Lynchburg, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lynchburg, SC Real Estate Data


Lynchburg Housing Market Information

With a population of 354, 182 total housing units (homes and apartments), and a median house value of $65,392, house prices in Lynchburg are some of the most affordable in South Carolina as well as the nation.

Single-family detached homes are the single most common housing type in Lynchburg, accounting for 53.91% of the town's housing units. Other types of housing that are prevalent in Lynchburg include mobile homes or trailers ( 40.00%), duplexes, homes converted to apartments or other small apartment buildings ( 3.91%), and a few large apartment complexes or high rise apartments ( 2.17%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lynchburg. Owner-occupied housing accounts for 67.58% of Lynchburg's homes, and 77.83% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lynchburg built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lynchburg built between 1940-1969 ( 26.52%). A lesser amount of the housing stock also hails from before 1939 ( 6.96%). There's also some housing in Lynchburg built between 2000 and later ( 6.09%).

Vacant housing appears to be an issue in Lynchburg. Fully 20.87% of the housing stock is classified as vacant. Left unchecked, vacant Lynchburg homes and apartments can be a drag on the real estate market, holding Lynchburg real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Lynchburg Home Appreciation Rates

Appreciation rates for homes in Lynchburg have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.39%, which ranks in the top 30% nationwide. This equates to an annual average Lynchburg house appreciation rate of 1.18%.

Appreciation rates are so strong in Lynchburg that despite a nationwide downturn in the housing market, Lynchburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lynchburg appreciation rates continue to be some of the highest in America, at 6.14%, which is higher than appreciation rates in 76.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lynchburg. Lynchburg appreciation rates in the latest quarter were at -0.61%, which equates to an annual appreciation rate of -2.43%.

Notably, Lynchburg's appreciation rate in the latest quarter is one of the lowest in America.

Relative to South Carolina, our data show that Lynchburg's latest annual appreciation rate is higher than 50% of the other cities and towns in South Carolina.

Average Home Values

 

Median Home Value:
$65,392

Lynchburg, SC HOME PRICES

Value Range
> $1,072,000 0.0
$804,001 - $1,072,000 0.0
$536,001 - $804,000 1.3
$429,001 - $536,000 0.0
$321,001 - $429,000 3.8
$214,001 - $321,000 3.4
$107,001 - $214,000 16.6
$54,001 - $107,000 38.1
$0 - $54,000 36.8

Very Low for SC
Very Low for Nation

Value Relative to Nation Value Relative to State
97.066229431399 92.5650557620818

Number Of Homes And Apartments:
182

Rent & Ownership

 

Average Market Rent:
$767 / per month

Homeownership Rate

Homeownership
Owners 67.58
Renters 32.42
Vacant 20.87

Housing Market Details

 

Age of Homes

AGE OF Lynchburg HOMES
2000 or Newer 6.1
1970 - 1999 60.4
1940 - 1969 26.5
1939 or Older 7.0

Types of Homes

TYPE OF Lynchburg HOMES
Single-Family 53.9
Townhomes 0.0
Small Apt. Buildings 3.9
Apt. Complexes 2.2
Mobile Homes 40.0
Other 0.0

Home Size

SIZE OF Lynchburg HOMES
No Bedroom 0.00
1 Bedroom 6.52
2 Bedrooms 15.22
3 Bedrooms 58.70
4 Bedrooms 19.13
5 or more bedrooms 0.43

Lynchburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
28.24% 1.47% 4 3
* 10 is highest

Popular Neighborhoods in Lynchburg

Zip Codes in Lynchburg, SC