Lynchburg City Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Lynchburg City VA was $886 in 2019 according to the Census ACS survey.1 Average gross rent in Lynchburg City was $919 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Lynchburg City median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Lynchburg City Virginia (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Virginia Median Gross Rent | $1,254 | +1.37% | +3.29% |
| Lynchburg City VA Median Gross Rent | $886 | +7.26% | +16.73% |
Lynchburg City VA Real Gross Rent Trends
At $886, real median gross rent in Lynchburg City was at its highest level in 2019 since the series began in 2005. At $919, real average gross rent in Lynchburg City was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Lynchburg City VA Median, Lynchburg City VA Average, Virginia Median, US Median
Real Gross Rent History for Lynchburg City
| Date | US Median |
Virginia Median |
Lynchburg City VA Median |
Lynchburg City VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $886 | $919 |
| 2018 | $1,077 | $1,237 | $826 | $827 |
| 2017 | $1,043 | $1,216 | $863 | $852 |
| 2016 | $1,027 | $1,214 | $759 | $807 |
| 2015 | $1,017 | $1,214 | $867 | $911 |
| 2014 | $986 | $1,178 | $851 | $841 |
| 2013 | $953 | $1,144 | $799 | $818 |
| 2012 | $940 | $1,136 | $722 | $743 |
| 2011 | $941 | $1,147 | $764 | $771 |
| 2010 | $955 | $1,139 | $765 | $775 |
| 2009 | $960 | $1,127 | $756 | $716 |
| 2007 | $927 | $1,048 | $741 | $681 |
| 2005 | $910 | $1,015 | $626 | $629 |
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
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Virginia | 5.53% | +0.36% | -0.06% |
| Lynchburg City VA | — | — | — |
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
Historical Rental Vacancy Rate data for Lynchburg City
| Date | US | Virginia | Lynchburg City VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | — |
| 2018 | 6.15% | 5.17% | — |
| 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% | — |
| 2007 | 7.87% | 7.11% | — |
| 2005 | 7.74% | 7.20% | — |
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 19.38% in 2019 according to the ACS.
Lynchburg City Virginia Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Virginia | 19.68% | -0.41% | -0.74% |
| Lynchburg City VA | 19.38% | -3.58% | -1.70% |
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 5.52% to 19.38%.
Fraction of Income towards Rent: Lynchburg City VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Lynchburg City Virginia
| Date | US | Virginia | Lynchburg City VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 19.38% |
| 2018 | 20.50% | 20.09% | 22.96% |
| 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% |
| 2007 | 18.66% | 17.97% | 21.81% |
| 2005 | 18.89% | 17.96% | 16.82% |
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 2019 52.53% of households were renters according to Census ACS data.
Lynchburg City Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Virginia | 33.87% | -0.21% | -0.84% |
| Lynchburg City VA | 52.53% | +0.55% | +1.44% |
Trends in the Lynchburg City VA Renter Fraction
At 52.53%, the 2019 household based renter fraction in Lynchburg City was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Lynchburg City VA, Virginia, US
History of Lynchburg City Renter Fraction
| Date | US | Virginia | Lynchburg City VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 52.53% |
| 2018 | 36.05% | 34.08% | 51.98% |
| 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% |
| 2007 | 32.80% | 30.49% | 41.62% |
| 2005 | 33.10% | 30.36% | 37.03% |
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. ↩
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