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Lexington

Lexington

$398,090 Average Value
$199 Average Price per Sq Ft
9 Homes For Sale

Lexington is a college town with history and natural beauty

Lexington is a small Shenandoah Valley city known for its two universities, a historic downtown and views of the Blue Ridge Mountains. “I feel very fortunate to have lived here my whole life,” says Mary Beth Harris, a Realtor with James River Realty. “As a child, I wanted to get away from Lexington because it was too small and I wanted a big city, but as I’ve gotten older, I love the quaintness of it, the sense of community and the kindness of everybody.” The Virginia Military Institute and Washington and Lee University anchor the community, and the area is also known for its Civil War history. Nearby parks and national forests provide hiking opportunities, and Interstate 81 makes it easy to get to other valley cities like Staunton and Roanoke.

A mix of historic homes and newer builds

Lexington is surrounded by farmland, but the city itself has narrow streets lined with turn-of-the-century homes with landscaped yards. Common styles here include Colonial Revival, Craftsman and American Foursquare, and there are also some midcentury ranch-style and Cape Cods. On the city’s outskirts, late-1900s colonial and ranch-style homes on spacious lots become more common, and there are also subdivisions with Craftsman-inspired new traditional homes from the 2000s. Buyers can find multi-acre retreats with custom-built homes, cabins and historic farmhouses outside the city. The median home sale price is around $400,000, lower than the national median of roughly $420,000. “We don’t have enough inventory for the number of people who want to live here, but we are seeing a shift in pricing where things are becoming more affordable,” Harris says. Condos are available on the outskirts, and undeveloped properties range from small lots in subdivisions to 50 acres with mountain views. Rental apartments are near the universities and Interstate 64.

Universities are top employers

Washington and Lee University and Virginia Military Institute are two of the city’s largest employers. Both campuses are in the city’s north. Washington and Lee is a private university that enrolls around 2,300 undergraduates in 40 majors; the law school here enrolls around 400 students. Founded in 1749, the university is one of the oldest higher education institutions in the country, and many of its buildings are National Historic Landmarks. VMI is a public university that enrolls around 1,600 students in 14 majors, and students here — called cadets — are required to join the ROTC program for one of five military branches.

Historic downtown is a walkable area of shops and restaurants

Downtown Lexington is on the National Register of Historic Places and features colonial storefronts, centuries-old churches and brick sidewalks. This walkable area has several blocks of locally owned shops, art galleries and restaurants. Harris recommends Golden Garden. “It's honestly the best Asian food I've ever eaten in my life,” she says. Haywood’s Piano Bar and Grill serves upscale American cuisine at The Georges, a hotel spread across five historic buildings. For dessert, Sweet Things Ice Cream Shoppe has been a staple for 30 years. Breweries like Devil’s Backbone and wineries like Ecco Adesso Vineyards are nearby. Grocery stores like Kroger and Food Lion are on the city’s south side, and national retailers like Walmart and Lowe’s Home Improvement are near Interstate 64.

Kids attend schools in Lexington or Rockbridge County

Kids who live within the city limits attend Harrington Waddell Elementary and then go to Lylburn Downing Middle; both earn an A from Niche. Kids living in Rockbridge County go to Central Elementary and then Maury River Middle; both earn a C-plus. High schoolers across the area go to the B-rated Rockbridge County High, where they can take electives like journalism for hands-on experience publishing a student newspaper.

River parks, trails and forests offer outdoor recreation

There are several parks throughout the area offering playgrounds, green space and sports fields. Jordan’s Point Park is on an island in the Maury River; the park used to be an industrial hub and is now known for its historical markers, canoe access and river swimming. The 7-mile Chessie Nature Trail is a popular spot for hiking and biking. Built over a former railroad, the trail follows the Maury River to Buena Vista. Boxerwood Nature Center and Woodland Garden has a variety of native and rare plants, as well as a natural playground for kids. The Lexington Golf and Country Club is a public course with memberships that grant access to the club’s swimming pool and tennis programs. Nearby, the George Washington and Jefferson National Forests offer hikes on mountainous trails, and Shenandoah National Park is 47 miles away.

Mostly car-dependent, but buses and sidewalks give more options

U.S. Routes 60 and 11 are the main roads through downtown. Route 60 leads 7 miles to Buena Vista, and Route 11 follows Interstate 81, which leads 37 miles to Staunton and 53 miles to Roanoke. Interstate 64 leads to West Virginia. Radar Transit’s Maury Express bus has routes throughout the area. Lexington Presbyterian Church, a Greek Revival church built in 1845, is one of several houses of worship in the area. Carilion Rockbridge Community Hospital is near downtown, and Roanoke-Blacksburg Regional Airport is a 52-mile trip.

