Lynchburg, Virginia Housing Market Prices
Lynchburg Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 22% below the Virginia median$199,135
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Median rent 32% below the Virginia median$1,072
Housing Market Overview
| Metric | Lynchburg | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $199,135 | $256,082 | $248,835 |
| Price Trend (Annual %) | 6.5% | 3.5% | 7.5% |
| Median Gross Rent | $1,072 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lynchburg is about 22% lower than in Virginia. Rent is about 32% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lynchburg, up about 6.5% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Lynchburg rose about 37.9% between 2015 and 2024, from $777 to $1,072. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Lynchburg.
Buying the median-priced home in Lynchburg costs roughly 15.5 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lynchburg. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Lynchburg | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $199,135 | $256,082 | $248,835 |
| Median Household Income | $58,366 | $93,527 | $80,455 |
| Price-to-Income Ratio | 3.4 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lynchburg rose about 50.4%, while median household income rose about 49.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lynchburg | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.0% | 61.5% | 58.5% |
| Rental Rate | 42.9% | 29.8% | 31.2% |
| Vacancy Rate | 16.1% | 8.7% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Lynchburg has a homeownership rate of 41.0%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 16.1%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Lynchburg | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1971 | 1982 | 1978 |
| Median Number of Rooms | 5.4 | 6.0 | 5.5 |
The typical housing unit in Lynchburg was built around 1971. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lynchburg, Virginia.
What is the median home price in Lynchburg, Virginia?
The median home price in Lynchburg, Virginia is $199,135, lower than the Virginia average of $256,082.
What is the average home price in Lynchburg, Virginia?
The typical home price in Lynchburg, Virginia, reported as the median sale price, is $199,135. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lynchburg, Virginia?
The median gross rent in Lynchburg, Virginia is $1,072 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Lynchburg in 2020?
In 2020, the median gross rent in Lynchburg, Virginia was $858 per month.
What is the price-to-rent ratio in Lynchburg, Virginia?
The price-to-rent ratio in Lynchburg, Virginia is about 15.5, meaning it would take roughly 15.5 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lynchburg.
Are home prices or rent rising faster in Lynchburg, Virginia?
Both home prices and rent are rising in Lynchburg, up about 6.5% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lynchburg, Virginia?
41.0% of households in Lynchburg, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Lynchburg, Virginia?
The housing vacancy rate in Lynchburg, Virginia is 16.1%, higher than the Virginia average of 8.7%.
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