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Homes for Sale in Lexington, Texas: A Complete Guide for Buyers in 2024

If you’re considering a move to Lexington, Texas, you’ve likely discovered that this small town offers a peaceful, rural lifestyle with close-knit community vibes. With a population of just over 1,200, Lexington provides the charm of small-town living while being within a reasonable distance from larger cities like Austin and College Station. Whether you’re a first-time homebuyer, looking for a place to retire, or seeking a fresh start with more open space, Lexington has a wide range of housing options to suit various needs and budgets.

1. Lexington, Texas: A Brief Overview

Before diving into the housing market specifics, it’s essential to understand the appeal of Lexington, Texas. Located in Lee County, this town is known for its agricultural roots, quiet lifestyle, and proximity to outdoor recreation areas like Lake Somerville and Nails Creek State Park. It’s also famously home to Snow’s BBQ, a nationally acclaimed barbecue spot.

Living in Lexington offers the benefits of wide-open spaces, minimal traffic, and a slower pace of life—qualities that are increasingly appealing to those looking to escape the hustle and bustle of larger cities. With a friendly community atmosphere and an easy drive to Austin (just over an hour away), Lexington has become a popular choice for families, retirees, and individuals who are able to work remotely.

2. The Lexington Housing Market in 2024

As of 2024, the Lexington real estate market remains relatively affordable compared to larger cities in Texas like Austin or Houston. While the town is growing, housing prices have stayed within a range that makes homeownership accessible to a variety of buyers, including young families and retirees.

The market here is characterized by single-family homes, many of which come with spacious lots—sometimes even acreage. With the steady influx of interest from people looking to escape city life, Lexington’s housing market has seen modest increases in property values over the past few years. However, it remains a competitive and desirable market for those who are looking to buy a home without breaking the bank.

Key Housing Market Stats for Lexington:

Median home price: Around $250,000 (as of early 2024)
Average days on the market: 45 days, indicating a relatively quick-moving market
Property size: Homes typically range from half-acre lots to several-acre properties, depending on the location

3. Types of Homes for Sale in Lexington

When searching for homes for sale in Lexington, TX, you’ll find a range of housing styles, from modern ranch homes to more traditional Texas farmhouses. The variety of home types available caters to different preferences, whether you’re looking for a cozy starter home or a sprawling property with space for horses or farming.

Popular Home Types in Lexington:

Ranch-style homes: A staple in rural Texas, these homes typically offer single-story layouts with open floor plans, perfect for family living.
Custom-built homes: Many newer properties in Lexington are custom-built, offering buyers the chance to enjoy modern amenities while still living in a quiet, rural setting.
Farmhouses: For those looking for a more traditional country home, you’ll find plenty of farmhouses with large porches, rustic touches, and acreage suitable for farming or ranching.
Manufactured homes: Lexington also offers affordable options like manufactured homes, which provide a budget-friendly path to homeownership without sacrificing comfort.

4. Best Neighborhoods in Lexington

Lexington may be a small town, but it still has several distinct areas that are worth exploring if you’re looking to buy a home. Depending on what you prioritize—whether it’s being close to schools, having more acreage, or enjoying proximity to local amenities—there’s likely a neighborhood that fits your needs.

Central Lexington

Located close to the town’s main streets, central Lexington is perfect for those who want easy access to local shops, restaurants, and schools. Homes in this area tend to be smaller and more affordable, making it a great option for first-time homebuyers or families who want to be close to the community hub.

The Outskirts and Acreage Properties

If you prefer a more rural setting, consider looking at homes on the outskirts of Lexington, where properties often come with multiple acres. These homes are ideal for buyers looking for privacy, space to farm, or a quiet retreat from the busier town center.

Newer Subdivisions

In recent years, new housing developments have popped up around the edges of town, offering more modern homes with updated features. These subdivisions are excellent for those who want newer construction and may be seeking a bit more of a suburban feel while still being in a rural town.

5. Rural vs. Suburban Living in Lexington

One of the main draws of living in Lexington is the opportunity to enjoy rural living, but it’s important to understand the differences between true rural homes and more suburban-style living. Lexington offers both options, and which one is right for you depends on your lifestyle and priorities.

