Includes $2,972 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,145 a month

  • Tight

    $1,145 to $1,472 a month

    Your payment · 34%

  • Hard

    more than $1,472 a month

Compared with the typical household income in Lexington ($49,057 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,403
Principal & interest$1,171
Property tax$81
Home insurance$73
FHA mortgage insurance (MIP)$78

You need at least $6,160 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Lexington and Henderson County

Lexington is in Henderson County, Tennessee. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Lexington's own numbers

Typical home value
$176,000
Typical monthly rent
$720
Typical yearly household income
$49,057
Households that own their home
63%
Effective property tax rate
0.55%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Henderson County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$995
Price change over 5 years (FHFA)
+73%
Homes in a high flood-risk zone
0.4%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Henderson County.

Everything about Henderson County

Buying

Buying a home in Lexington

A typical home in Lexington is worth $176,000: 7% above the county and 39% below Tennessee. With the typical household income in Lexington ($49,057 a year), a typical home costs 3.6 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Lexington 3.6 years
  • Henderson 3.0 years
  • Tennessee 4.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Henderson County

According to FHFA’s house price index, home prices in Henderson County rose 111% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Henderson County.

Period County Tennessee U.S.
Last year (2025) +9.5% +2.4% +2.9%
5 years (2020–2025) +73% +60% +47%
10 years (2015–2025) +111% +114% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Lexington next to Henderson County, Tennessee and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Lexington $176,000
  • Henderson $164,800
  • Tennessee $286,700
  • United States $332,700
Typical monthly rent
  • Lexington $720
  • Henderson $745
  • Tennessee $1,189
  • United States $1,413
Typical yearly household income
  • Lexington $49,057
  • Henderson $55,136
  • Tennessee $69,595
  • United States $80,734
See the full table
Lexington next to Henderson County and Tennessee
Measure Lexington Henderson County Tennessee U.S.
Typical home value $176,000 $164,800 $286,700 $332,700
Typical monthly rent $720 $745 $1,189 $1,413
Typical yearly household income $49,057 $55,136 $69,595 $80,734
Households that own their home 63% 73% 67% 65%
Typical yearly property tax $964 $794 $1,442 $3,119
Effective property tax rate 0.55% 0.48% 0.5% 0.94%
Renters with high rent for their income 38% 41% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Henderson County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Lexington

For a typical $176,000 home in Lexington, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Lexington's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,403a month

    Least cash to close
    Down payment
    $6,160
    Cash to close
    $11,440
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $78

  • Conventional, 5% down $1,370a month

    Down payment
    $8,800
    Cash to close
    $14,080
    Rate
    7.18%
    Mortgage insurance
    PMI · $84

  • Conventional, 20% down, no PMI $1,108a month

    Down payment
    $35,200
    Cash to close
    $40,480
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,271a month

    Down payment
    $26,400
    Cash to close
    $31,680
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Lexington and for Henderson County.

Property tax

Effective rate in Lexington

0.55%of the home’s value each year

$964 a year for the typical owner in Lexington.

  • Lexington 0.55%
  • Henderson 0.48%
  • Tennessee 0.5%

What Tennessee publishes Property tax relief for older, disabled and disabled-veteran homeowners (Tennessee Comptroller of the Treasury, 2026 Property Tax Relief Program brochure)

Exemptions and deadlines in Tennessee

Flood risk in Henderson County

FEMA does not publish these numbers by city: they are for all of Henderson County.

Homes in the high-risk zone
0.4%
54
Of those, with NFIP insurance
9.3%
County Tennessee U.S.
Homes in the high-risk zone 0.4% 1.6% 3.5%
Of those, with NFIP insurance 9.3% 25% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Lexington

Typical rent in Lexington is $720 a month: 3% below the county. In Lexington, 38% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Henderson County, by unit size. To pay the 2-bedroom one ($995 a month) without spending more than 30% of your income, you would need to earn $19.13 an hour working full time.

