Quick facts: Lexington, NC

Quick Facts

100.6
Cost of Living
above US average
19,679
Population
36.08
Crime Rate per 1000
above US average
$36,868
Median Income
below US average
$275,000
Median House Price
above US average
$1337.62
Average Rent
below US average
15%
Poverty Rate
above US average
5.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $36,868.

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Income Needed to Buy

βœ— Stretch
$86k/year
Based on $275,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $86k vs median $36,868
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Income Needed to Rent

⚠ Stretch
$57k/year
Based on $1337.62/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $57k vs median $36,868
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lexington, NC

Lexington, North Carolina, is a charming city known as the "Barbecue Capital of the World." Located in Davidson County, it boasts a rich history, with roots dating back to the 19th century. The city offers a picturesque downtown area featuring historic buildings, unique shops, and local eateries. Lexington is famous for its Lexington-style barbecue, which is a must-try for visitors and locals alike. The annual Barbecue Festival, held each October, attracts thousands, highlighting the city's culinary pride. Outdoor enthusiasts can enjoy various parks, such as the expansive Richard Childress Racing Park, which offers recreational activities like walking trails and sports facilities. The nearby High Rock Lake also provides opportunities for boating and fishing. Culturally, Lexington is home to several museums, including the Childress Vineyards and the Lexington County Museum, showcasing the area's heritage and wine production. Overall, Lexington is a welcoming community with a blend of history, cuisine, and recreation, making it an enjoyable destination in North Carolina.

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