Lynchburg, VA is a great place for people looking to rent. According to statistics, the average 2-bedroom rent cost in Lynchburg is $980 per month, which is much more affordable than the US average of $1,430. The grocery cost index in Lynchburg is also lower than the US average at 94 versus 100. \nFor those looking to live and work in Lynchburg there are many local companies such as Centra Health, BWX Technologies Inc., Avoca Inc., GE Healthcare and more that offer competitive wages. With its reasonable rent and lower cost of living expenses Lynchburg is an attractive location for job seekers.
Lynchburg (zip 24501) has an unemployment rate of 6.7%. The US average is 6.0%.
Lynchburg (zip 24501) 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 (zip 24501)
- The Sales Tax Rate for Lynchburg (zip 24501) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Lynchburg (zip 24501) 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 (zip 24501)
- The average income of a Lynchburg (zip 24501) resident is $16,530 a year. The US average is $28,555 a year.
- The Median household income of a Lynchburg (zip 24501) resident is $42,951 a year. The US average is $69,021 a year.