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Lynchburg city, VA

ZIP 24503 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 24503

Median Home Value
$320,500
Median Rent
$844
Affordability Snapshot
$88,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,059/mo PITI).

11%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.5x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

31.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 24503 in Lynchburg city, VA, a household would need roughly $88,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,059. That is roughly in line with the local median household income ($92,025). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
74.9%+14% vs US avg
x
Vacancy Rate
9.6%-7% vs US avg
x
Broadband Access
95.7%+10% vs US avg
x
4+ Bedrooms
11.5%-22% vs US avg
x
Built Pre-1939
4.1%-68% vs US avg
x
Built Post-2014
0.5%-92% vs US avg
x
Rent Burden >30%
21.4%-57% vs US avg
x
Mortgage-Free
39.9%+5% vs US avg
x
$320,500
Home Value
$844
Rent
1971
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached72.5%
  • 1-unit attached5.2%
  • 2-9 units11.6%
  • 10+ units10.7%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$320,500
Median rent$844
Owner-occupied74.9%
Vacant9.6%
Price-to-income3.5x
Est. income to buy$88,000