Venues for concerts, equestrian events and movies

The Lime Kiln Theater hosts an outdoor summer concert series that regularly sells out. “It used to be a limestone kiln, but in my lifetime, it's just been this amazing theater. It’s such a special part of the community,” Harris says. “It’s a lot of local bands, but in the past few years, they’ve had some bigger acts.” The Virginia Horse Center is another popular event space in the area. The center puts on regular equestrian shows and the annual Rockbridge Regional Fair & Expo, a three-day fair with carnival rides and livestock competitions. Hull’s Drive-In has operated here since the 1950s, showing the latest movie releases in a retro drive-in setting; the theater also hosts a concert series from May to October.

Annie Franklin
Written By
Annie Franklin

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Schools

Source:
GreatSchools: The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process. View GreatSchools Rating Methodology

Lexington Housing Trends

Housing Trends

Median List Price
$422,240
Median Sale Price
$420,990
Median Single Family Sale Price
$420,990
Median Townhouse Sale Price
$345,940
Median Change From 1st List Price
0%
Last 12 months Home Sales
139
Median Home Sale Price YoY Change
56%
Average Price Per Sq Ft
$199

Neighborhood Facts

Number of Homes in Neighborhood
4,759
Number of Homes for Sale
9
Median Year Built
1968
Months of Supply
0.80
Average Single Family Home Size Sq Ft
1,955
On par with the national average
1,924
Average Townhouse Size Sq Ft
1,485
Average 2 Bedroom Size Sq Ft
1,052
Average 1 Bedroom Size Sq Ft
586
Median Lot Size Sq Ft
16,117

Open Houses

  • 7 Pathfinder Dr, Lexington, VA 24450

    $8,000

    • 7 Pathfinder Dr

    Building lot, .359 acres in Rivermont Heights Subdivision. Winter views of the Blue Ridge Mountains. Water available. Shared maintenance of gravel driveway for Blk 5, lots 3-7. Listed below tax assessment! Additional lots available: Blk 4 Lots 2-3-4; Blk 4 Lots 7-8-9; Blk 5 Lot 3-4-5.

    Agent Photo
    Lori Parker
    James Wm. Moore Real Estate Co.
    (540) 733-7421
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  • Lots 3-4-5 Pathfinder Dr, Lexington, VA 24450

    $24,500

    • Lots 3-4-5 Pathfinder Dr

    Three building lots totaling .89 acre in the Rivermont Heights Subdivision in Rockbridge County. Easy access to Buena Vista, Lexington and I81. Water and sewer available. Gravel driveway in place with shared maintenance by Lots 3-7. Views of the Blue Ridge Mountains in winter. Priced below tax assessment. Additional lots available: Blk 4 Lots 2-3-4; Blk 4 Lots 7-8-9; Blk 5 Lot 7.

    Agent Photo
    Lori Parker
    James Wm. Moore Real Estate Co.
    (540) 530-4733
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  • Lots 7-8-9 Cresthill Dr, Lexington, VA 24450

    $37,000

    • Lots 7-8-9 Cresthill Dr

    Three building lots totaling 1.44 acres in the Rivermont Heights Subdivision in Rockbridge County near the Maury River. Winter views of the Maury River and mountains. Water and Sewer available. Easy access to Buena Vista, Lexington, and I81. Priced below tax assessment. Additional lots available: Blk 4 Lots 2-3-4; Blk 5 Lots 3-4-5, Blk 5 Lot 7.

    Agent Photo
    Lori Parker
    James Wm. Moore Real Estate Co.
    (540) 726-6838
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Homes for Sale

Homes for Rent

Distribution of Home Values

Source: Public Records

Average Home Value





Source: Public Records

Property Mix - Square Feet

Lexington Has More Owners

Demographics

Total Population
7,700
Median Age
27
Population under 18
22.1%
On par with the national average
23.8%
Population over 65
16.7%
On par with the national average
19.1%

Finances

Median Household Income
$70,464
On par with the national average
$71,702
Average Household Income
$76,273

Education and Workforce

High School Graduates
96.9%
College Graduates
60.1%
Significantly above the national average
34.1%
Advanced Degrees
28.4%
% Population in Labor Force
44.8%
Below the national average
65.1%

Weather

Annual Precipitation
43''
Average Winter Low Temperature
26°F
Average Summer High Temperature
86°F
Annual Snowfall
3''

Area Factors

Somewhat Bikeable

Bike Score®®

39 / 100

Somewhat Walkable

Walk Score®®

60 / 100
Source: Walk Score
Source: Walk Score

Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Lexington
David Stull
STERLING PROPERTIES & MANAGEMENT LLC
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