Lexington Homes under $500,000

Lexington Homes under $500,000

Welcome to Lexington, Indiana—a charming city that perfectly blends small-town warmth with modern conveniences. Nestled in the heart of the Midwest, Lexington boasts a rich history, picturesque landscapes, and a strong sense of community. With its welcoming atmosphere and friendly residents, it’s no wonder that many are choosing to call this lovely city home.

One of the most appealing aspects of Lexington is its affordability. For those seeking a place to settle down without breaking the bank, the city offers a variety of homes priced under $500,000. Whether you’re a first-time homebuyer, a growing family, or looking to downsize, Lexington has something for everyone. From cozy bungalows to spacious family homes, the real estate market here is diverse and inviting.

The city is surrounded by beautiful parks, perfect for outdoor enthusiasts and families alike. Enjoy leisurely strolls, picnics, and recreational activities in the fresh air. Additionally, Lexington is conveniently located near major highways, making commuting to nearby cities a breeze.

Residents can take advantage of a vibrant local scene, complete with charming shops, delightful eateries, and community events that foster connections among neighbors. With a strong focus on education, Lexington also offers access to quality schools, ensuring that families have the resources they need for their children’s success.

In Lexington, you’ll find more than just a house; you’ll discover a place where you can create lasting memories and truly feel at home. Come explore the possibilities that await you in this delightful Indiana city!

Newest Lexington Homes under $500,000

8370 W SR 56, Lexington
$199,500
2 Beds ⋅ 1 Baths ⋅ 2026013331 MLS ⋅ ACTIVE Status
Move-in ready and completely remodeled, this charming 2-bedroom, 1-bathroom home offers 1,008 square feet of stylish, low-maintenance living. Step inside to find a fresh, modern interior featuring brand-new flooring, fresh paint throughout, new interior doors, and energy-efficient thermopane windows. Year-round comfort is guaranteed with a brand-new 2025 mini-split heating and cooling system, supplemented by electric baseboard heaters for reliable backup. Outside, enjoy the privacy and convenience of a fenced backyard, perfect for pets, entertaining, or relaxing outdoors. Car enthusiasts, hobbyists, and anyone needing serious storage will fall in love with the spacious 24x30 insulated garage. Peace of mind comes built-in with major structural updates already completed, including an encapsulated crawlspace with wifi enabled temperature & humidity sensor in 2025 and a roof replacement with new shingles, gutters, and downspouts in 2018. A pre listing home and termite inspection has been done, no major defects found. Don’t miss your chance to own this turnkey gem—schedule your private showing today!

8370 W SR 56, Lexington
1430 N State Rd 3, Lexington
$289,900
3 Beds ⋅ 2 Baths ⋅ 2026013368 MLS ⋅ ACTIVE Status
Welcome to country living with the comfort and convenience of BRAND-NEW CONSTRUCTION! Situated on 2.02 acres, this beautiful new home offers 1,530 square feet of thoughtfully designed living space, featuring 3 bedrooms, 2 full bathrooms, and an attached 2-car garage. The inviting open-concept floor plan creates a spacious and welcoming atmosphere, perfect for everyday living and entertaining. Enjoy the beauty and tranquility of country living with plenty of room to spread out, all while being conveniently located near the main highway for easy access to town and surrounding areas. Currently under construction and nearing completion, this home offers the perfect opportunity to enjoy modern living in a peaceful rural setting. Don’t miss your chance to make this brand-new home yours!

1430 N State Rd 3, Lexington
5970 S State Road 203, Lexington
$225,000
3 Beds ⋅ 2 Baths ⋅ 2026012920 MLS ⋅ ACTIVE Status
Selling Property AS IS. Escape to tranquility in this spacious 3-bed, 2-bath home on over 2 acres in the serene countryside. Enjoy peaceful living with the quiet surroundings, yet relish easy access to the highway and a short trip to shopping and restaurants. Embrace the perfect blend of rural retreat and convenience - your ideal home in the heart of nature awaits!

