Lexington city, Virginia Income Statistics
Lexington city Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
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F
Lexington city Well below averageLeast wealthy county in Virginia
Source: Map AI Methodology
Income Statistics Overview
| Metric | Lexington city | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $88,920 | $93,527 | $80,455 |
| Median Personal Income | $62,485 | $68,139 | $60,758 |
| Average Yearly Income Growth | 13.0% | 4.3% | 4.8% |
| Six-Figure Earners | 9.0% | 18.3% | 13.9% |
| $200k+ Households | 7.3% | 17.7% | 13.2% |
The median household income in Lexington city is about 5% lower than in Virginia. Income has been growing faster in Lexington city (13.0%/yr) than in Virginia (4.3%/yr).
About 9% of adults in Lexington city earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Lexington city, Virginia grew by 162.6% from 2009 to 2024, reaching $88,920 in 2024. That's an average of about 13.0% per year.
Income Inequality and the Gender Pay Gap in Lexington city
| Metric | Lexington city | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.687 | 0.544 | 0.552 |
| Male Median Income | $70,431 | $78,585 | $69,667 |
| Female Median Income | $63,171 | $62,626 | $56,850 |
| Gender Pay Gap | 10.3% | 20.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Lexington city, it is 0.687, higher than Virginia's 0.544, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 11% more than women's income in Lexington city, Virginia. Over a 35-year career, a 11% wage gap accumulates to roughly $254,100 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lexington city, Virginia has narrowed from about 44% to 10% in 2024. Over that period the gap in 2015 women out-earned men by 7%. In dollar terms, the gap has narrowed by $19,813 since 2009.
Employment
| Metric | Lexington city | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.0% | 4.1% | 5.2% |
| Working from Home | 14.5% | 18.3% | 15.0% |
| Commute time (minutes) | 10 | 23 | 22 |
Approximately 19 people are unemployed in Lexington city, Virginia.
The average commute time in Lexington city is 10 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lexington city, Virginia has fallen from 1.6% to 1.0% in 2024. Over that period the rate peaked at 4.8% in 2014 and fell as low as 1.0% in 2023.
Lexington city, VA Wealth Compared With Nearby Counties
Lexington city, VA is the 4th largest of the 5 counties compared here, 7,525 residents against a local median of 27,005. The measure that sets Lexington city, VA apart most is income growth: 13.0%/yr, 260% above the local median of 3.6%/yr. That is the better end of the local range on this measure.
Unemployment tells the same story from another angle: 1.0% against a local median of 3.1%, 68% below it. The picture is mixed rather than uniform: income growth runs ahead of the neighbourhood while income inequality runs behind it, so Lexington city, VA is trading one against the other rather than simply out-performing what surrounds it. The counties themselves sit within 1.5%/yr of each other on income growth, a tighter band than the gap between any of them and Lexington city, VA, which makes it a genuine outlier here rather than one end of a wide local spread. Lexington city, VA has the highest income growth of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Lexington city, VA | 7,525 | $88,920 #1/5 | 13.0%/yr #1/5 | 1.0% #1/5 | 0.687 #5/5 |
| Rockbridge County, VA | 22,531 | $65,884 | 3.2%/yr | 3.8% | 0.515 |
| Amherst County, VA | 31,478 | $67,755 | 4.7%/yr | 4.6% | 0.518 |
| Bath County, VA | 4,100 | $58,076 | 3.7%/yr | 1.3% | 0.564 |
| Botetourt County, VA | 34,003 | $81,753 | 3.6%/yr | 2.4% | 0.515 |
Conclusion
Considering all these factors, Lexington city, Virginia has an overall wealth index grade of F, making it worse than Virginia, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lexington city, Virginia.
How Rich Is Lexington city, Virginia?
Lexington city has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $88,920, about 5% lower than the Virginia average of $93,527.
Are incomes growing in Lexington city, Virginia?
Between 2009 and 2024, the median household income in Lexington city, Virginia rose 163%, from $33,863 to $88,920. Over the same years, income here outpaced Virginia as a whole: +163% against +55%.
What was the median household income in Lexington city in 2023?
In 2023, the median household income in Lexington city, Virginia was $87,664, up 5% from $83,459 in 2022. The Virginia median that year was $91,420.
What was the median household income in Lexington city in 2020?
In 2020, the median household income in Lexington city, Virginia was $51,071. By 2024 it had risen 74% to $88,920.
How strong is the job market in Lexington city, Virginia?
Unemployment in Lexington city, Virginia is only 1.0%, well below the Virginia rate of 4.1%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Lexington city, Virginia?
The Gini coefficient in Lexington city is 0.687. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Lexington city, Virginia?
Since 2009, the income gap between men and women in Lexington city, Virginia has narrowed from about 44% to 10% in 2024. Over that period the gap in 2015 women out-earned men by 7%. In dollar terms, the gap has narrowed by $19,813 since 2009.
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