Department of Numbers

Lynchburg, Virginia Home Affordability

The data below measures home affordability for the Lynchburg, Virginia metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Lynchburg home affordability to other cities.

Lynchburg, Virginia Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Lynchburg HPI series. Median household income data for Lynchburg is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lynchburg, Virginia Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 138.5
September 2011 136.1
June 2011 135.4
March 2011 138.4
December 2010 140.9
September 2010 141.2
June 2010 140.6
March 2010 140.8
December 2009 132.8

Lynchburg, Virginia Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Lynchburg median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Lynchburg, Virginia Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 112.9
September 2011 110.9
June 2011 110.4
March 2011 112.8
December 2010 114.8
September 2010 115.1
June 2010 114.6
March 2010 114.8
December 2009 120.5

Lynchburg, Virginia Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Lynchburg, Virginia and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Lynchburg, Virginia Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $218,098
December 2011 $217,043
November 2011 $216,257
October 2011 $214,182
September 2011 $213,155
August 2011 $209,121
July 2011 $202,330
June 2011 $203,280
May 2011 $200,218
April 2011 $195,641
March 2011 $195,641
February 2011 $193,191
January 2011 $197,453

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data. ↩

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