Lynchburg, VA—24503
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 $363,000, with a year-over-year change of 2.0%. 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 | $363,000 | 2.0% |
| Single Family | $365,000 | 2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $226,000 | 0.9% |
3 Bed | $337,000 | 1.8% |
4 Bed | $444,000 | 2.8% |
| 5 Bed | $605,000 | 3.8% |
% 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 1-bedrooms: $959, 2-bedrooms: $1,100, 3-bedrooms: $1,540, 4-bedrooms: $2,450. The most common rental property sizes in Lynchburg, VA are 2-bedroom and 3-bedroom, accounting for 50.4% and 23.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,150 | $1,310 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $896 | $959 |
| 2 Bed Rent | $1,040 | $1,100 |
| 3 Bed Rent | $1,300 | $1,540 |
| 4 Bed Rent | $1,800 | $2,450 |
% 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 46. This is a decrease of -22.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $435,000 | -2.0% |
Listing Count | 123 | 10.0% |
| Listings as % of Homes | 0.8% | 10.0% |
Days on Market | 46 | -22.0% |
Demographics — Lynchburg, VA
As of the latest ACS Survey released in 2023, Lynchburg, VA has a population of 20,000, which has increased by 2.6% over the past 5 years. Lynchburg, VA is a moderately popular place for families, as children make up 23.9% of the population. The area has a highly educated workforce, with 59.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,000 | 2.6% |
% Under 18 | 23.9% | 14.4% |
% Seniors | 23.0% | 5.0% |
% WFH | 16.0% | 226.5% |
% w/ College Degree | 59.2% | 7.2% |
As of the latest ACS Survey released in 2023, Lynchburg, VA is a predominantly white area, with 79.1% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Lynchburg, VA is black, making up 11.9% of the population. Foreign-born residents account for 2.5% of the population in Lynchburg, VA, and this percentage has decreased by 32.4% 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 | 79.1% | -3.5% |
% Black | 11.9% | 9.2% |
% Hispanic | 3.9% | 25.8% |
% Asian | 0.9% | -60.9% |
% Foreign Born | 2.5% | -32.4% |
Mortgage and Risk — Lynchburg, VA
According to HUD data as of 2023, there were 504 mortgage originations in Lynchburg, VA, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Lynchburg, VA. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 504 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Lynchburg, VA
As of 2024, the percent of homes in Lynchburg, VA under the Section 8 program is 5.4%. 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. 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 | 100 |
Total Units Section 8 | 100 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $114 | $896 | $1,010 |
| 2 Bedroom | $100 | $1,040 | $1,140 |
| 3 Bedroom | $260 | $1,300 | $1,560 |
| 4 Bedroom | -$100 | $1,800 | $1,700 |
Affordability — Lynchburg, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $363,000 |
| Median Household Income | $92,000 |