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ZIP Code · VA

ZIP 24502

Pop. 41,979·Lynchburg City·176th most expensive ZIP in Virginia
Median rent (all units)
$1,529/mo
Year-over-Year
+3.9%
Month-over-Month
+0.8%
vs US Median
-$436
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 24502 · $1,529
More affordable than 72% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,290
1 BR
$1,300
2 BR
$1,490
3 BR
$2,050
4 BR+
$2,200
Research median
$1,490/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$18,348/yr
At $1,529/mo median
Location
StateVA
CountyLynchburg City
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (3.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+3.9% YoY, +0.8% MoM), not inventory.
Demographics

Who lives here

ZIP 24502 (Lynchburg, VA) is roughly split between renters and owners, skews toward younger working-age adults, 37.9% of residents hold a bachelor's degree or higher.

Population
41,979
Median income
$68,872
Median age
32.6
Renters
47.7%
Age distribution
18.3%
35%
19.9%
15.8%
Under 1818.3%
18–3435%
35–5419.9%
55–6411.1%
65+15.8%
Gender
47.7%
52.3%
Male47.7%
Female52.3%
Race & ethnicity
69.7%
17.5%
White69.7%
Black17.5%
Hispanic6.3%
Asian2.6%
Other3.9%
Education (25+)
22.8%
31.7%
37.9%
No HS diploma7.5%
HS diploma22.8%
Some college31.7%
Bachelor's+37.9%
Housing tenure
52.3%
47.7%
Owner52.3%
Renter47.7%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 24502 in Lynchburg, VA has changed in 5 years

Rent
$1,034 → $1,529
up 47.9%
Income
$58,360 → $68,872
up 18.0%
Population
40,420 → 41,979
up 3.9%
Renter share
48% → 47.7%
-0.3 pts
Bachelor's+
40.2% → 37.9%
-2.3 pts
Median age
32.1 → 32.6
+0.5 yrs

Compared with 2021, rent in ZIP 24502 in Lynchburg, VA has increased by $495 per month, settling near $1,529 after starting the period at $1,034. Household income in the area moved from $58,360 to $68,872 across the same window, up 18.0% versus 2021. Rent outpaced income growth by roughly 29.9 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 40,420 to 41,979 between 2021 and 2024, a 3.9% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 40.2% to 37.9%. Reading these numbers side by side helps frame whether current listings in ZIP 24502 in Lynchburg, VA look reasonable against where the market sat half a decade ago.

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Local insights

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About renting in ZIP 24502

Last updated: July 20, 2026

ZIP code 24502 covers Lynchburg, VA. The median rent here is $1,529/mo as of July 2026. A 1-bedroom rents for a median of $1,300/mo. A 2-bedroom rents for a median of $1,490/mo.

At 27% of local median household income ($68,872/yr), ZIP 24502 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.9% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 24502?

As of July 20, 2026, the median monthly rent in ZIP 24502 (Lynchburg, VA) is $1,529. This is based on aggregated data from public sources and community submissions.

How does ZIP 24502 rent compare to the US average?

ZIP 24502's median rent of $1,529/mo is $436 (22%) below the US national median of $1,965/mo.

How does ZIP 24502 compare to other ZIPs in Virginia?

ZIP 24502 is among the more affordable ZIP codes in Virginia, ranking #176 out of 198 ZIPs at $1,529/mo.

How much income do you need to rent in ZIP 24502?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (~$29/hour full-time) to afford the median rent of $1,529/mo in ZIP 24502. The local median household income is $68,872/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 24502?

Rent in ZIP 24502 has increased 3.9% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 24502 an affordable place to rent?

ZIP 24502 is considered affordable for renters. At $1,529/mo, rent takes approximately 27% of the local median household income ($68,872/yr). The standard benchmark is 30%. ZIP 24502 falls comfortably within that range.

What percentage of ZIP 24502 residents rent vs. own?

According to Census data, approximately 47.7% of ZIP 24502 households are renters, while 52.3% are owner-occupied. ZIP 24502 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 24502 compare to the rest of Lynchburg?

ZIP 24502 is pricier than Lynchburg as a whole. At $1,529/mo, it's $204 above the Lynchburg citywide median of $1,325/mo.

When was rent data for ZIP 24502 last updated?

Rent data for ZIP 24502 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
27%
AFFORDABLE

At $1,529/mo, rent takes ~27% of ZIP 24502's median household income ($68,872/yr). The standard benchmark is 30%.

ZIP 24502 27%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 24502 (Lynchburg, VA)

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