Much like its surrounding areas, it's a little less expensive compared to the entire country. However compared to the city of Roanoke, it is a little more expensive.
Home prices
The median home in Lynchburg costs $160,100. In comparison to its nearby areas it is is very similar.In comparison to the rest of the country it is roughly $57,400 (26%) lower, and compared to the city of Roanoke it is roughly $25,000 (18%) higher.
Rents
Lynchburg's median monthly rent is $857. Compared to its nearby areas this is approximately $48 (5%) higher.It is approximately $205 (19%) lower in comparison to the entire country, and is roughly $43 (5%) higher compared to the city of Roanoke.
Nearby places
Forest
Forest is Lynchburg's neighbor to the southwest. Its real estate prices are a little more expensive. The median home cost in Forest is $234,500, which works out to $74,400 (31%) higher than Lynchburg. Rents there are somewhat more expensive. The median monthly rent in Forest is $988, which comes out to $131 (13%) higher than Lynchburg.
Madison Heights
Madison Heights is Lynchburg's neighbor to the northeast. Real estate prices there are a bit less expensive. Madison Heights's median home value is $138,400, which works out to $21,700 (15%) lower than Lynchburg. Rent there is somewhat less expensive. The median rent in Madison Heights is $690 a month, which comes out to $167 (24%) lower than Lynchburg.
Timberlake
Timberlake is Lynchburg's neighbor to the southwest. The housing prices there are a bit more expensive. Timberlake's median home cost is $184,700, which is $24,600 (13%) higher than Lynchburg. The rent there is somewhat more expensive. In Timberlake the median rent is $909 per month, which is $52 (5%) higher than Lynchburg.
Rustburg
Rustburg is approximately 10 miles southeast from Lynchburg. Its real estate prices are significantly less expensive. The value of the median home in Rustburg is $121,000, which is $39,100 (32%) lower than Lynchburg. The rent there is significantly less expensive. The median monthly rent in Rustburg is $647, which is $210 (32%) lower than Lynchburg.
Concord
Concord is roughly 10 miles southeast from Lynchburg. The housing prices there are substantially less expensive. The median home value in Concord is $120,500, which is $39,600 (32%) lower than Lynchburg. Its rents are a bit less expensive. In Concord the median monthly rent is $813, which comes out to $44 (5%) lower than Lynchburg.
