Lynchburg, VA

Very Low · 71

Virginia · Population 79,255 · Updated March 2026

$1,043
Median Rent / Month
$59,808
Median Income
$211,800
Median Home Value
$1,023
Owner Costs / Month

Affordability

How far your income goes in Lynchburg

20.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Virginia

State-level tax rates that affect your costs

5.75%
Income Tax (Top Rate)
5.3%
Sales Tax
0.8%
Property Tax Rate

Estimated Annual Costs

$12,516
Annual Rent
$3,439
State Income Tax
$1,694
Property Tax (est.)

Cost of Living Overview

Lynchburg is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 71 (where 100 equals the national median), Lynchburg residents can expect to pay median rent of $1,043/month while earning a median household income of $59,808/year.

The median home value in Lynchburg, VA is $211,800, with typical monthly owner costs around $1,023 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Virginia has a moderate income tax rate of 5.75%. Combined with a 5.3% sales tax rate and 0.8% effective property tax rate, the overall tax environment is a factor in the total cost of living in Lynchburg.

Frequently Asked Questions

Common questions about living costs in Lynchburg

What is the cost of living in Lynchburg, VA?
The cost of living index in Lynchburg, VA is 71 (US average = 100). Median monthly rent is $1,043, median household income is $59,808/year, and the median home value is $211,800.
Is Lynchburg, VA affordable?
Yes, Lynchburg is more affordable than the national average with a cost index of 71. The rent-to-income ratio is 20.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lynchburg, VA?
The median gross rent in Lynchburg, VA is $1,043 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,516.
What is the median household income in Lynchburg?
The median household income in Lynchburg, VA is $59,808 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Virginia?
Virginia has a top income tax rate of 5.75%, a sales tax of 5.3%, and an effective property tax rate of 0.8%.