24503 Lynchburg, VA is an area with an affordable cost of living! The average 2 bedroom rent in the region is $920, which is substantially lower than the US average at $1,430. Additionally, the grocery cost index in 24503 Lynchburg is 100 versus 100 for the US. This makes it a great place to live without breaking your budget. Local companies in this area include Bank of the James, LU Online Education, Big Lick Entertainment Group and Kilby Cream. With plenty of opportunities and amenities nearby, 24503 Lynchburg is an excellent choice for anyone looking to relocate to Virginia!
Lynchburg (zip 24503) has an unemployment rate of 6.7%. The US average is 6.0%.
Lynchburg (zip 24503) has seen the job market decrease by -5.7% 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 24503)
- The Sales Tax Rate for Lynchburg (zip 24503) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Lynchburg (zip 24503) 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 24503)
- The average income of a Lynchburg (zip 24503) resident is $41,805 a year. The US average is $37,638 a year.
- The Median household income of a Lynchburg (zip 24503) resident is $79,335 a year. The US average is $69,021 a year.