Home Insurance in Lexington, Virginia
Homes in Lexington carry a median value of $275,200 - close to the Lexington city median.
The typical home in Lexington was built around 1959. About 52% of homes were built before 1960, in line with Lexington city (52%). Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Lexington, 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.
50% of owner-occupied homes in Lexington carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 22%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 54% of occupied homes in Lexington are owner-occupied.
In Lexington, 57% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Lexington? FEMA's National Risk Index points to hurricane (Very Low) in Lexington city and Lexington city had 10 active NFIP flood policies as of September 2026. See the full Lexington city home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Virginia is $1,537 per year, according to the NAIC homeowners insurance report (2023 data).
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 county hazard | Hurricane (Very Low) |
| Active NFIP policies in Lexington city | 10 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- 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)