Lynchburg, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lynchburg Neighborhoods Since 2000




Lynchburg, VA 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 79,812 people, 28,528 houses or apartments, and a median cost of homes of $161,264, 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 55.88% of the city's housing units. Other types of housing that are prevalent in Lynchburg include large apartment complexes or high rise apartments ( 23.92%), duplexes, homes converted to apartments or other small apartment buildings ( 10.99%), and a few row houses and other attached homes ( 7.81%).

The most prevalent building size and type in Lynchburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 43.89% owning and 56.11% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lynchburg's housing was primarily built during this period, from the '40s through the '60s. A full 34.53% of the city's housing hails from this era. Other housing ages represented in Lynchburg include homes built between 1970-1999 ( 32.23%) and housing constructed before 1939 ( 18.12%). There's also some housing in Lynchburg built between 2000 and later ( 15.12%).

Vacant housing appears to be an issue in Lynchburg. Fully 11.55% 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 -0.20% during the period.

NeighborhoodScout's data show that during the latest twelve months, Lynchburg's appreciation rate, at 3.54%, has been at or slightly above the national average. In the latest quarter, Lynchburg's appreciation rate has been 0.50%, which annualizes to a rate of 2.02%.

Relative to Virginia, our data show that Lynchburg's latest annual appreciation rate is higher than 70% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lynchburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lynchburg - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lynchburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$161,264

Lynchburg, VA HOME PRICES

Value Range
> $1,060,000 0.5
$794,001 - $1,060,000 0.5
$530,001 - $794,000 2.4
$424,001 - $530,000 2.6
$318,001 - $424,000 5.5
$212,001 - $318,000 15.6
$106,001 - $212,000 43.9
$53,001 - $106,000 21.3
$0 - $53,000 7.7

Low for VA
Average for Nation

Value Relative to Nation Value Relative to State
45.113090355092 61.4958448753463

Number Of Homes And Apartments:
28,528

Lynchburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
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
42.72% 2.08% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,043 / per month

Homeownership Rate

Homeownership
Owners 43.89
Renters 56.11
Vacant 11.55

Housing Market Details

 

Age of Homes

AGE OF Lynchburg HOMES
2000 or Newer 15.1
1970 - 1999 32.2
1940 - 1969 34.5
1939 or Older 18.1

Types of Homes

TYPE OF Lynchburg HOMES
Single-Family 55.9
Townhomes 7.8
Small Apt. Buildings 11.0
Apt. Complexes 23.9
Mobile Homes 1.4
Other 0.0

Home Size

SIZE OF Lynchburg HOMES
No Bedroom 2.10
1 Bedroom 10.47
2 Bedrooms 33.41
3 Bedrooms 35.74
4 Bedrooms 14.28
5 or more bedrooms 4.00