The housing market in Lynchburg, VA is an attractive area for potential buyers due to its comparatively low median home value of $159,000. This is significantly lower than the US median home value of $338,100 and provides an opportunity for buyers to purchase a home without stretching their budget. Additionally, the 1 year house appreciation in Lynchburg is 14.49%, much higher than the US average of 8.27%. This indicates that Lynchburg real estate has been steadily increasing in value, making it an even more desirable location for potential homeowners.
The median home cost in Lynchburg (zip 24501) is $159,000. Home appreciation the last 10 years has been 60.7%. Home Appreciation in Lynchburg (zip 24501) is up 17.9%.
Average Age of Homes
- The median age of Lynchburg (zip 24501) real estate is 47 years old
The Rental Market in Lynchburg (zip 24501)
- Renters make up 45.3% of the Lynchburg (zip 24501) population
- 4.3% of houses and apartments in Lynchburg (zip 24501), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.