ZIP Code · VA

ZIP 24504

Part of Lynchburg, VA

Pop. 9,632·Lynchburg City·191st most expensive ZIP in Virginia

Median rent (all units)

$1,151/mo

Year-over-Year

+6.1%

Month-over-Month

+1.2%

vs US Median

-$781

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 24504 · $1,151

More affordable than 94% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,090

1 BR

$1,100

2 BR

$1,260

3 BR

$1,740

4 BR+

$1,860

Research median

$1,260/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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 24504 is at its highest level since Zillow's records here began in May 2023.

Past year vs. the rest of Virginia

Rent in ZIP 24504 changed +6.1% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($52,571) is $1,314 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,260); a 3-bedroom is $1,740.

Rank in Lynchburg

1st cheapest of 4 ZIP codes in Lynchburg.

Cheaper nearby

ZIP 24572, 7 miles away, rents for 14% less ($989/mo), about $1,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 24504. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$13,812/yr

At $1,151/mo median

Location

CityLynchburg

StateVA

CountyLynchburg City

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.1% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.1% YoY, +1.2% MoM), not inventory.

Demographics

Who lives here

ZIP 24504 (Lynchburg, VA) is roughly split between renters and owners, has a median income below the national average, 24.4% of residents hold a bachelor's degree or higher.

Population

9,632

Median income

$52,571

Median age

40.8

Renters

46.4%

Age distribution

21.4%

22.2%

23.7%

14.2%

18.5%

Under 1821.4%

18–3422.2%

35–5423.7%

55–6414.2%

65+18.5%

Gender

50.7%

49.3%

Male50.7%

Female49.3%

Race & ethnicity

48.6%

42.6%

White48.6%

Black42.6%

Hispanic3.9%

Other4.7%

Education (25+)

29.5%

34.7%

24.4%

No HS diploma11.4%

HS diploma29.5%

Some college34.7%

Bachelor's+24.4%

Housing tenure

53.6%

46.4%

Owner53.6%

Renter46.4%

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

2021 vs 2026

How ZIP 24504 in Lynchburg, VA has changed in 5 years

Income

$44,486 → $52,571

up 18.2%

Population

9,814 → 9,632

down 1.9%

Renter share

44.4% → 46.4%

+2.0 pts

Bachelor's+

22.3% → 24.4%

+2.1 pts

Median age

37.6 → 40.8

+3.2 yrs

Local incomes tracked alongside that move, going from a median of $44,486 in 2021 to $52,571 more recently. Census counts show ZIP 24504 in Lynchburg, VA losing about 182 residents over the five-year window, down 1.9% on net. The renter share has risen from 44.4% to 46.4%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 22.3% to 24.4% across the same window.

Community

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Local insights

Tips for renters in ZIP 24504

About renting in ZIP 24504

Last updated: October 17, 2026

ZIP code 24504 covers Lynchburg, VA. The median rent here is $1,151/mo as of October 2026. A 1-bedroom rents for a median of $1,100/mo. A 2-bedroom rents for a median of $1,260/mo.

At 26% of local median household income ($52,571/yr), ZIP 24504 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 24504?

To keep rent at or below 30% of gross income, you would need to earn at least $46,000/year (about $22/hour full-time) to afford the median rent of $1,151/mo in ZIP 24504. The local median household income is $52,571/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 24504?

Rent in ZIP 24504 has risen 6.1% over the past year as of September 2026. That is the highest level since Zillow's records here began in May 2023.

How does ZIP 24504 compare to other ZIPs in Virginia?

ZIP 24504 is one of the more affordable among Virginia ZIP codes for rent, ranking #191 of 194 at $1,151/mo. Over the year to September 2026, rent in ZIP 24504 changed +6.1%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.