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Lynchburg city, VA

ZIP 24504 — Housing & Real Estate

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

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 24504

Median Home Value
$183,400
Median Rent
$774
Affordability Snapshot
$50,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,178/mo PITI).

18%
Rent-to-Income Ratio

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

3.6x
Home Price-to-Income Ratio

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

19.7 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 24504 in Lynchburg city, VA, a household would need roughly $50,000 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 $1,178. That is roughly in line with the local median household income ($50,739). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 22% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
53.6%-18% vs US avg
x
Vacancy Rate
21.6%+109% vs US avg
x
Broadband Access
88.2%+1% vs US avg
x
4+ Bedrooms
3.2%-78% vs US avg
x
Built Pre-1939
5.6%-56% vs US avg
x
Built Post-2014
0.2%-98% vs US avg
x
Rent Burden >30%
28.9%-42% vs US avg
x
Mortgage-Free
46.5%+22% vs US avg
x
$183,400
Home Value
$774
Rent
1951
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

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

  • 1-unit detached59.8%
  • 1-unit attached4.4%
  • 2-9 units14.6%
  • 10+ units15.8%
  • Mobile home & other5.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$183,400
Median rent$774
Owner-occupied53.6%
Vacant21.6%
Price-to-income3.6x
Est. income to buy$50,000