How has Lexington changed in the past 10 years? To answer this question, LexObserver sorted through a decade of data, from 2012 to 2022, from the Census Bureau’s American Community Survey and visualized the data points in graphs and charts.
Part I of the story, published last week, looked at changes in demographics and diversity of the town’s population. Part II will dive deeper into the economics and housing market in Lexington.
Note: some graphs are interactive. Please feel free to explore them by hovering over data points or clicking on different elements for more detailed information.
Lexington is a wealthy town, with a median household income more than twice as high as state and federal levels. Lexington has grown increasingly wealthy over the past decade. After 2016, the median household income increased by around 7% a year, which is higher than the rate in Massachusetts and the country.
A closer look at the breakdown of households by income shows how affluent the town is, and how the disparity between rich and poor has grown. Over time, Lexington has fewer households with income at or less than $35,000, while the number with incomes of $200,000 or higher has increased by about 75%, the fastest-growing category among all. (The Census doesn’t specify family size, so changing age demographics and household composition could be a factor here).
Lexington is one of the most expensive housing markets in Massachusetts. In the past decade, the number of houses worth more than $1 million tripled, while the number of those worth less than $1 million shrank significantly. The highest category included in the data is “$1 million or more,” so we don’t have a breakdown of pricier homes. It is noteworthy that home values are self-reported, according to the American Community Survey.
The housing shortage is a challenge Lexington has faced for years. The number of vacant units in 2022 is about half of what it was in 2012. In contrast, the number of occupied housing units has increased by 8% in the past decade.
Even so, Lexington has seen more houses built over the years. The increase is particularly significant after 2020.
(Note: The Census counts the number of built structures cumulatively, instead of specifying by year. LexObserver deducted the previous year’s data from the present year’s, which is why there are negative figures on the graph.)
Among over 11,000 occupied units, the ratio between rental and ownership remains stable. Over the years, renters have occupied about one out of every five housing units.
Renters have more options over the years. In 2012, more than half of the renters paid over $1,500 a month. In 2015, that number dropped significantly and slowly increased thereafter. More affordable rentals appeared in 2022.
The Census defines “gross rent” as “the contract rent plus the estimated average monthly cost of utilities,” and “No rent paid” as renter units occupied without payment of rent. The data did not specify apartment sizes.
More Lexington residents care about greenhouse gas emissions and clean energy, and the changes in housing heating fuel types reflect that. From 2012 to 2022, the number of houses that used fuel oil as a main heating source has decreased 20%. In comparison, the usage of electricity has increased by 25%, and 30% for utility gas.
The growth in propane — a cleaner burning alternative fuel, according to the Department of Energy — is substantial. In 2012, only 169 houses used propane as a major heating source; the number has tripled to 520 in 2022.
Although the size is relatively small, the use of solar energy has become more prevalent, particularly after the pandemic.
It’s worth noticing that the survey question appears as “Which fuel is used MOST for heating this house, apartment, or mobile home?” Therefore it does not include houses that use a mix of fuels.
(Note: You can enter the fuel types in the box to see or compare data points in more detail.)
The majority of households in Lexington have vehicles. About half of the occupied units have two, and one-third have one. This ratio has remained the same in the past decade.
Very interesting and understandable graphic!!!
My takeaway? Commensurate with wealth generally comes disinterest in old charm, street appeal, and valuing neighborhood and connection to others. I see this in the lack of screened porches being built. Makes me sad.
The census also tracks “per capita income” which gives you the average amount of income divided by the population. This is a great way to see the wealth of Lexington as it has changed over the years.
Interesting to see that propane is “a cleaner burning alternative fuel”.