24502, Lynchburg, VA

The 24502 zip code of Lynchburg, VA has a population of around 116,000 people. The median household income in this zip code is $60,000 which is about average for the surrounding area. The homeownership rate in this zip code is around 66% which is lower than the statewide homeownership rate of 73%. This means that there are a lot of homes that are available for sale but not necessarily being bought.

One reason that home prices may be lower in the 24502 zip code than elsewhere in Lynchburg is that there are a lot of homes that are older and not as well maintained. Additionally, many people who live in this zip code commute to work outside of Lynchburg which may also contribute to lower home prices. However, there have been recent developments in the area including new businesses and jobs being created which could lead to increased demand for housing and higher home prices.