Lynchburg city, VA County is a vibrant and welcoming community with plenty of great opportunities for growth and development. The county is home to many large companies such as Centra Health, BWX Technologies, Babcock & Wilcox and Waukeshaw Development. Despite the increasing cost of living in Lynchburg City, rents are comparatively lower than the national average. For example, two bedroom rent in Lynchburg City is $930 compared to a nationwide average of $1,430. Additionally, the Grocery Cost Index in Lynchburg City is 96 compared to a US index of 100. This means that grocery costs are significantly lower than the national average making things more affordable for residents.
Lynchburg City County has an unemployment rate of 6.7%. The US average is 6.0%.
Lynchburg City County has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 30.7%, which is lower than the US average of 33.5%.
Tax Rates for Lynchburg City County
- The Sales Tax Rate for Lynchburg City County is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Lynchburg City County is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lynchburg City County
- The average income of a Lynchburg City County resident is $21,236 a year. The US average is $28,555 a year.
- The Median household income of a Lynchburg City County resident is $54,015 a year. The US average is $69,021 a year.