The Dunbar
301 Smith Ave,
Lexington, NC 27292
Studio - 2 Beds | $1,073 - $1,899
Rental Market Trends in Lexington, NC
Updated September 2026
The average rent in Lexington, NC is $1,121/month.
Rent in Lexington is 33% lower than the national average rent of $1,665/month, making this one of the less expensive cities statewide.
$1,121/month
Average Rent
717 Sq Ft
Average Size
+2%
Change / Year
146
Available Apartments
Lexington rent varies by unit size and layout:
- Studio apartments in Lexington average $1,074 per month.
- One-bedroom apartments in Lexington average $1,121 per month.
- Two-bedroom apartments in Lexington average $1,243 per month.
- Three-bedroom apartments in Lexington average $1,621 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Lexington, NC?
In the past year, rent has increased by 2%, which averages out to $23 more per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Lexington, NC
September 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
6%
Below $700/month
31%
$700 - $1,000/month
56%
$1,001 - $1,500/month
6%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Lexington?
Based on current rent prices, Davidson is the most affordable neighborhood in Lexington.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Lexington?
Based on current rent prices, Davidson is the most expensive neighborhood in Lexington.
Neighborhood
Average Rent
Average Sq Ft
Which Lexington neighborhoods have the most rentals available?
The neighborhood in Lexington with the most apartments available is Davidson .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Lexington, NC?
Because the average rent in Lexington is $1,121, you’ll want to make about $3,736 per month or $44,832 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Lexington, NC is 13.8% lower than the national average. Generally, housing in Lexington is 37.5% less expensive than the national average, with rent falling between $1,074 - $1,621. You can expect to pay 4.8% less for groceries, 1.7% less for utilities, and 21.8% less for transportation.
How does Lexington, NC compare to other nearby cities and neighborhoods?
Use the tool below to compare Lexington, NC to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Lexington Area GuideStudio
$1,074/month
$1,074/month
One Bedroom
$1,068/month
$1,068/month
Two Bedroom
$1,160/month
$1,160/month
Three Bedroom
$1,491/month
$1,491/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Lexington?
The average rent in Lexington is $1,121 per month, which is 32.7% lower than the national average of $1,665.
What is the average rent for a house in Lexington?
The average rent for a house in Lexington, NC is $1,834 per month.
What is the average rent for a townhome in Lexington?
The average rent for a townhome in Lexington, NC is $1,150 per month.
Are rents going up or down in Lexington?
Rents in Lexington, NC are increasing, with prices up 2.0% year-over-year and $23 more per month.
What rent range is most common in Lexington?
In Lexington, NC, 56% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.