dynamic.RE
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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already +14.9% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, +31.8% YoY, is the number to watch.
The median listing price is up 14.9% YoY while the median home got up 19.6% bigger, so value per square foot is up 16.8%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $251K purchase rents for $1,195/mo: 0.48% of price per month against the 1% rule's 1.00%.
Not shown: 6 BR (sale only, no matching rent), 8 BR (sale only, no matching rent).
Sales here take about 55 days longer to go under contract than rentals (median across 2 property types).
Not shown: Apartment (rented here, not sold), Land (sold here, not rented), Multi-Family (sold here, not rented), Townhouse (rented here, not sold).
Not shown: Townhouse (no rent per sq ft reported).
U.S. Census ACS characteristics for ZIP 24504 itself, not its parent county.
Renters hold 46.4% of this ZIP's 4,017 occupied households, on a median household income of $53K.
| Measure | ZIP 24504 | Lynchburg city | Difference |
|---|---|---|---|
| Median Household Income | $53K | $58K | -$5K |
| Below Poverty Level | 25.6% | 18.6% | +7.0% |
| Median Age | 40.80 | 28.60 | +12.20 |
| Total Population | 9,632 | 79,497 | -- |
| Avg Household Size | 2.31 | 2.39 | -0.08 |
| Owner-Occupied | 53.6% | 48.9% | +4.8% |
| Worked From Home | 12.3% | 13.9% | -1.6% |
| Mean Commute | 21.20 | 16.80 | +4.40 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is up 0.3% to 79,497: residents under 18 are up 0.5% and those 65 and over are up 1.3%.
County median household income is $58K, 18.6% of residents are below the poverty level, 13.9% work from home.