Rent to own Homes in Lexington, NC
Lexington, located in North Carolina's Piedmont Triad, calls itself the Barbecue Capital of the World. The many barbecue places in the town, and the fact that the city is home to a barbecue festival that lands on many not-to-miss travel lists, support this claim. Lexington's 19,000 residents enjoy a relatively mild climate and plenty of recreational opportunities. The city is also the hometown of artist Bob Timberlake, who has a studio in Lexington near Childress Vineyards.
Lexington, NC is a great place for affordable rent-to-own homes! With a median household income of over $30,366 and a median rent of $710, the Lexington, NC rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Lexington, NC. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Lexington, NC Property Resources
Rent to own Homes in Cities Near Lexington, NC
- Advance
- Archdale
- Belews Creek
- Bermuda Run
- Bethania
- Clemmons
- Colfax
- Cooleemee
- Denton
- East Spencer
- Faith
- Farmington
- Gold Hill
- Granite Quarry
- Greensboro
- High Point
- Hillsdale
- Jamestown
- Kernersville
- Lewisville
- Lexington
- Linwood
- Midway
- Mocksville
- Pfafftown
- Rockwell
- Rural Hall
- Salisbury
- Sophia
- Southmont
- Spencer
- Thomasville
- Tobaccoville
- Trinity
- Tyro
- Walkertown
- Wallburg
- Welcome
- Winston-Salem
- Woodleaf
- Yadkin College
Neighborhoods in Lexington, NC
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27293 rent to own homesBuying a Home in Lexington, NC
Lexington, NC is seeing rapid growth and Lexington, NC's' housing market remains optimal with an average home price that is -52% below the 2024 national average. Lexington, NC is part of Davidson county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Davidson is 0.67% which is below the national average, which is 0.99%.
Median Home Price in Lexington, NC
Median Rent in Lexington, NC
Top 5 Reasons to Live in Lexington, NC
Historic homes abound! Finding a historic home for rent in Lexington is easier than in other areas of the country. The median home age is 48, 11 years older than the national average. Homes also tend to be less expensive. The median home price is just $82,000, compared to the national average of $170,100. The Park Place historic district in downtown Lexington is a good place to start a home search, as are the Uptown and Erlanger Mill Village historic districts.
Robust rental market! More homes are rented rather than owned in Lexington, with more than 48 percent of homes rented, compared to the national average of just over 30 percent. Some communities have a large number of rent to own houses, such as the downtown area and the Meadowview and Erlanger communities.
World-famous barbecue! Not many places have a food named after them, especially not a place as small as Lexington. The town is known for a particular type of barbecue, which is a subset of North Carolina barbecue. Barbecue joints are found throughout the town and include The Barbecue Center, which opened in 1955, and Lexington Barbecue, known locally as The Honey Monk or Lexington #1.
Pigs take over the city! Every year the city is overrun by pigs when artistic pig sculptures are placed in public places throughout the downtown business area. Known as Pigs in the City, the city-sponsored initiative features new pigs by local artists each year. The pigs are sometimes still on display for the one-day Lexington Barbecue Festival each fall.
Recreation on the lake! High Rock Lake is a popular spot for many residents, whether they want to fish for crappie, sunfish or catfish. The lake has hosted the Bassmaster Classic several times and is a favorite spot for catching large mouth bass due to its shallow depth. The lake is also ideal for boating, and several campgrounds line its shores.