Housing market/Virginia/ZIP 24502
ZIP 24502 Lynchburg, Virginia
Lynchburg, VA MSA · Virginia. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
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HUD schedule, ACS stock, and the 90–110% band for ZIP 24502 · VA — sent to you.
ZIP 24502 · VA
ACS rent vs 2BR SAFMR
ZIP 24502 — Lynchburg, VA HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 24502
- 1-unit detached10,24055.1%
- 1-unit attached1,4567.8%
- 2–4 units1,7139.2%
- 5–49 units4,03121.7%
- 50+ units7043.8%
- Mobile4322.3%
2–4 unit share 9.2% · 5–49 unit share 21.7% · combined 2–49 30.9%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,166 (all bedrooms, occupied rentals).
- Median contract rent $976.
- Renters paying ≥30% of income 41.8%; ≥50% 21.9%.
- FY2027 2BR SAFMR $1,390 (1.192× ACS median gross rent).
Population
41,314 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: -9.0%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 6 projects, 659 units.
- HUD project-based assisted MF: 2 properties, 213 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 45 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 24502 46.3% of occupied households are renters; vacancy is 12.0%; ACS median gross rent is $1,166; population changed -9.0% between the 2018 and 2023 ACS vintages; the housing stock includes 1,713 units in 2–4-unit structures and 4,031 units in 5–49-unit structures; 6 LIHTC projects totaling 659 units; FY2027 2BR SAFMR is $1,390 versus ACS median gross rent of $1,166. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
Virginia research
ZIP 24502 is a Census / HUD profile for Lynchburg, VA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 24502 — Lynchburg, VA HUD Section 8 Payment Standards / SAFMR·Virginia ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Virginia research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 24502?
ZIP 24502 (Lynchburg, VA MSA) has 41,314 residents, 16,352 households, a renter share of 46.3%, median household income of $66,027, and ACS 2023 median gross rent of $1,166. Vacancy is 12.0%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 24502?
ACS counts 865 units in 2-unit buildings, 848 in 3–4 unit buildings, 1,579 in 5–9, 1,496 in 10–19, and 956 in 20–49. Combined 2–49 unit stock is 5,744 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 24502?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,390. See the full schedule and 90–110% payment-standard band on the ZIP 24502 — Lynchburg, VA HUD Section 8 Payment Standards / SAFMR.
Does this Virginia ZIP profile include Georgia listings?
No. ZIP 24502 is Census / HUD research for Lynchburg, VA MSA. Jeff Crowe CRE does not list Virginia property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.