Department of Numbers

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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 2013 130.0
September 2013 129.8
June 2013 129.6
March 2013 127.9
December 2012 129.2
September 2012 129.5
June 2012 128.0
March 2012 129.0

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 2013 102.6
September 2013 102.5
June 2013 102.4
March 2013 101.0
December 2012 102.0
September 2012 102.3
June 2012 101.1
March 2012 101.9

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
February 2014 $217,642
January 2014 $214,323
December 2013 $213,568
November 2013 $218,679
October 2013 $220,511
September 2013 $212,817
August 2013 $213,568
July 2013 $215,845
June 2013 $223,705
May 2013 $238,665
April 2013 $241,351
March 2013 $237,779
February 2013 $238,961

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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