The story of this market
The typical home in ZIP 24551 sells for about $425,000, or $215 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 32 days to sell. HUD's fair market rent for a two-bedroom is $1,265 a month.
ZIP 24551 — Forest
The housing market in 24551 remains stable with moderate price appreciation and consistent demand for single-family homes. While sales volume has seen a slight cooling compared to previous years, the area's strong school ratings and suburban appeal continue to attract family buyers, keeping inventory levels relatively tight.
This ZIP is ideal for families and professionals seeking a suburban lifestyle with high-quality schools and a quieter environment, while remaining within a reasonable commute to Lynchburg's major employers.
Median prices moved up 2.1% year over year.
Homes spend a median of 32 days on market with 3.8 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.6% · poverty 8.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 24551, Bedford County VA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the Forest area are generally low, consistently ranking below both state and national averages for violent and property crime.
The area is served by the Bedford County Public Schools system, which is generally well-regarded with several schools in the vicinity maintaining high performance ratings.
The region faces moderate risk from severe thunderstorms and occasional high winds, with localized flood risks primarily confined to low-lying areas near creeks.
Economic momentum is driven by proximity to Lynchburg's healthcare and education sectors, with steady residential development and infrastructure improvements along the Route 221 corridor.
Property taxes are assessed by Bedford County based on fair market value; the jurisdiction maintains a relatively stable tax rate structure with no additional municipal property taxes for unincorporated Forest.
Residents primarily commute via Route 221 into Lynchburg, with typical drive times to the city's employment core ranging from 15 to 25 minutes.
The area offers access to local parks, golf courses like Poplar Grove, and proximity to the Blue Ridge Mountains, providing extensive hiking and outdoor recreation opportunities.
The rental market is characterized by low vacancy rates and consistent demand, with a mix of long-term residential rentals and limited short-term vacation rental presence.
The local economy is anchored by the Lynchburg metro area, with major sectors including healthcare (Centra Health), education (Liberty University), and nuclear technology (Framatome).
Transportation is primarily automobile-dependent, with Route 221 serving as the main arterial road connecting the community to the broader Lynchburg region.
Development is focused on infill residential projects and expansion of retail services along the main highway corridors.
Parcels are subject to Bedford County property taxes and school district levies; no major MUDs or PIDs are prevalent.
Property insurance premiums are stable, with standard coverage for wind and fire; flood insurance is required only for properties in designated floodplains.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A premier championship golf course designed by Sam Snead.
A major historical landmark and museum serving as a significant cultural anchor.
Provides community sports facilities and green space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.