Latest available · Census ACS 5-Year (2024)
What Is the Average Rent in ZCTA5 24502, Virginia?
ZIP code · Census ACS 5-Year estimates
The median gross rent in ZCTA5 24502, Virginia (ZIP 24502) is $1,224/month (±$49), based on Census ACS 5-Year estimates (2024). The median home value is $228,100 (±$5,971), and the median household income is $68,872/year. The unemployment rate in Lynchburg city, Virginia was 4% as of April 2026 (preliminary). Source: U.S. Census Bureau, American Community Survey, 2024 5-Year Estimates.
Housing Metrics for ZIP 24502
| Metric | Value |
|---|---|
| Median Gross Rent | $1,224 |
| Median Home Value | $228,100 |
| Median Household Income | $68,872 |
| Total Housing Units | 16,748 |
| Renter-Occupied Units | 7,985 |
| Renter-Occupied Share | 48% |
| Households Paying 50%+ Income | 1,774 households |
| Unemployment Rate(April 2026) | 4% |
How does ZIP 24502 compare?
Median gross rent ranked against all ZIP codes in Virginia.
Higher rent than 56% of ZIP codes in Virginia · 274th of 616
| # | ZIP code | Value |
|---|---|---|
| 1 | ZCTA5 22101 | $3,501 |
| 1 | ZCTA5 22213 | $3,501 |
| 1 | ZCTA5 22039 | $3,501 |
| … 270 more … | ||
| 274 | ZCTA5 24502(you are here) | $1,224 |
| … 339 more … | ||
| 614 | ZCTA5 24245 | $434 |
| 615 | ZCTA5 24225 | $388 |
| 616 | ZCTA5 24484 | $369 |
Geography
ZIP 24502 is in Lynchburg city County, Virginia.
It covers part of Lynchburg city, Virginia.
More data for ZCTA5 24502
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Frequently asked questions
What is the average rent in ZCTA5 24502, Virginia?
The median gross rent in ZCTA5 24502, Virginia (ZIP 24502) is $1,224/month, based on Census ACS 5-Year estimates (2024). Gross rent includes contract rent plus utilities. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024.
What is the average rent for a 2-bedroom in ZCTA5 24502, Virginia?
The median rent for a 2-bedroom in ZCTA5 24502, Virginia is not available based on Census ACS 5-Year estimates (2024). Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024.
What is the median home value in ZCTA5 24502, Virginia?
The median home value in ZCTA5 24502, Virginia (ZIP 24502) is $228,100 according to Census ACS 5-Year estimates (2024).
What percentage of renters in ZCTA5 24502 are rent-burdened?
In ZCTA5 24502, Virginia, 1,774 households pay 50% or more of their income for rent. A household is considered rent-burdened when it spends more than 30% of income on housing costs.
What is the median household income in ZCTA5 24502, Virginia?
The median household income in ZCTA5 24502, Virginia is $68,872/year according to Census ACS 5-Year estimates (2024).
How reliable is Census ACS data for small areas?
The ACS 5-Year estimates combine 60 months of data for more reliable figures in smaller geographies. Each estimate has a margin of error (MOE). For example, the median rent of $1,224 has a margin of error of ±$49. In very small areas, MOEs can be large relative to the estimate.
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