5970 S State Road 203, Lexington
6526 E Webster Road, Lexington
$175,000
2 Beds ⋅ 1 Baths ⋅ 2026012516 MLS ⋅ ACTIVE Status
Welcome home! This charming 2-bedroom, 1-bath home is nestled in a peaceful country setting on .69 acres, offering the perfect blend of comfort, privacy, and potential! Featuring a garage and a partial basement, this loved home has been well maintained and is ready for it's next owner to make it their own! Enjoy the beauty of the surrounding scenery from the inviting sunroom, filled with plenty of windows and natural light. Whether you're looking for a cozy place to call home or a property with room to add your own personal touches, this delightful home is full of possibilities and just waiting for you!

6526 E Webster Road, Lexington
6725 E State Road 56, Lexington
$294,500
3 Beds ⋅ 2 Baths ⋅ 2026012401 MLS ⋅ ACTIVE Status
Welcome to this beautifully built 3 bedroom, 2 full bathroom home nestled on a peaceful 2-acre wooded lot. Nearly everything in this home is brand new including the spacious main bedroom with walk out deck overlooking a natural creek and wooded views to enjoy your morning coffee or tea. The bright and open living room also opens to the deck, providing the perfect place to relax and take in the serene forest views. The basement offers a great area for additional storage, game room, or play area for the family. A rare opportunity to own a move-in ready home with a private natural setting.

6725 E State Road 56, Lexington
2077 N Shea Road, Lexington
$299,900
3 Beds ⋅ 2 Baths ⋅ 2026012252 MLS ⋅ ACTIVE Status
Here is modern living, in the country! Brand-new home with 3 Bedrooms, 2 Bathrooms, attached 2-car garage, and upgraded finishes. Kitchen has stone countertops, and garage has epoxy flake flooring. This home sits on over an acre and has nearly 1,600 square feet of living space. Book your showing today on this stunning home!

2077 N Shea Road, Lexington
11869 W State Road 56, Lexington
$249,900
3 Beds ⋅ 2 Baths ⋅ 2026012208 MLS ⋅ ACTIVE Status
Welcome home to this charming 3-bedroom, 1.5-bath property situated on 2.183 acres, offering a wonderful combination of comfortable living, outdoor space, and useful amenities. The inviting front porch provides the perfect place to sit back, relax, and watch the world go by. Inside, the kitchen features granite countertops and a beautiful fireclay farmhouse sink, while a new walk-in shower installed in 2023 adds a convenient update to the home. The property includes a large garage with a lean-to, providing plenty of room for vehicles, storage, hobbies, or projects. The garage is equipped with a pellet stove and window air conditioner for added comfort throughout the seasons. Outdoors, enjoy more than two acres with wooded areas that meander along the creek, creating a peaceful natural setting. An asphalt driveway provides convenient access to the home and garage. Additional improvements and features include a metal roof installed in 2014, 200-amp electrical service, and a heat pump installed in 2014 with a new coil added in 2024. Ceiling cable heat provides a dependable secondary heat source. With acreage, woods, creek frontage, a spacious garage, and thoughtful updates, this property offers plenty of room to enjoy both indoor and outdoor living. Standup freezer and refrigerator in the garage convey, and are currently working but no warranty is expressed.

11869 W State Road 56, Lexington
2045 N Shea Road, Lexington
$299,900
3 Beds ⋅ 2 Baths ⋅ 2026012240 MLS ⋅ ACTIVE Status
Here is modern living, in the country! Brand-new home with 3 Bedrooms, 2 Bathrooms, attached 2-car garage, and upgraded finishes. Kitchen has stone countertops, and garage has epoxy flake flooring. This home sits on over an acre and has nearly 1,600 square feet of living space. Book your showing today on this stunning home!

