Mortgage Calculator & Closing Costs: Lexington, NE
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Lexington, Nebraska.
Median Home Price
$165K
Population
10K
Avg Monthly Rent
$750
Property Tax Rate
1.73% *
* Property tax shown is the Nebraska state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Lexington.
Lexington vs Nebraska Median
The median home price in Lexington is $165,000, which is 33% below the Nebraska state median of $245,000.
Mortgage Calculator — Lexington, NE
Pre-filled with Lexington median home price and Nebraska tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $165K home using Nebraska's 1.73% tax rate and $2,800/yr insurance.
5% Down
$1,553/mo
Down: $8,250
Loan: $157K
P&I: $991
Tax: $238
Insurance: $233
PMI: $91
10% Down
$1,496/mo
Down: $16,500
Loan: $149K
P&I: $939
Tax: $238
Insurance: $233
PMI: $87
20% Down (No PMI)
$1,306/mo
Down: $33,000
Loan: $132K
P&I: $834
Tax: $238
Insurance: $233
Income needed (28% rule): $56K/year with 20% down, $64K/year with 10% down.
Rent vs Buy in Lexington
Rent
$750/mo
vs
Buy (10% down)
$1,496/mo
Price-to-rent ratio: 18.3 — A ratio between 15-20 means the rent vs buy decision in Lexington depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Lexington is $165,000, 33% below the Nebraska state median of $245,000. With a population of 10,069, Lexington is a smaller market where home prices tend to be more accessible than in many parts of Nebraska.
Property taxes in Nebraska average 1.73% annually. This higher-than-average tax rate means a $165,000 home in Lexington would carry roughly $238/month in property taxes alone — plan accordingly. Homeowners insurance in Nebraska runs approximately $2,800 per year. This is within the normal range nationally.
Average rent in Lexington is $750/month. The price-to-rent ratio in Lexington is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Lexington offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Nebraska's NIFA Homebuyer Assistance program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Lexington.