Lynchburg, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lynchburg, TN Real Estate Data


Lynchburg Housing Market Information

With 6,336 people, 2,444 houses or apartments, and a median cost of homes of $159,088, Lynchburg real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Lynchburg, accounting for 77.57% of the town's housing units. Other types of housing that are prevalent in Lynchburg include mobile homes or trailers ( 18.88%), duplexes, homes converted to apartments or other small apartment buildings ( 1.91%), and a few large apartment complexes or high rise apartments ( 1.64%).

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 81.68% of Lynchburg's homes, and 71.61% 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 2000 and later ( 21.61%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.31%). There's also some housing in Lynchburg built before 1939 ( 6.51%).

Vacant housing appears to be an issue in Lynchburg. Fully 16.70% 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

In the last 10 years, Lynchburg has experienced some of the highest home appreciation rates of any community in the nation. Lynchburg real estate appreciated 21.63% over the last ten years, which is an average annual home appreciation rate of 1.98%, putting Lynchburg in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lynchburg definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Lynchburg's appreciation rate, at 5.31%, has been at or slightly above the national average. In the latest quarter, Lynchburg's appreciation rate has been 1.80%, which annualizes to a rate of 7.39%.

Relative to Tennessee, our data show that Lynchburg's latest annual appreciation rate is higher than 60% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$159,088

Lynchburg, TN HOME PRICES

Value Range
> $1,123,000 0.0
$842,001 - $1,123,000 0.6
$562,001 - $842,000 3.4
$449,001 - $562,000 2.4
$337,001 - $449,000 3.4
$224,001 - $337,000 16.7
$112,001 - $224,000 39.4
$56,001 - $112,000 19.5
$0 - $56,000 14.6

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
47.0691573461381 27.0408163265306

Number Of Homes And Apartments:
2,444

Rent & Ownership

 

Average Market Rent:
$844 / per month

Homeownership Rate

Homeownership
Owners 81.68
Renters 18.32
Vacant 16.70

Housing Market Details

 

Age of Homes

AGE OF Lynchburg HOMES
2000 or Newer 21.6
1970 - 1999 51.6
1940 - 1969 20.3
1939 or Older 6.5

Types of Homes

TYPE OF Lynchburg HOMES
Single-Family 77.6
Townhomes 0.0
Small Apt. Buildings 1.9
Apt. Complexes 1.6
Mobile Homes 18.9
Other 0.0

Home Size

SIZE OF Lynchburg HOMES
No Bedroom 0.27
1 Bedroom 2.52
2 Bedrooms 21.40
3 Bedrooms 57.40
4 Bedrooms 14.21
5 or more bedrooms 4.19

Lynchburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
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
53.02% 2.53% 9 6
* 10 is highest