Lynchburg, VA—24504
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 $176,000, with a year-over-year change of -1.0%. This indicates that home prices in Lynchburg, VA are flat. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $176,000 | -1.0% |
| Single Family | $174,000 | -1.7% |
| Condos | $204,000 | 12.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $138,000 | -3.5% |
3 Bed | $241,000 | 3.4% |
4 Bed | $285,000 | 1.4% |
| 5 Bed | $390,000 | -0.5% |
% of Housing Stock
Rental Trends — Lynchburg, VA
As of July '25, Rentcast reports the average rent in Lynchburg, VA is $1,250, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in Lynchburg, VA is studios: $1,220, 1-bedrooms: $998, 2-bedrooms: $1,040, 3-bedrooms: $1,630, 4-bedrooms: $2,220. The most common rental property sizes in Lynchburg, VA are 2-bedroom and 1-bedroom, accounting for 30.1% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,250 |
| Studio Rent | $1,050 | $1,220 |
| 1 Bed Rent | $945 | $998 |
| 2 Bed Rent | $895 | $1,040 |
| 3 Bed Rent | $1,500 | $1,630 |
| 4 Bed Rent | $2,100 | $2,220 |
% 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 48. This is a decrease of -6.0% 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 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $218,000 | 19.0% |
Listing Count | 61 | -7.0% |
| Listings as % of Homes | 0.6% | -7.0% |
Days on Market | 48 | -6.0% |
Demographics — Lynchburg, VA
As of the latest ACS Survey released in 2023, Lynchburg, VA has a population of 9,470, which has decreased by -4.7% over the past 5 years. Lynchburg, VA is a moderately popular place for families, as children make up 21.1% of the population. The area has a poorly educated workforce, with 24.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,470 | -4.7% |
% Under 18 | 21.1% | 11.6% |
% Seniors | 18.1% | 16.8% |
% WFH | 9.7% | 115.6% |
% w/ College Degree | 24.3% | 19.7% |
As of the latest ACS Survey released in 2023, Lynchburg, VA is a predominantly white area, with 51.2% of the population identifying as white. The white population has grown by 2.6% in the last 5 years. The second most common race or ethnicity in Lynchburg, VA is black, making up 40.7% of the population. Foreign-born residents account for 3.7% of the population in Lynchburg, VA, and this percentage has increased by 94.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 51.2% | 2.6% |
% Black | 40.7% | -10.9% |
% Hispanic | 3.7% | 131.2% |
% Asian | 0.1% | -88.9% |
% Foreign Born | 3.7% | 94.7% |
Mortgage and Risk — Lynchburg, VA
According to HUD data as of 2023, there were 159 mortgage originations in Lynchburg, VA, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Lynchburg, VA. Investor activity is low, as 10.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 159 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 10.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Lynchburg, VA
As of 2024, the percent of homes in Lynchburg, VA under the Section 8 program is 20.1%. 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 | 361 |
Total Units Section 8 | 361 |
% Rentals under Section 8 | 20.1% |
% Occupied Section 8 | 84.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $165 | $945 | $1,110 |
| 2 Bedroom | $355 | $895 | $1,250 |
| 3 Bedroom | $220 | $1,500 | $1,720 |
| 4 Bedroom | -$240 | $2,100 | $1,860 |
Affordability — Lynchburg, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $176,000 |
| Median Household Income | $50,700 |