Cost Of Living in Lexington, VA

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Lexington	Virginia	National
Cost of living	104	109	100
Goods & Services	96	100	100
Groceries	96	101	100
Health care	102	99	100
Housing	118	130	100
Transportation	88	95	100
Utilities	113	104	100

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Cost Of Living Quick Facts

The cost of living in Lexington is 5% lower than the Virginia average
The cost of living in Lexington is 4% higher than the national average
Lexington housing is 18% higher than the national average
Virginia general sales tax is 4% higher than the national average
Virginia state income tax is 23% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$69,833	$5,819	$1,629	$2,095
Renters	$26,169	$2,181	$611	$785

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Lexington, VA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Lexington, homeowners have a median income of $69,833. Using that number, a maximum of $1,629 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $26,169, which means there is a maximum of $611 to be spent on the costs of renting a home or apartment.

Virginia Sales Tax

State	General Sales Tax	With Max Surtax
Virginia	5.3%	6%

Virginia Income Tax

State	Income Tax (Low)	Income Tax (High)
Virginia	2%	5.75%

Goods & Services

Item	Lexington	National avg.	Difference
Haircut	$24.89	$24.26	2.6%
Beauty Salon	$53.95	$45.56	18.4%
Toothpaste	$3.79	$3.70	2.3%
Shampoo	$1.34	$1.28	4.6%
Movie	$13.59	$12.13	12.0%
Bowling	$18.42	$18.00	2.3%

Groceries

Item	Lexington	National avg.	Difference
Ground Beef	$5.32	$5.84	8.8%
Fried Chicken	$1.32	$1.57	16.1%
Milk	$4.70	$4.67	0.7%
Potatoes	$5.17	$4.93	4.7%
Pizza	$12.24	$12.09	1.3%
Beer	$10.69	$10.41	2.7%

Health Care

Item	Lexington	National avg.	Difference
Optometrist	$136.88	$125.68	8.9%
Doctor	$139.83	$135.78	3.0%
Dentist	$105.92	$113.29	6.5%
Ibuprofen	$10.61	$10.65	0.4%
Lipitor	$387.25	$468.60	17.4%

Housing

Item	Lexington	National avg.	Difference
Home Price	$235,400.00	$184,700.00	27.4%
Avg. Mortgage Payment	$2,606.96	$2,346.69	11.1%
Apartment Rent	$916.00	$949.00	3.5%

Transportation

Item	Lexington	National avg.	Difference
Gasoline	$3.36	$3.46	2.8%
Tire Balancing	$50.24	$59.92	16.1%

Utilities

Item	Lexington	National avg.	Difference
All Electricity	$213.27	$193.99	9.9%
Phone	$184.83	$192.25	3.9%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Goshen, VA	336	86	13.6%
Glasgow, VA	1,306	89	10.8%
Buena Vista, VA	6,477	91	9.1%
East Lexington, VA	1,959	101	1.0%
Lexington, VA	7,205	104	3.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Viola, NY	7,205	180	80.4%
Sky Lake, FL	7,204	99	1.2%
Richland, MS	7,203	86	13.6%
Brownsburg-Chatham, QC	7,209	n/a
Batesville, MS	7,200	91	9.1%
Lexington, VA	7,205	104	3.8%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Lexington, VA