HUD fair market rent for all of Henderson County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $761 $14.63 $30,440
1 bedroom $914 $17.58 $36,560
2 bedrooms $995 $19.13 $39,800
3 bedrooms $1,248 $24.00 $49,920
4 bedrooms $1,365 $26.25 $54,600

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Lexington

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Lexington is in ZIP code 38351.

For 2 bedrooms it is $1,140: $145 more than the fair market rent for Henderson County ($995).

  • 38351 $1,140$1,510

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Lexington when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Lexington

HUD lists 5 buildings with rents for lower incomes in Lexington. These are the largest.

  • Willow Courts 102 Willow Cts, Lexington 38351 120 low-income homes · Run by Lexington Housing Authority · Average payment: $414 a month · Average wait: 5 months (731) 968-7506
  • Woodland Homes 58 Woodland Dr Ext, Lexington 38351 60 low-income homes · For older adults (731) 968-7008
  • Lexington Village 308 S Broad St, Lexington 38351 50 low-income homes · For families (731) 968-5017
  • Jeffrey Meadows 391 N Main St, Lexington 38351 40 low-income homes · 1 bd: 10 · 2 bd: 15 · 3 bd: 15 · In service since 2011 · For people with disabilities
  • Lexington Civic Housing 6 Rotary Dr, Lexington 38351 25 low-income homes · 1 bd: 1 · 2 bd: 24 · In service since 2011 · For people with disabilities

See all 6 buildings in Henderson County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Lexington

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Henderson County. The nearest ones are below; many serve by phone or online.

A man listens closely, seated at a meeting table.

HUD counseling is free or low-cost

Assistance programs in Lexington

No down payment, repair or rent-help program on our list is for Lexington or Henderson County. The ones below are statewide in Tennessee: they work in Lexington the same as in the rest of the state.

Which programs do I qualify for? All programs in Tennessee

  • Great Choice Plus

    Statewide in Tennessee

    Tennessee state agency help with the down payment and closing costs alongside the Great Choice mortgage: $6,000 or $10,000 forgivable over 10 years with no payments, or up to 5% of the price (maximum $15,000) as a 30-year second mortgage. Offered by Tennessee Housing Development Agency (THDA).

    ForgivableRepayable

    See the program Official page

Housing counselors near Lexington

The HUD-approved agencies closest to the center of Lexington, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • West Tennessee Legal Services, Inc.

    210 W Main St, Jackson · 25 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    (731) 423-0616

  • West Tennessee Legal Services, Incorporated

    210 West Main Street, Jackson · 25 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    731-423-0616-1250

  • Good Neighbor Foundation

    129 W Fowlkes St, Franklin · 86 miles away · Spanish

    Also serves in Arabic.

    • Mortgage delinquency and default
    • Home improvement and repairs
    • and 3 more
    (615) 610-4912

All counseling agencies in Tennessee

Help in Spanish near Lexington

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Lexington

HUD’s record names them for Lexington or Henderson County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

All housing agencies in Tennessee Source: HUD

Cities

Nearby cities

The cities closest to Lexington, with the typical home value.

Everything about Henderson County Housing in Tennessee

Neighboring counties

If Henderson County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Lexington.

All guides
Two parents walk hand in hand with their little daughter.

Questions

Housing questions about Lexington

Short answers with the numbers for Lexington and all of Henderson County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Lexington?

The typical home value in Lexington is $176,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Henderson County it is $164,800.

How much does it cost to rent in Lexington?

Typical rent in Lexington is $720 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Henderson County is $995.

What is the FHA loan limit in Lexington?

Lexington uses the FHA limit for all of Henderson County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Lexington?

The typical homeowner in Lexington pays $964 a year, according to the U.S. Census Bureau. That is 0.55% of the home’s value; in Henderson County, the rate is 0.48%.

Where can I find free help to buy or rent in Lexington?

We found no HUD-approved counseling agencies with an office in Henderson County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).