The story of this market
The typical home in ZIP 24450 sells for about $403,000, or $205 per square foot.
Prices are up +15% from a year ago, so sellers still have some momentum. Homes take about 80 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,130 a month.
ZIP 24450 — Lexington
The Lexington housing market is currently balanced, with a median sale price of $403,000 and moderate inventory levels. Demand remains steady, supported by the local academic and tourism sectors, though sales volume is limited. Price growth has been positive year-over-year, reflecting a stable but cautious market environment.
This ZIP is well-suited for families, academics, and retirees attracted to the historic character, educational institutions, and outdoor lifestyle of the Shenandoah Valley.
Median prices moved up 15.0% year over year.
Homes spend a median of 80 days on market with 6.8 months of supply — a balanced-paced market.
3% of listings have cut prices · homes sell at 97% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 10.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 24450, Rockbridge County VA
The area is served by the Lexington City Public Schools, which generally maintain a positive reputation within the region.
The region is subject to standard regional flood and wind risks; insurance posture is typical for the Shenandoah Valley.
Economic momentum is driven by the presence of higher education institutions and tourism, with steady demand for residential housing.
Property taxes are assessed at the local level by Rockbridge County and the City of Lexington; rates are determined by annual budget requirements and property valuations.
The area is primarily car-dependent, with access to I-64 and I-81 providing regional connectivity to employment hubs.
Residents have access to the Maury River, local parks, and historic downtown Lexington, with proximity to the Blue Ridge Mountains for outdoor activities.
The rental market is influenced by the student population and local workforce, with moderate vacancy pressure and rising rent trajectories.
The economy is anchored by higher education (VMI, W&L), tourism, and local government services.
The area is served by major highway corridors I-64 and I-81, facilitating regional transit.
Development is focused on infill and small-scale residential projects within the city limits.
The Rockbridge County and Lexington City assessors manage property valuations based on market assessments.
Parcels are subject to local school district taxes and municipal utility service fees.
Property insurance premiums are stable, reflecting the area's moderate risk profile.
Data retrieved from census.gov ZCTA profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
Features historic architecture, local boutiques, and restaurants.
Provides opportunities for fishing, kayaking, and scenic recreation.
Historic military college and major regional anchor.
Prestigious liberal arts university and cultural hub.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.