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Lynchburg

Learn about the people, housing, costs and businesses in Lynchburg

Median Home$242,789
Median Rent$974/month
Population263,798
Leading IndustriesPublic Administration · Retail27% public administration
Home Value Growth⬆⬆+18.2% over 2 years
Retirees20% of residentsslightly above average
Homeowners72% of occupied units
NotableVeteran Community8% of residents · top 28% nationally
Lynchburg

Frequently Asked Questions

What are today's mortgage rates in Lynchburg?

Mortgage rates for Lynchburg are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

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What is the median home price in Lynchburg?

The median home value in Lynchburg is $243k. The median monthly rent is $974. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lynchburg?

Home values in Lynchburg have increased 18.2% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lynchburg?

Based on a typical all-in ownership cost of $963/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $41k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lynchburg is $69k/year.

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What industries drive the economy in Lynchburg?

The largest employment sectors in Lynchburg are public administration (27%) and retail (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.