Mortgage Rates in Lexington, Virginia — March 2026
Updated March 2026 | Based on Lexington market data and regional lending conditions
Lexington is a smaller Virginia community of 28,500 where home prices remain well below the national median, making homeownership more attainable. The current 30-year fixed rate here is 6.8% (0.15% above the national average). At a median home price of $175,000, the estimated $1,040/month payment (with 20% down) is affordable on the local median income of $75,000.
Current Mortgage Rates in Lexington, VA
Below are the current average mortgage rates available in the Lexington area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.8% | 6.65% | +0.15% |
| 15-Year Fixed | 6.03% | 5.89% | +0.14% |
| 5/1 ARM | 6.28% | 6.15% | +0.13% |
| FHA | 6.52% | 6.25% | +0.27% |
| VA | 6.27% | 6.05% | +0.22% |
| Jumbo | 7.05% | 6.85% | +0.2% |
Lexington Housing Market Overview
At $175,000, Lexington offers more affordable housing than most U.S. metros. The local cost of living index is 100 (100 = national average), and the median household income of $75,000 provides comfortable purchasing power in this market.
Monthly Payment Breakdown for Lexington
Based on the median home price of $175,000 with 20% down ($35,000), here is what you can expect to pay monthly in Lexington:
15-Year vs. 30-Year Mortgage in Lexington
Choosing a 15-year mortgage in Lexington at 6.03% instead of a 30-year at 6.8% would save you $115,560 in total interest over the life of the loan. However, your monthly payment would be $1,184 instead of $913 — an increase of $271 per month.
Calculate Your Lexington Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Lexington
What are the current mortgage rates in Lexington, VA?
As of March 2026, the average 30-year fixed mortgage rate in Lexington, Virginia is 6.8%, while the 15-year fixed rate is 6.03%. FHA loans average 6.52% and VA loans 6.27%. These rates are 0.15% above the national average of 6.65%.
How much is a monthly mortgage payment in Lexington?
Based on the median home price of $175,000 with 20% down, the estimated monthly mortgage payment in Lexington is $913 for principal and interest. Including property taxes of $127/month, the total monthly housing cost is approximately $1,040.
What income do I need to buy a home in Lexington?
Using the 28% rule, you would need an annual income of approximately $44,571 to afford the median-priced home in Lexington at $175,000. The median household income in Lexington is $75,000. The median income is currently sufficient to meet this threshold.
Is Lexington a good place to buy a home in 2026?
Lexington offers a below-average cost of living with a cost of living index of 100 (national average = 100). The property tax rate in Virginia is 0.87%, which is near the national average. Lexington has a population of 28,500 and offers a balanced lifestyle.
Mortgage Rates in Other Virginia Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Lexington, Virginia area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.