Total monthly cost of ownership
Cost to Own a Home in Lexington, Texas
A $186,000 home here costs
$1,708per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $73,000 a year.
A standard mortgage calculator would have told you $1,014. The real number is $694 higher every month, 68% more than the payment most buyers budget for.
Compare Lee County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lexington from a five-year rolling sample, and with about 1,493 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Lee County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lexington against Lee County and Texas
| Measure | Lexington | Lee County |
|---|---|---|
| Median home value | $186,100 | $247,500 |
| Median property tax | $2,080 | $2,399 |
| Effective tax rate | 1.118% | 0.969% |
| Median gross rent | $1,071 | $1,050 |
| Population | 1,493 | 17,758 |
The weather behind that power bill
Lexington sits in Lee County, which averages a high of 96.0°F in its hottest month and a low of 38.6°F in its coldest, with 37.72" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,922 cooling and 1,774 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Lee County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lee County
Talk to someone who works this market
These are Lexington averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Lexington every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lexington I already own here and may sell
Common questions
How much does it cost to own a home in Lexington?
A $186,000 home in Lexington, Texas costs approximately $1,708 per month with 20% down at 7.24%. That is $1,014 principal and interest, $173 property tax, $123 homeowners insurance, $242 utilities and $155 set aside for maintenance.
What is the property tax rate in Lexington?
Lexington has an effective property tax rate of 1.118%, based on a median home value of $186,100 and median real estate taxes of $2,080. That is higher than the Lee County average of 0.969%.
What is the average home price in Lexington?
The median owner-occupied home value in Lexington, Texas is $186,100, against $247,500 across Lee County.
Is it cheaper to rent or buy in Lexington?
Median gross rent in Lexington is $1,071 a month, against $1,708 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Lexington?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lexington, Texas at today's rate takes a household income of roughly $73,000 a year. That covers the full $1,708 monthly cost, not just the mortgage payment.
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 Texas.
- 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.