Department of Numbers

Lynchburg City Virginia Residential Rent and Rental Statistics

The median monthly gross residential rent in Lynchburg City VA was $837 in 2017 according to the Census ACS survey.1 Average gross rent in Lynchburg City was $826 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Lynchburg City median and average rent data will be released in September of 2019.

Data is also available below for Lynchburg City rental vacancy rates, Lynchburg City rent as a percent of median income and the fraction of renters in Lynchburg City.

Show dollars as: Nominal Real

Real Gross Rent in Lynchburg City Virginia (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Virginia Median Gross Rent $1,179 +0.17% +3.15%
Lynchburg City VA Median Gross Rent $837 +13.72% +1.45%

Lynchburg City VA Real Gross Rent Trends

Median gross rent for Lynchburg City peaked in real terms in 2015 at $841 and is now $4 (0.48%) lower. Average gross rent for Lynchburg City peaked in real terms in 2015 at $884 and is now $58 (6.56%) lower.

Real Gross Rent: Lynchburg City VA Median, Lynchburg City VA Average, Virginia Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Lynchburg City

Date US
Median
Virginia
Median
Lynchburg City VA
Median
Lynchburg City VA
Average
2017 $1,012 $1,179 $837 $826
2016 $996 $1,177 $736 $783
2015 $987 $1,177 $841 $884
2014 $956 $1,143 $825 $816
2013 $924 $1,109 $775 $794
2012 $912 $1,102 $701 $720
2011 $912 $1,112 $741 $748
2010 $927 $1,104 $742 $752
2009 $931 $1,093 $733 $694
2008 $947 $1,073 $714 $748
2007 $899 $1,016 $719 $661
2006 $909 $1,008 $692 $751

Lynchburg City Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Lynchburg City Virginia was 3.53% according to Census ACS data.

Rental Vacancy Rate in Lynchburg City Virginia

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Virginia 6.45% +0.86% +0.66%
Lynchburg City VA 3.53% -5.45% -2.94%

Trends in Lynchburg City VA Rental Vacancy Rate

The rental vacancy rate in Lynchburg City peaked in 2016 at 8.98%. Since then it has fallen by 5.45% to 3.53%. Data records for this series originated in 2005.

Rental Vacancy Rate: Lynchburg City VA, Virginia, US

Rental vacancy rate in Virginia

Historical Rental Vacancy Rate data for Lynchburg City

Date US Virginia Lynchburg City VA
2017 6.18% 6.45% 3.53%
2016 5.89% 5.59% 8.98%
2015 5.85% 5.13% 6.53%
2014 6.32% 5.79% 6.47%
2013 6.49% 6.38% 3.29%
2012 6.77% 6.18%
2011 7.40% 7.54%
2010 8.17% 7.02%
2009 8.43% 7.29%
2008 7.86% 6.82%
2007 7.87% 7.11%
2006 7.70% 6.88%

Rent as a Fraction of Income

Using median household income data for Lynchburg City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lynchburg City, median monthly gross rent as a fraction of median household income was 22.20% in 2017 according to the ACS.

Lynchburg City Virginia Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Virginia 19.78% -0.64% -0.86%
Lynchburg City VA 22.20% +1.12% -1.62%

Trends in Lynchburg City VA Rent as a Fraction of Income

The fraction of median Lynchburg City household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 24.90%. Since then it has fallen by 2.70% to 22.20%.

Fraction of Income towards Rent: Lynchburg City VA, Virginia, US

Percent of median household income going towards median monthly gross rent in Lynchburg City Virginia

Historical Data for Annual Rent as a Fraction of Income in Lynchburg City Virginia

Date US Virginia Lynchburg City VA
2017 20.13% 19.78% 22.20%
2016 20.43% 20.42% 21.08%
2015 20.63% 20.72% 24.90%
2014 20.89% 20.63% 23.83%
2013 20.78% 20.80% 22.50%
2012 20.65% 20.76% 22.07%
2011 20.70% 20.59% 23.16%
2010 20.50% 20.15% 23.38%
2009 20.12% 20.00% 20.77%
2008 19.00% 18.30% 18.48%
2007 18.66% 17.97% 21.81%
2006 18.90% 18.04% 19.36%

Renter Fraction in Lynchburg City Virginia

You can calculate the renter fraction in Lynchburg City in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Lynchburg City as a fraction of total Lynchburg City households. In 2017 50.98% of households were renters according to Census ACS data.

Lynchburg City Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Virginia 33.43% -1.28% -1.24%
Lynchburg City VA 50.98% -0.11% +1.18%

Trends in the Lynchburg City VA Renter Fraction

The Lynchburg City household renter fraction peaked in in 2015 at 51.87% and is now 0.89% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Lynchburg City VA, Virginia, US

Fraction of renters in Lynchburg City

History of Lynchburg City Renter Fraction

Date US Virginia Lynchburg City VA
2017 36.13% 33.43% 50.98%
2016 36.88% 34.71% 51.09%
2015 36.97% 34.99% 51.87%
2014 36.90% 34.67% 49.80%
2013 36.50% 34.38% 50.92%
2012 36.09% 33.84% 47.81%
2011 35.42% 32.67% 46.20%
2010 34.65% 32.33% 46.73%
2009 34.13% 31.87% 38.08%
2008 33.36% 31.30% 41.89%
2007 32.80% 30.49% 41.62%
2006 32.73% 30.11% 42.19%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.