Lynchburg, VA—24502
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 $274,000, with a year-over-year change of 1.6%. This indicates that home prices in Lynchburg, VA are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $274,000 | 1.6% |
| Single Family | $275,000 | 1.9% |
| Condos | $229,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $205,000 | 1.5% |
3 Bed | $280,000 | 1.4% |
4 Bed | $322,000 | 1.9% |
| 5 Bed | $371,000 | 1.1% |
% of Housing Stock
Rental Trends — Lynchburg, VA
As of July '25, Rentcast reports the average rent in Lynchburg, VA is $1,480, with a year-over-year rent change of 1.4%. Per bedroom, the median rent as of July '25 in Lynchburg, VA is studios: $1,240, 1-bedrooms: $938, 2-bedrooms: $1,180, 3-bedrooms: $1,710, 4-bedrooms: $2,140. The most common rental property sizes in Lynchburg, VA are 2-bedroom and 3-bedroom, accounting for 50.6% and 23.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,420 | $1,480 |
| Studio Rent | $1,410 | $1,240 |
| 1 Bed Rent | $805 | $938 |
| 2 Bed Rent | $1,150 | $1,180 |
| 3 Bed Rent | $1,740 | $1,710 |
| 4 Bed Rent | $2,000 | $2,140 |
% 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 44. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $314,000 | 3.0% |
Listing Count | 210 | 10.0% |
| Listings as % of Homes | 0.4% | 10.0% |
Days on Market | 44 | -2.0% |
Demographics — Lynchburg, VA
As of the latest ACS Survey released in 2023, Lynchburg, VA has a population of 41,300, which has decreased by -9.0% over the past 5 years. Lynchburg, VA is a moderately popular place for families, as children make up 19.2% of the population. The area has a moderately educated workforce, with 38.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 41,300 | -9.0% |
% Under 18 | 19.2% | 15.7% |
% Seniors | 15.7% | 12.1% |
% WFH | 10.9% | 186.8% |
% w/ College Degree | 38.5% | 10.0% |
As of the latest ACS Survey released in 2023, Lynchburg, VA is a predominantly white area, with 68.3% of the population identifying as white. The white population has shrunk by 6.4% in the last 5 years. The second most common race or ethnicity in Lynchburg, VA is black, making up 19.0% of the population. Foreign-born residents account for 6.4% of the population in Lynchburg, VA, and this percentage has decreased by 8.6% 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 | 68.3% | -6.4% |
% Black | 19.0% | 19.5% |
% Hispanic | 6.0% | 11.1% |
% Asian | 2.6% | -13.3% |
% Foreign Born | 6.4% | -8.6% |
Mortgage and Risk — Lynchburg, VA
According to HUD data as of 2023, there were 687 mortgage originations in Lynchburg, VA, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Lynchburg, VA. Investor activity is low, as 6.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 687 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 6.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Lynchburg, VA
As of 2024, the percent of homes in Lynchburg, VA under the Section 8 program is 6.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Lynchburg, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 528 |
Total Units Section 8 | 528 |
% Rentals under Section 8 | 6.6% |
% Occupied Section 8 | 85.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $485 | $805 | $1,290 |
| 2 Bedroom | $310 | $1,150 | $1,460 |
| 3 Bedroom | $260 | $1,740 | $2,000 |
| 4 Bedroom | $170 | $2,000 | $2,170 |
Affordability — Lynchburg, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $274,000 |
| Median Household Income | $66,000 |