The story of this market
The typical home in ZIP 24501 sells for about $198,000, or $163 per square foot.
Prices are down 3.5% from a year ago, which gives buyers more room to negotiate. Homes take about 25 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $933 a month.
ZIP 24501 — Lynchburg
The 24501 housing market is characterized by a low median price point and high vacancy rates, indicating a challenging environment for investors. Market indicators suggest softness, with year-over-year price declines and a competitive landscape that requires substantial effort to achieve successful outcomes.
This ZIP is suited for investors seeking a low-basis entry point, though it requires significant effort to manage and renovate properties to achieve target returns.
Median prices moved down 3.5% year over year.
Homes spend a median of 25 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 8.0% · poverty 23.5% — a mixed stability profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 24501, Lynchburg City, Virginia
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The mean travel time to work for residents in this ZIP is approximately 18.3 minutes.
The area exhibits a high vacancy rate of 15.2%, which is above national norms.
The local economy is centered within the broader Lynchburg metropolitan area, which features a mix of education, healthcare, and manufacturing sectors.
Data retrieved from Census Reporter profile for ZCTA 24501.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.