2045 N Shea Road, Lexington
1642 S 1066 W, Lexington
$424,900
3 Beds ⋅ 3 Baths ⋅ 2026012149 MLS ⋅ ACTIVE Status
BEAUTIFUL BRICK AND FRAME HOME WITH APPROX. 1800 SQ. FT. OVER WALK OUT BASEMENT. PARK LIKE SETTING AND SITUATED ON A 5.0500 ACRE LOT. OPEN FLOOR PLAN WITH SPLIT BR DESIGN. LOTS OF STORAGE. COVERED FRONT PORCH CONCRETE (5X27),REAR DECK (8X31), SIDE DECK WITH SWING (8.6X16), CONCRETE PATIO AT WALK OUT (8.6X11), OUTBUILDING (10X16), BRICK AND STONE BURN PIT (4X4). COVERED CAR PORT (18X20). 30 YEAR SHINGLED ROOF 2012 W/ GUTTER GAURDS. W/H 6 YRS. , HEAT AND AIR 9 YRS. FRONTIER HIGH SPEED INTERNET. Interior is being painted. Photos to follow. INTERIOR IS BEING FRESHLY PAINTED. PHOTOS UP LOADED SOON.

1642 S 1066 W, Lexington
1665 S 1000 W, Lexington
$299,000
3 Beds ⋅ 2 Baths ⋅ 2026011967 MLS ⋅ ACTIVE Status
Move-in ready and nestled on 2.5 private acres, this 3-bedroom, 2-bath home offers over 1,500 square feet of comfortable living space in a convenient Lexington location just off Highway 56, perfectly situated between Madison and Scottsburg. Inside, you'll find a spacious layout with a large bonus room that provides endless possibilities for a family room, home office, playroom, or hobby space. Step outside to enjoy the peaceful setting from the covered back porch overlooking the neighboring lake. Neighbors will potentially grant access after meeting the new owners. The detached garages are ideal for hobbyists, mechanics, or extra storage, both featuring electric. One garage includes concrete floors, a 220-volt outlet for welders or other heavy-duty equipment, plus a separate workshop complete with a wood stove and air conditioning for year-round use. Major updates include a 3-year-old HVAC system and a 4-year-old water heater, and encapsulated crawlspace with transferable warranty giving buyers added peace of mind. If you've been looking for a move-in ready home with acreage, privacy, and exceptional workshop space, this property is one you won't want to miss.

1665 S 1000 W, Lexington
7940 Hwy 56, Lexington
$299,900
4 Beds ⋅ 2 Baths ⋅ 2026011937 MLS ⋅ ACTIVE Status
Room to breathe, space to gather, and plenty of country charm—welcome to 7940 Highway 56 in Lexington! Built in 2020 and situated on five beautiful acres, this spacious four-bedroom home offers more than 2,000 finished square feet with two separate living areas, giving everyone room to spread out. The generous layout provides flexibility for entertaining, working from home, or creating the cozy spaces that fit your life. Outside, enjoy the peaceful acreage, room for animals or gardens, and your very own red chicken coop, which stays with the property. A whole-house generator is also included, offering valuable peace of mind year-round. If you have been looking for a newer home with space inside and out, this Southern Indiana property is ready to welcome you home.

7940 Hwy 56, Lexington
3180 S Mulberry Street, Lexington
$149,900
3 Beds ⋅ 2 Baths ⋅ 2026010673 MLS ⋅ ACTIVE Status
Looking for acreage with endless possibilities? This approximately 3.3-acre property offers a peaceful country setting surrounded by mature trees, providing privacy and plenty of room to enjoy the outdoors. The property includes an older manufactured home that is currently occupied and being sold AS IS, along with a storage shed for additional storage. Whether you're looking for a renovation project, a future homesite, or an investment opportunity, this property offers tremendous potential in a beautiful setting. Schedule your showing today and explore all the possibilities this unique property has to offer.

3180 S Mulberry Street, Lexington
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