States › Tennessee › Lexington

Is Lexington, TN expensive to live in?

CheapRent takes 9 cents of every $1 people earn here.
🏠 Rent per month (2026)$39877% lower than U.S. average
💵 Families earn per year (2026)$52,908about $4,409/month · 39% lower than U.S. average
🔑 House price$176,00047% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs about 3.3 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $15,920 a year. That is $8 an hour at a full-time job.

Is rent cheaper than other Tennessee cities?

Yes. Rent here is cheaper than in most of Tennessee. It is number 1 of 114 cities from cheapest to most expensive.

Lexington
$398
Harrison
$1,279
Humboldt
$1,024
Milan
$847
Ripley
$842
Pulaski
$832
Thompson's Station
$2,197

How much do households earn in Lexington?

Under $25k
21.8%
$25k–50k
31.4%
$50k–100k
25.4%
$100k–150k
11.3%
$150k+
5.4%

Share of households by yearly income. 16.6% of households earn $100,000 or more.

Rent by apartment size in Lexington

SizeLexingtonU.S. average
1 bedroom$391$1,324
2 bedrooms$767$1,509
3 bedrooms$892$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Lexington overall?

Everyday prices in Tennessee overall are 8% below the U.S. average (index 91.9, U.S. = 100).

Housing
79
Goods (food, clothes…)
96
Utilities
72
Other services
95
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lexington, so the Tennessee figure is shown.

Taxes and bills in Lexington

🏛️ Property tax$964a year · 0.55% of home value · U.S. $3,119
⚡ Electric bill$141a month (typical) · U.S. $156

Life in Lexington

Commute to work24 minU.S.: 26.4 min
College degree16.5%U.S.: 35.7%
Own their home63%U.S.: 65.2%
Below poverty line18.4%U.S.: 12.5%
Unemployment8.3%U.S.: 5.2%

Is it cheaper to rent or buy in Lexington?

Renting is cheaper right now: about $823 a month less.

Renting
$398
Owning
$1,221

Owning assumes a typical $176,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $17,600 for the down payment.

Frequently asked questions

What is the average rent in Lexington, TN?

Renting in Lexington costs a median of about $398 a month in 2026, including utilities. The Tennessee median is $1,279.

How much do I need to make to live in Lexington?

To keep rent under 30% of income, you need about $15,920 a year, or $8 an hour at a full-time job.

Is Lexington cheap or expensive?

Lexington is rated Cheap: rent takes 9.0% of the typical household income of $52,908. It ranks 1st cheapest of 114 Tennessee cities we track.

How much are property taxes in Lexington?

The median homeowner in Lexington pays $964 a year in property taxes, about 0.55% of the median home value.

Is Lexington more expensive than the national average?

Overall prices in Tennessee are 8% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Lexington?

The median home value in Lexington is $176,000, about 3.3 times the typical yearly household income.

7,962 people live in Lexington. Numbers are typical (middle) values.