Cost Of Living
Taking into account the cost of goods and services like housing, groceries, transportation and utilities, the overall cost of living in this area is well below average.
Housing
High scores in the housing category are a distinguishing feature of this area, possibly driven by a favorable home affordability ratio, higher home values and appreciation rates.
Amenities
The majority of amenities are not ideally located within walking distance. To access these amenities, residents may be required to rely on a vehicle or public transit.
Commute
A low commute score could be due to longer-than-average work commutes and the limited availability of public transportation in this area.
Employment
In the employment category, a low score could be attributed to low income levels and high unemployment in the area, suggesting potential difficulties in finding lucrative employment.
Located in the state of Ohio, New Lexington is a smaller city with a population of 4,835 inhabitants. According to the most recent Census, 99% of New Lexington residents are White, 0% Black and 0% Asian. New Lexington is very likely to be a great place to live for singles as only 48%, of the population (over fifteen) are classified as married. If you prefer shorter commutes, living in New Lexington will be a delight. With an average one-way commute time of just 21 minutes, traveling to and from work is notably more convenient than the national average, which stands at 26 minutes.
Whether you’re relocating to a new town to be closer to family, friends or for a new job, living in New Lexington could be a positive experience compared to other cities in Ohio if you know where to search. Don't forget to determine what matters most to you in a neighborhood. Consider factors such as safety, proximity to work or school, access to amenities (like parks, fitness facilities, grocery stores, restaurants), public transportation options, community atmosphere and the overall vibe you're looking for. Using the livability score which includes data from categories like cost of living, health & safety, education, you can easily compare the best places to live in New Lexington and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare New Lexington to Ohio and the national average.
With a livability score of 65/100, New Lexington is ranked #11,627 in the United States and #667 in Ohio. If we dig down a little deeper into each category within the livability score, we see that New Lexington has higher than average rankings for the following: housing (A+). There are some categories that New Lexington scores poorly for, including: amenities (F) and employment (D). It might be worth taking a closer look to determine why.
Striving for a cost-effective lifestyle becomes increasingly essential, especially in light of the ongoing upward trajectory of everyday goods and services. In New Lexington, residents enjoy the privilege of a cost of living that is 20.06% below the national average. This favorable positioning extends its influence across a broad spectrum of expenses, encompassing not only goods and services but also housing costs, groceries and healthcare costs. Consequently, this locale emerges as a hub where your financial resources go further, allowing you to maintain an economical and sustainable way of life. This affordability becomes increasingly significant in an era marked by escalating expenses, rendering New Lexington an appealing destination for those in pursuit of financial prudence without sacrificing their quality of life.
Unemployment rates can vary significantly among cities, impacting job prospects, wage levels and the overall economic health of an area. In New Lexington, the unemployment rate stands at 0.3%, suggesting increased job opportunities and a heightened demand for workers. This scenario can lead to higher wages, as the demand for employees outpaces job availability. Importantly, a low unemployment rate often signifies a robust and flourishing local economy.
A robust real estate market serves as a crucial economic indicator, reflecting the local area's strength, stability and the confidence of its residents. New Lexington excels in the housing sector, scoring high marks based on factors such as median home and rental prices, appreciation rates and home affordability. These calculations suggest that the apartment rental and real estate market in the region is exceptionally healthy, highlighting the area's economic vitality and attractiveness to potential homebuyers and renters.
New Lexington real estate prices and overall affordability will play a huge role in determining if the area is the right fit for you. Of course there are probably some other items on your “wish list”, but even before they are considered, let’s take a look at the home prices and affordability in New Lexington. Median real estate prices in New Lexington come in at $159,462, which is 32.1% lower than the Ohio average. The home price to income ratio compares the median home prices to the median household income. In New Lexington, the home price to income ratio is 2.9, which is 6.5% lower than the Ohio average.
| Statistic | New Lexington | Ohio | National |
| Average one way commute | 21min | 23min | 26min |
| Workers who drive to work | 80.5% | 83.4% | 76.4% |
| Workers who carpool | 14.1% | 7.8% | 9.3% |
| Workers who take public transit | 0.0% | 1.7% | 5.1% |
| Workers who bicycle | 0.0% | 0.3% | 0.6% |
| Workers who walk | 1.0% | 2.3% | 2.8% |
| Working from home | 0.0% | 3.7% | 4.6% |
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