Rent in Lexington city, VA at a glance
2-bedroom rent (HUD)
$1,005$12,060 a year · HUD fiscal year 2026From October 1, 2026: $1,057 (+5.2%)How much rent can you afford in Lexington city, VA?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
Rent in Lexington city, VA by bedroom, and the pay it takes
Income needed keeps rent at 30% of gross pay; the hourly figure assumes one full-time job, 2,080 hours a year.
| Size | A month | A year | Income needed | Hourly wage needed |
|---|---|---|---|---|
| Studio | $870 | $10,440 | $34,800 | $16.73/hr |
| 1 bedroom | $917 | $11,004 | $36,680 | $17.63/hr |
| 2 bedroomsMost searched | $1,005 | $12,060 | $40,200 | $19.33/hr |
| 3 bedrooms | $1,398 | $16,776 | $55,920 | $26.88/hr |
| 4 bedrooms | $1,686 | $20,232 | $67,440 | $32.42/hr |
Cost of living in Lexington city, VA: income, prices and a budget →
Living and working in Lexington city, VA
Rent in Lexington city, VA: common questions
How much is rent going up in Lexington city, VA in 2027?
HUD's Fair Market Rent for fiscal 2027, which takes effect October 1, 2026, is $1,057 for a two-bedroom, up 5.2% from $1,005. A one-bedroom goes from $917 to $971, a studio from $870 to $896.
These are HUD's estimates of what a typical recently rented unit costs, used for housing vouchers. A landlord's increase on your lease follows your lease and your state's rules, not this figure.
What is the average rent in Lexington city, VA?
HUD's Fair Market Rent for 2026 is $917 for a one-bedroom and $1,005 for a two-bedroom, utilities included. That is $12,060 a year for the two-bedroom.
It is not an average of current listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so asking rents on newer places usually run higher.
How much do you need to make to afford rent in Lexington city, VA?
To keep a $1,005 two-bedroom at 30% of gross pay, one full-time worker needs $19.33 an hour, or $40,200 a year. A one-bedroom at $917 takes $17.63 an hour.
How much is a 1, 2 or 3-bedroom apartment in Lexington city, VA?
At HUD's 2026 Fair Market Rent: studio $870, one bedroom $917, two $1,005, three $1,398 and four $1,686 a month.
Is rent affordable in Lexington city, VA?
For the typical household, earning $84,517 a year ($7,043 a month, Census ACS), a two-bedroom at $1,005 takes 14.3% of income. Under 30% is the usual line for affordable; this is under it.
How is the income needed for rent worked out?
Rent for a year divided by 0.30, the share of gross income HUD treats as affordable: ($1,005 × 12) ÷ 0.30 = $40,200. Divided by 2,080 working hours, that is $19.33 an hour.