Housing costs in Lynchburg?
A typical home costs
$159,000, which is 53.0% less expensive than the national average of
$338,100 and 53.7% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Lynchburg costs
$980 per month, which is 30.0% cheaper than the national average of
$1,400 and 5.1% more than the state average of
$930.
Can I afford Lynchburg?
To live comfortably in Lynchburg (zip 24501), Virginia, a minimum annual income of
$30,600 for a family, and
$34,400 for a single person is recommended.
What does A.I. say about Lynchburg?
The cost of living in Lynchburg, VA is relatively low compared to other cities in the United States. According to Sperling’s Best Places, the overall cost of living index for Lynchburg is 82.2 as compared to the US average of 100. The median home value is $142,800 and overall rent prices are about 8% lower than the national average. The unemployment rate for Lynchburg is 3.7%, which is slightly higher than the US average of 3%. Grocery and transportation costs are also below the national average, making everyday life more affordable in Lynchburg.