Lexington city, Virginia: commercial real estate data.
Lexington city, Virginia had an estimated 7,802 residents on July 1, 2024, up 6.7 percent since the 2020 census base of 7,311, across 2 square miles. 253 establishments operate here, and the SBA record carries 3 7(a) approvals worth $599,000 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Lexington city
How many people live in Lexington city
- Population, American Community Survey 2020-20247,525
- Households2,187
- Average household size3.44
- Median household income$84,517
- Median age22.6
- Median gross rent$1,081 per month
- Median owner-occupied home value$275,200
- Home value to household income3.3 times
- Annual rent as a share of median income15.3 percent
- Adults 25 and over with a bachelor degree or higher50.7 percent
- Adults 25 and over with a graduate degree30.1 percent
- Adults 25 and over3,367
- Population under 18548
- Share under 187.3 percent
- Population 65 and over1,273
- Share 65 and over16.9 percent
- Working age population, 18 to 645,704
- Civilian labor force2,979
- Unemployment rate0.6 percent
- Labor force participation, adults 18 and over42.7 percent
- Rank by population among Virginia independent cities120th of 133
- Rank by population among US county-equivalents, Puerto Rico included2687th of 3,222
Lexington city is the 120th largest of 133 Virginia independent cities by population. A median home costs 3.3 times median household income, which is moderately unaffordable by national standards. Residents 65 and over outnumber those under 18, at 16.9 percent against 7.3 percent, which points demand at health care, services and single story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lexington city
Is Lexington city's population growing?
- Population, July 1, 20247,802
- Census 2020 base population7,311
- Population change since the 2020 census base6.72 percent
- Population change, 2023 to 2024246
- Births, 2024115
- Deaths, 202442
- Natural change, 202473
- Net domestic migration, 2024131
- Net international migration, 202443
- Total net migration, 2024174
- Cumulative net domestic migration, 2021 to 2024146
- Rank by growth among US county-equivalents327th of 3,144
The county has grown 6.72 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lexington city
Where are people moving to Lexington city from?
- Tax returns filed by households arriving267
- People arriving, from those returns448
- Tax returns filed by households leaving298
- Net household movement-31
- Adjusted gross income arriving$22.5 m
- Net adjusted gross income movement$3.0 m
- Average income of an arriving household$84,157
- Average income of a leaving household$65,289
- Largest single originRockbridge County (67 households)
- Largest single destinationRockbridge County (87 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Rockbridge County | 67 | 131 | $4.4 m |
Households arriving report $18,868 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Rockbridge County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Lexington city
Employment by industry in Lexington city
- Covered employment, annual average5,378
- Establishments reporting310
- Average annual pay$50,009
- Average weekly wage$962
- Other services, except public administration, employment158
- Other services, except public administration, average annual pay$57,621
- Finance and insurance, employment118
- Finance and insurance, average annual pay$78,570
- Information, employment32
- Information, average annual pay$27,144
- Real estate and rental and leasing, employment26
- Real estate and rental and leasing, average annual pay$58,090
- Unclassified establishments, employment13
- Construction, employment12
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Other services, except public administration | 158 | 32 | $57,621 |
| Finance and insurance | 118 | 20 | $78,570 |
| Information | 32 | 4 | $27,144 |
| Real estate and rental and leasing | 26 | 11 | $58,090 |
| Unclassified establishments | 13 | 5 | $51,853 |
| Construction | 12 | 6 | $84,583 |
| Manufacturing | 10 | 4 | $32,161 |
Other services, except public administration is the largest private sector at 158 jobs, 2.9 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lexington city
How many businesses are in Lexington city?
- Establishments, all industries253
- Employment at those establishments4,728
- Annual payroll$197.7 m
- Establishments per 1,000 residents33.6
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Lexington city
Building permits in Lexington city
- Housing units authorized by permit, 20241
- Declared construction value permitted$437,670
- Single family units authorized1
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$437,670
- Units authorized per 1,000 households0.5
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Lexington city
SBA loans in Lexington city (7(a) and 504)
- 7(a) approvals recorded3
- 7(a) gross approval dollars$599,000
- Average 7(a) approval$199,667
- Median 7(a) approval$189,000
- Largest single approval$350,000
- Jobs reported supported, 7(a)8
- Jobs per approval2.7
- Distinct 7(a) lenders active3
- Distinct industries receiving approvals3
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer0.0 percent
- Loans on real estate terms0
- Loans on working capital terms, 120 months or shorter3
- Franchise loans0
- Franchise share of approvals0.0 percent
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lexington city
SBA loan default and charge-off rates in Lexington city
Do SBA loans in Lexington city get paid back?
- Loans with a final outcome recorded1
- Paid in full1
- Charged off0
- Status: Cancelled1
- Status: Paid in full1
- Status: Exempt from disclosure1
Only 1 loan has reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lexington city
How large is Lexington city?
- Land area2 sq mi
- Rank by land area among Virginia independent cities133rd of 133
- Width, east to west2.5 mi
- Height, north to south1.7 mi
- Geographies sharing a boundary1
- Residents per square mile of land3,763
- Establishments per square mile126.50
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Lexington city
Flood risk in Lexington city
- Participation of the county's own NFIP community Lexington, city ofParticipating, community 510089
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Lexington city, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, the City of Lexington (community 510089), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Lexington city in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Lexington city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Lexington city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-20247,525
- Households2,187
- Average household size3.44
- Median household income$84,517
- Median age22.6
Common questions
Lexington city questions, answered from the record.
How many people live in Lexington city, Virginia?
The Census Bureau estimates 7,802 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 7,525, in 2,187 households, ranking 120th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Lexington city's population growing?
The population has grown 6.72 percent since the 2020 census base of 7,311, to 7,802 on July 1, 2024. In 2024 there were 115 births against 42 deaths, with net migration of 174. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Lexington city?
$84,517. The median owner-occupied home is valued at $275,200, which is 3.3 times income, and median gross rent is $1,081 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Lexington city?
253 establishments, employing 4,728 people with an annual payroll of $197.7 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Lexington city?
Other services, except public administration is the largest private sector at 158 jobs, 2.9 percent of covered employment. Covered employment averages 5,378 jobs at an average annual pay of $50,009, or $962 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Lexington city?
3 7(a) approvals totaling $599,000 since FY2020, across 3 lenders, with a median approval of $189,000. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Lexington city?
1 housing units were authorized by permit in 2024, with a declared construction value of $437,670. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Lexington city?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Lexington city come from?
The largest single origin is Rockbridge County, with 67 households. Arriving households report an average income of $84,157 against $65,289 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Lexington city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Lexington city?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
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