Home Insurance in Lexington city, Virginia
Homes in Lexington city carry a median value of $275,200 - 28% lower than the Virginia median.
The typical home in Lexington city was built around 1959. About 52% of homes were built before 1960, about 33 points above Virginia's 19%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In Lexington city, the housing stock is 58% single-family homes and 18% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Lexington city, about 50% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 54% of occupied homes in Lexington city are owner-occupied. The vacancy rate is 22%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Lexington city, 57% of homes are primarily heated with natural gas.
Per FEMA's National Risk Index, Lexington city's top hazards are hurricane (Very Low), earthquake (Very Low) and winter weather (Very Low). Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
As of September 2026, Lexington city has 10 active NFIP flood insurance policies. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Virginia carries a statewide average premium of $1,537 per year.
Key figures
| Median home value | $275,200 |
|---|---|
| Median year built | 1959 |
| Owner-occupied share | 54% |
| Share of owner-occupied homes with a mortgage | 50% |
| Top hazards (FEMA National Risk Index) | Hurricane (Very Low), Earthquake (Very Low), Winter Weather (Very Low) |
| Active NFIP flood policies (county) | 10 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)