Lexington · Investment Property
Buying Investment Property in Lexington, SC
Rentals, land, and multi-family, numbers first. We look at the rent, the costs, and the area before we look at the house.
Investment property in Lexington: entry price matters
For investment property in Lexington, 29073 usually offers the lower entry point. The middle half of homes sold there over the twelve months ending October 9, 2026 went for about $235,000 to $322,000, against about $284,000 to $510,000 in 29072, according to Consolidated MLS. Price per square foot ran about $141 in 29073 and $166 in 29072.
A lot of 29073's housing is new, which can mean lower early repair costs. It also means many homes sit in subdivisions with HOA rules.
How we work with Lexington investors
Taylored Realty Team's Terry and Yolanda Taylor have owned investment property themselves. Before an offer, we look at what similar homes nearby rent for, the costs of owning, and the HOA covenants, since some newer subdivisions limit or set rules for rentals. For 1031 exchanges, we work alongside your CPA or qualified intermediary.
What to check in Lexington
- HOA rental rules before you fall for a property.
- Taxes: property taxes change when a home is not your primary residence.
- Town limits and what they mean for taxes and services.
- Condition, even on newer homes, during due diligence.
Run the numbers with us
Frequently Asked Questions
Can I rent out a home in a newer Lexington subdivision?
Sometimes. Some HOAs limit or set rules for rentals, so we check the covenants before you make an offer.
Which Lexington ZIP is less expensive to buy in?
29073. Its median sold price was $270,160 over the twelve months ending October 9, 2026, compared with $376,082 in 29072, according to Consolidated MLS.
Lexington
What investment property looks like in Lexington
West of Columbia, with Lake Murray and downtown Lexington in 29072 and newer subdivisions in 29073.
Lexington has two residential ZIP codes that work like two different markets: 29072, with downtown Lexington and the Lake Murray corridor, and 29073, with the White Knoll and Red Bank areas. A Lexington mailing address does not always mean the home is inside the Town of Lexington.
- The homes
- In 29072: brick ranches, traditional two-story homes, craftsman designs, townhomes, custom homes, and lakefront property near Lake Murray. In 29073: one- and two-story suburban homes, townhomes, and a lot of new construction, with nearly half of last year's sales built in 2024 or later.
- Why people choose it
- People choose 29072 for Lake Murray, downtown Lexington, and custom or lakefront homes, and 29073 for newer floor plans, more room for the money, and quick access to I-20.
- Schools people ask about
- Much of Lexington is in Lexington County School District One, but assignment is set by address and district lines do not follow ZIP codes, so we confirm the school for each home.
- Getting around
- I-20 and US-378 connect Lexington to Columbia. In 29073, Platt Springs Road and South Lake Drive carry most daily traffic.
- Nearby
- Downtown Lexington and the Icehouse Amphitheater, Virginia Hylton Park, the Old Mill Pond Trail, Lake Murray, and Red Bank Arena.
- The trade-off
- 29072 costs more, especially near the lake, and waterfront homes bring added upkeep and insurance. 29073 costs less, but commutes vary by subdivision and the main roads get congested at rush hour.
Investment Property: keep exploring
Ready to make your move with Taylored Realty Team?