Lexington, VA is a small city located in the Shenandoah Valley region of Virginia. It is known for its beautiful landscape and vibrant community. The town has many attractions that make it an attractive option for those looking to relocate. It is currently home to a variety of businesses and organizations, such as Washington and Lee University, Rockbridge Regional Library System, Virginia Military Institute, Rockbridge Area Health Center, Lexington Historic District Commission, and Station 2 Sports Bar & Grill. In comparison to the US average rent prices of $1,430 for two-bedroom apartments, rent in Lexington is much more affordable at $960 per month. Additionally, grocery costs are comparable to the US with an index of 100. With its vibrant community and affordability, Lexington offers many opportunities for local businesses to thrive.
Lexington has an unemployment rate of 6.5%. The US average is 6.0%.
Lexington has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 27.2%, which is lower than the US average of 33.5%.
Tax Rates for Lexington
- The Sales Tax Rate for Lexington is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Lexington is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lexington
- The average income of a Lexington resident is $15,627 a year. The US average is $28,555 a year.
- The Median household income of a Lexington resident is $66,114 a year. The US average is $69,021 a year.