Rural Living:

Larger plots of land, often with acreage.
Opportunities for farming, ranching, or simply enjoying space to roam.
More privacy and distance between neighbors.
Ideal for those who value solitude and want to get away from it all.

Suburban Living:

Smaller lots, often located closer to town amenities.
Newer homes with modern finishes.
Easier access to schools, grocery stores, and dining options.
Great for families who want more of a community feel while still enjoying rural surroundings.

6. Lexington’s Housing Prices: What to Expect

While the median home price in Lexington is generally lower than that of nearby cities, prices can vary widely depending on the type of property and its location. For example, homes closer to the center of town or in newer developments may cost a bit more, while properties with acreage farther from town often provide more bang for your buck.

As of early 2024, the median home price in Lexington sits around $250,000, but homes with significant acreage can go for significantly more, depending on the land’s use and features.

Small single-family homes: $180,000 – $250,000
Newer custom homes: $300,000 – $450,000
Properties with acreage: $300,000 and up, with some multi-acre properties reaching over $600,000

7. Financing Your Home in Lexington

Buying a home is one of the biggest financial decisions you’ll make, and getting the right financing is key. Lexington offers a wide variety of options for financing your home purchase, including traditional mortgages, FHA loans, and USDA rural loans, which are specifically designed to help buyers purchase homes in rural areas.

For those who qualify, USDA loans are an attractive option as they offer low-interest rates and require little to no down payment, making them perfect for buyers who are moving to rural areas like Lexington.

Steps to Finance Your Home in Lexington:

Get pre-approved: Before you start house hunting, it’s essential to get pre-approved for a mortgage. This gives you a clear understanding of how much home you can afford.
Explore loan options: Depending on your financial situation, you may qualify for special loan programs, including FHA loans for first-time buyers or VA loans for veterans.
Work with a local lender: A local lender familiar with Lexington’s housing market can often provide more personalized service and guidance through the home-buying process.

8. Working with Local Realtors

To navigate Lexington’s housing market efficiently, it’s a smart move to work with a local real estate agent. Realtors who specialize in the Lexington area are familiar with the nuances of the town’s housing trends, neighborhoods, and pricing. They can also offer insights into upcoming property listings that haven’t yet hit the market.

When choosing a realtor, look for someone with:

Local expertise: An agent who knows the ins and outs of Lexington.
Experience: Look for a realtor with years of experience in rural real estate.
Connections: A well-connected realtor may have access to off-market properties.

9. What to Consider When Buying a Home in Lexington

When purchasing a home in Lexington, it’s important to think about both your current needs and your future plans. Are you looking for a family-friendly environment with good schools? Do you need space for livestock or farming? Would you prefer a home that’s closer to town amenities, or are you looking for total seclusion?

Other factors to consider include:

Utilities: Some homes, particularly those in more rural areas, may rely on well water and septic systems.
Internet access: Rural areas can sometimes have slower internet speeds, which is important to keep in mind if you work remotely.
Resale value: While Lexington’s housing market is growing, consider how easy it will be to sell your home in the future if your needs change.

10. Lexington’s Future Development Plans

Lexington is experiencing steady growth, and while it remains a rural town, future development plans could bring more amenities and housing options. This could impact both the value of your home and the town’s overall vibe.

Many residents appreciate the balance of small-town living with convenient access to larger cities, and future developments are expected to focus on maintaining this balance. New subdivisions and businesses are gradually making their way into town, offering more choices for both current residents and newcomers.

11. Conclusion: Why Lexington, Texas Could Be Your New Home

Whether you’re looking for a slower-paced lifestyle or you’re simply in search of a home where your dollar stretches further, Lexington, Texas, has a lot to offer. From affordable housing options and rural charm to proximity to larger urban centers, Lexington is an ideal place to settle down, raise a family, or even retire.

With a mix of affordable housing, large-acre properties, and a strong sense of community, Lexington is truly a hidden gem in Central Texas. So if you’re ready to experience the warmth, charm, and space that only a small town can offer, Lexington may just be the perfect place to call home.

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