Lexington, Massachusetts Housing Market Prices
Lexington Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 355% above the Massachusetts median$2,250,000
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Median rent 64% above the Massachusetts median$2,890
Housing Market Overview
| Metric | Lexington | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,250,000 | $494,523 | $248,835 |
| Price Trend (Annual %) | 41.9% | 6.6% | 7.5% |
| Median Gross Rent | $2,890 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.3% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lexington is about 355% higher than in Massachusetts. Rent is about 64% higher than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lexington, up about 41.9% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Lexington rose about 71.1% between 2015 and 2024, from $1,689 to $2,890. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 10.9 yearly household incomes in Lexington.
Buying the median-priced home in Lexington costs roughly 64.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lexington. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Lexington | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,250,000 | $494,523 | $248,835 |
| Median Household Income | $205,627 | $104,336 | $80,455 |
| Price-to-Income Ratio | 10.9 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lexington rose about 418.1%, while median household income rose about 116.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lexington | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 78.7% | 57.5% | 58.5% |
| Rental Rate | 19.1% | 34.4% | 31.2% |
| Vacancy Rate | 2.2% | 8.1% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Lexington has a homeownership rate of 78.7%, higher than the Massachusetts average of 57.5%. Its housing vacancy rate is 2.2%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Lexington | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.72 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1966 | 1963 | 1978 |
| Median Number of Rooms | 7.5 | 5.5 | 5.5 |
The typical housing unit in Lexington was built around 1966. On average, 2.7 people live in a home with about 7.5 rooms, staying for about 15.0 years on average.
Lexington, MA Housing Compared With Nearby Cities
How Lexington, MA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lexington, MA | 34,306 | $2,250,000 #1/3 | $2,890 #1/3 | 80.5% #1/3 |
| Waltham, MA | 64,842 | $637,278 | $2,267 | 49.7% |
| Arlington, MA | 46,270 | $1,743,589 | $2,082 | 61.6% |
Frequently Asked Questions
Common questions about the housing market in Lexington, Massachusetts.
What is the median home price in Lexington, Massachusetts?
The median home price in Lexington, Massachusetts is $2,250,000, higher than the Massachusetts average of $494,523.
What is the average home price in Lexington, Massachusetts?
The typical home price in Lexington, Massachusetts, reported as the median sale price, is $2,250,000. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lexington, Massachusetts?
The median gross rent in Lexington, Massachusetts is $2,890 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Lexington in 2020?
In 2020, the median gross rent in Lexington, Massachusetts was $2,431 per month.
What is the price-to-rent ratio in Lexington, Massachusetts?
The price-to-rent ratio in Lexington, Massachusetts is about 64.9, meaning it would take roughly 64.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lexington.
Are home prices or rent rising faster in Lexington, Massachusetts?
Both home prices and rent are rising in Lexington, up about 41.9% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lexington, Massachusetts?
78.7% of households in Lexington, Massachusetts own their home, higher than the Massachusetts average of 57.5%.
What is the vacancy rate in Lexington, Massachusetts?
The housing vacancy rate in Lexington, Massachusetts is 2.2%, lower than the Massachusetts average of 8.1%.
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