Lynchburg, VA is a vibrant city offering many opportunities for its residents. The 2 bedroom rent in Lynchburg is much lower than the US average at $1,070 compared to $1,430, making it an attractive place to live. Additionally, grocery costs are also much more affordable with a Grocery Cost Index of 97 versus 100 in the US. This gives families and individuals significant savings when living in Lynchburg. Many local companies such as BWX Technologies, Centra Health, and Genworth Financial have their headquarters here making it a great city for those looking for employment opportunities. Overall, Lynchburg offers something for everyone and is an ideal place to call home.
Lynchburg has an unemployment rate of 6.7%. The US average is 6.0%.
Lynchburg 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
- The Sales Tax Rate for Lynchburg is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Lynchburg 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
- The average income of a Lynchburg resident is $21,236 a year. The US average is $28,555 a year.
- The Median household income of a Lynchburg resident is $54,015 a year. The US average is $69,021 a year.