Housing Report for Lynchburg
Lynchburg had an owner-occupied dwelling median in 2005 of $118,700, published by the American Community Survey. This value is less than the overall Virginia 2005 median home value of $212,300 and less than median home value of $167,500 across the United States during the same year.
When comparing areas across the State of Virginia, Lynchburg ranks 6 of the 9 metro areas by percent in growth of new residential structures. The metropolitan area places 192 of 361, comparing the percentage change in residential real estate in other US MSAs.
In Lynchburg, there were a total of 104,658 housing units in the year 2005. This represents a medium-high growth level in the number housing units, adding all together 5,007 homes since 2001, or 5 percent.
The residential housing values in Lynchburg, Virginia have experienced moderate increases from the real estate values reported in 2000. The valuations have increased by $20,900, or 21.4 percent, from 2000 when they had reported median values of $97,800.
There seems to be a large amount of real estate that is affordable in Lynchburg, Virginia. In 2005, 53.6 percent of residential real estate was valued under $125,000.
Lynchburg may be described as having a medium percentage of homes that are high in price. For 2005, the American Community Survey reports that 3.5 percent of the areas residential property was valued over $500k.
Data Source: U.S. Census Bureau
When comparing areas across the State of Virginia, Lynchburg ranks 6 of the 9 metro areas by percent in growth of new residential structures. The metropolitan area places 192 of 361, comparing the percentage change in residential real estate in other US MSAs.
In Lynchburg, there were a total of 104,658 housing units in the year 2005. This represents a medium-high growth level in the number housing units, adding all together 5,007 homes since 2001, or 5 percent.
The residential housing values in Lynchburg, Virginia have experienced moderate increases from the real estate values reported in 2000. The valuations have increased by $20,900, or 21.4 percent, from 2000 when they had reported median values of $97,800.
There seems to be a large amount of real estate that is affordable in Lynchburg, Virginia. In 2005, 53.6 percent of residential real estate was valued under $125,000.
Lynchburg may be described as having a medium percentage of homes that are high in price. For 2005, the American Community Survey reports that 3.5 percent of the areas residential property was valued over $500k.
Data Source: U.S. Census Bureau
