Lynchburg, VA—24501
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lynchburg, VA
As of Oct '25, the median home price in Lynchburg, VA is $194,000, with a year-over-year change of -0.8%. This indicates that home prices in Lynchburg, VA are flat. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $194,000 | -0.8% |
| Single Family | $194,000 | -0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $168,000 | 0.0% |
3 Bed | $237,000 | 0.9% |
4 Bed | $295,000 | 1.0% |
| 5 Bed | $330,000 | -0.3% |
% of Housing Stock
Rental Trends — Lynchburg, VA
As of July '25, Rentcast reports the average rent in Lynchburg, VA is $1,310, with a year-over-year rent change of 2.3%. Per bedroom, the median rent as of July '25 in Lynchburg, VA is studios: $846, 1-bedrooms: $786, 2-bedrooms: $1,170, 3-bedrooms: $1,500, 4-bedrooms: $2,100. The most common rental property sizes in Lynchburg, VA are 2-bedroom and 1-bedroom, accounting for 48.2% and 23.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,310 |
| Studio Rent | $895 | $846 |
| 1 Bed Rent | $750 | $786 |
| 2 Bed Rent | $1,200 | $1,170 |
| 3 Bed Rent | $1,500 | $1,500 |
| 4 Bed Rent | $1,950 | $2,100 |
% of Rental Stock
Property Listings — Lynchburg, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Lynchburg, VA is 51. This is a increase of 27.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $229,000 | -2.0% |
Listing Count | 141 | 9.0% |
| Listings as % of Homes | 0.9% | 9.0% |
Days on Market | 51 | 27.0% |
Demographics — Lynchburg, VA
As of the latest ACS Survey released in 2023, Lynchburg, VA has a population of 26,400, which has decreased by -4.2% over the past 5 years. Lynchburg, VA is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 25.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,400 | -4.2% |
% Under 18 | 21.6% | -5.3% |
% Seniors | 14.3% | 11.7% |
% WFH | 8.6% | 120.5% |
% w/ College Degree | 25.4% | 25.1% |
As of the latest ACS Survey released in 2023, Lynchburg, VA is a predominantly white area, with 57.7% of the population identifying as white. The white population has grown by 9.3% in the last 5 years. The second most common race or ethnicity in Lynchburg, VA is black, making up 34.3% of the population. Foreign-born residents account for 2.8% of the population in Lynchburg, VA, and this percentage has decreased by 39.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 57.7% | 9.3% |
% Black | 34.3% | -14.0% |
% Hispanic | 3.3% | -2.9% |
% Asian | 0.9% | -40.0% |
% Foreign Born | 2.8% | -39.1% |
Mortgage and Risk — Lynchburg, VA
According to HUD data as of 2023, there were 469 mortgage originations in Lynchburg, VA, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Lynchburg, VA. Investor activity is low, as 11.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 469 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 11.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Lynchburg, VA
As of 2024, the percent of homes in Lynchburg, VA under the Section 8 program is 21.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Lynchburg, VA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,574 |
Total Units Section 8 | 1,174 |
% Rentals under Section 8 | 21.6% |
% Occupied Section 8 | 71.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $320 | $750 | $1,070 |
| 2 Bedroom | $10 | $1,200 | $1,210 |
| 3 Bedroom | $160 | $1,500 | $1,660 |
| 4 Bedroom | -$150 | $1,950 | $1,800 |
Affordability — Lynchburg, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $194,000 |
| Median Household Income | $45,300 |