$6,800 Per Month
- 4 Beds
- 2.5 Baths
- 3,199 Sq Ft
- House for Rent
5 Philip Rd, Lexington, MA 02421
5 Philip Rd, Lexington, MA 02421
Frequently Asked Questions
How much does it cost to rent a home in Lexington, MA?
The median rent for a home in Lexington, MA is $5,140 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Lexington, MA?
To comfortably afford the median rent in Lexington, MA, a household needs to earn roughly $205,600 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $5,140 per month in Lexington, MA, renters typically need to show $15,420 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Lexington, MA?
In Lexington, MA, the price-to-rent ratio is 28.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Lexington, MA are best for renting a home?
The best neighborhood for renting in Lexington, MA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Munroe Hill, Follen Heights, North Lexington, Countryside and Cummingsville, each with its own character and price range.
