Lynchburg, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lynchburg, SC Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lynchburg Housing Market Information

With 354 people, 143 houses or apartments, and a median cost of homes of $62,957, 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 60.85% of the town's housing units. Other types of housing that are prevalent in Lynchburg include mobile homes or trailers ( 31.22%), duplexes, homes converted to apartments or other small apartment buildings ( 4.76%), and a few large apartment complexes or high rise apartments ( 3.17%).

The most prevalent building size and type in Lynchburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.94% owning and 37.06% renting.

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 ( 31.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.64%). There's also some housing in Lynchburg built before 1939 ( 10.05%).

Vacant housing appears to be an issue in Lynchburg. Fully 24.34% 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

Real estate appreciation rates in Lynchburg's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.22% during the period.

Over the last year, Lynchburg appreciation rates have trailed the rest of the nation. In the last twelve months, Lynchburg's appreciation rate has been -0.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lynchburg were at 1.10%, which equates to an annual appreciation rate of 4.47%.

Relative to South Carolina, our data show that Lynchburg's latest annual appreciation rate is lower than 80% of the other cities and towns in South Carolina.

Average Home Values

 

Median Home Value:
$62,957

Lynchburg, SC HOME PRICES

Value Range
> $1,067,000 0.0
$800,001 - $1,067,000 0.0
$534,001 - $800,000 1.3
$427,001 - $534,000 0.0
$320,001 - $427,000 8.7
$213,001 - $320,000 6.6
$107,001 - $213,000 13.1
$54,001 - $107,000 30.3
$0 - $54,000 40.0

Very Low for SC
Very Low for Nation

Value Relative to Nation Value Relative to State
97.398335872495 97.0260223048327

Number Of Homes And Apartments:
143

Lynchburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
25.26% 1.31% 4 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$610 / per month

Homeownership Rate

Homeownership
Owners 62.94
Renters 37.06
Vacant 24.34

Housing Market Details

 

Age of Homes

AGE OF Lynchburg HOMES
2000 or Newer 11.6
1970 - 1999 47.1
1940 - 1969 31.2
1939 or Older 10.1

Types of Homes

TYPE OF Lynchburg HOMES
Single-Family 60.8
Townhomes 0.0
Small Apt. Buildings 4.8
Apt. Complexes 3.2
Mobile Homes 31.2
Other 0.0

Home Size

SIZE OF Lynchburg HOMES
No Bedroom 0.00
1 Bedroom 8.99
2 Bedrooms 21.16
3 Bedrooms 49.21
4 Bedrooms 19.58
5 or more bedrooms 1.06

Popular Neighborhoods in Lynchburg

Zip Codes in Lynchburg, SC