Total monthly cost of ownership
Cost to Own a Home in Lexington, Tennessee
A $173,000 home here costs
$1,386per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $889. The real number is $496 higher every month — 56% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lexington against Henderson County and Tennessee
| Measure | Lexington | Henderson County |
|---|---|---|
| Median home value | $173,200 | $156,000 |
| Median property tax | $975 | $732 |
| Effective tax rate | 0.563% | 0.469% |
| Median gross rent | $758 | $812 |
| Population | 7,943 | 27,906 |
The weather behind that power bill
Lexington sits in Henderson County, which averages a high of 89.4°F in its hottest month and a low of 27.3°F in its coldest, with 54.75" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,604 cooling and 3,693 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Henderson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Henderson County
Full Henderson County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Lexington?
A $173,000 home in Lexington, Tennessee costs approximately $1,386 per month with 20% down at 6.66%. That is $889 principal and interest, $81 property tax, $73 homeowners insurance, $198 utilities and $144 set aside for maintenance.
What is the property tax rate in Lexington?
Lexington has an effective property tax rate of 0.563%, based on a median home value of $173,200 and median real estate taxes of $975. That is higher than the Henderson County average of 0.469%.
What is the average home price in Lexington?
The median owner-occupied home value in Lexington, Tennessee is $173,200, against $156,000 across Henderson County.
Is it cheaper to rent or buy in Lexington?
Median gross rent in Lexington is $758 a month, against $1,386 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lexington — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Tennessee.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.