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ZIP Code · VA

ZIP 24503

Pop. 20,419·Lynchburg City·194th most expensive ZIP in Virginia
Median rent (all units)
$1,200/mo
Year-over-Year
Stable
Month-over-Month
+3.3%
vs US Median
-$765
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 24503 · $1,200
More affordable than 92% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$980
1 BR
$980
2 BR
$1,130
3 BR
$1,560
4 BR+
$1,670
Research median
$1,130/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
$14,400/yr
At $1,200/mo median
Location
StateVA
CountyLynchburg City
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +3.3% MoM), not inventory.
Demographics

Who lives here

ZIP 24503 (Lynchburg, VA) is majority owner-occupied, has a large retiree population, 60.2% of residents hold a bachelor's degree or higher.

Population
20,419
Median income
$89,137
Median age
39.3
Renters
25%
Age distribution
25.9%
19.8%
20.6%
22.8%
Under 1825.9%
18–3419.8%
35–5420.6%
55–6411%
65+22.8%
Gender
46.7%
53.3%
Male46.7%
Female53.3%
Race & ethnicity
80.2%
White80.2%
Black10.8%
Hispanic3.8%
Asian0.9%
Other4.3%
Education (25+)
15.2%
21.5%
60.2%
No HS diploma3.1%
HS diploma15.2%
Some college21.5%
Bachelor's+60.2%
Housing tenure
75%
25%
Owner75%
Renter25%

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

2021 vs 2026

How ZIP 24503 in Lynchburg, VA has changed in 5 years

Income
$79,335 → $89,137
up 12.4%
Population
19,384 → 20,419
up 5.3%
Renter share
26.8% → 25%
-1.8 pts
Bachelor's+
58.2% → 60.2%
+2.0 pts
Median age
41.1 → 39.3
-1.8 yrs

Median household income grew from $79,335 to $89,137 between 2021 and 2024, a 12.4% shift. Headcount in the area went from 19,384 to 20,419 between 2021 and 2024, a 5.3% change. About 25% of households rent today, against 26.8% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 58.2% to 60.2%.

Community

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Local insights

Tips for renters in ZIP 24503

About renting in ZIP 24503

Last updated: July 20, 2026

ZIP code 24503 covers Lynchburg, VA. The median rent here is $1,200/mo as of July 2026. A 1-bedroom rents for a median of $980/mo. A 2-bedroom rents for a median of $1,130/mo.

At 16% of local median household income ($89,137/yr), ZIP 24503 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 24503?

As of July 20, 2026, the median monthly rent in ZIP 24503 (Lynchburg, VA) is $1,200. This is based on aggregated data from public sources and community submissions.

How does ZIP 24503 rent compare to the US average?

ZIP 24503's median rent of $1,200/mo is $765 (39%) below the US national median of $1,965/mo.

How does ZIP 24503 compare to other ZIPs in Virginia?

ZIP 24503 is among the more affordable ZIP codes in Virginia, ranking #194 out of 198 ZIPs at $1,200/mo.

How much income do you need to rent in ZIP 24503?

To keep rent at or below 30% of gross income, you would need to earn at least $48,000/year (~$23/hour full-time) to afford the median rent of $1,200/mo in ZIP 24503. The local median household income is $89,137/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 24503?

Rent in ZIP 24503 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 24503 an affordable place to rent?

ZIP 24503 is considered very affordable for renters. At $1,200/mo, rent takes approximately 16% of the local median household income ($89,137/yr). The standard benchmark is 30%. ZIP 24503 falls comfortably within that range.

What percentage of ZIP 24503 residents rent vs. own?

According to Census data, approximately 25% of ZIP 24503 households are renters, while 75% are owner-occupied. ZIP 24503 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 24503 compare to the rest of Lynchburg?

ZIP 24503 is more affordable than Lynchburg overall. At $1,200/mo, it's $125 below the Lynchburg citywide median of $1,325/mo.

When was rent data for ZIP 24503 last updated?

Rent data for ZIP 24503 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
16%
VERY AFFORDABLE

At $1,200/mo, rent takes ~16% of ZIP 24503's median household income ($89,137/yr). The standard benchmark is 30%.

ZIP 24503 16%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 24503 (Lynchburg, VA)

Recent submissions

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