Lynchburg, VA Cost Of Living
Cost Of Living In Lynchburg, VA Summary
Cost of living in Lynchburg research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lynchburg is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lynchburg is 88, with 100 being the average.
The cost of living index in Lynchburg is 0.9x lower than the national average.
Lynchburg ranks as the #17 cheapest in Virginia out of 186.
Lynchburg ranks as the #1,278 cheapest out of 6,412 in the US.
The median home value in Lynchburg is $169,000.
The median income in Lynchburg is $54,015.
Table Of Contents
Lynchburg's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Lynchburg, VA?
According to the most recent data on the cost of living, Lynchburg has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.
Compared to Virginia, Lynchburg has a cost of living index that's 0.9x lower than Virginia's index of 102.
The standard of living in Lynchburg ranks as #17 most affordable out of the 186 places we measured in Virginia. By definition, that implies Lynchburg ranks as the #169 most expensive place in the Old Dominion.
For more reading on life in Lynchburg, check out:
- Living In Lynchburg
- Lynchburg Crime Report
- Search Homes For Sale In Lynchburg, VA
In Virginia
In America
Lynchburg Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Lynchburg. Here is how it fairs on each of the criteria:
The Services index in Lynchburg is 96.
The Groceries index in Lynchburg is 83.
The Health index in Lynchburg is 95.
The Housing index in Lynchburg is 83.
The Transportation index in Lynchburg is 85.
The Utilities index in Lynchburg is 102.
| Living Expense | Lynchburg | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 88 | 102 | 100 | |
| Services | 96 | 102 | 100 | |
| Groceries | 83 | 98 | 100 | |
| Health | 95 | 102 | 100 | |
| Housing | 83 | 107 | 100 | |
| Transportation | 85 | 95 | 100 | |
| Utilities | 102 | 102 | 100 | |
Lynchburg, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Lynchburg is $169,000.
The Median Rent in Lynchburg is $928.
The Median Income in Lynchburg is $54,015.
The Home Value To Income in Lynchburg is 3.1x.
The Rent To Monthly Income in Lynchburg is 0.21x.
| Statistic | Lynchburg | Virginia | United States |
|---|---|---|---|
| Median Home Value | $169,000 | $295,500 | $244,900 |
| Median Rent | $928 | $1,326 | $1,163 |
| Median Income | $54,015 | $80,615 | $69,021 |
| Home Value To Income | 3.1x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.21x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Lynchburg, VA Costs By Category
Detailed Lynchburg Services Costs Vs. Virginia
Detailed Lynchburg Groceries Costs Vs. Virginia
Detailed Lynchburg Health Costs Vs. Virginia
Detailed Lynchburg Transportation Costs Vs. Virginia
Detailed Lynchburg Utilities Costs Vs. Virginia
Lynchburg SnackAbility
/10
Cost Of Living In Cities Around Lynchburg
The cost of living varies in the cities and towns around Lynchburg. Here's a quick look at the cost of living in the most populous nearby places:
Salem, VA has a cost of living index of 93, 1.1x Lynchburg.
Cave Spring, VA has a cost of living index of 98, 1.1x Lynchburg.
Waynesboro, VA has a cost of living index of 96, 1.1x Lynchburg.
| City | Population | Cost Of Living | Vs. Lynchburg |
|---|---|---|---|
| Salem, VA | 25,335 | 93 | 1.1x |
| Cave Spring, VA | 25,248 | 98 | 1.1x |
| Waynesboro, VA | 22,149 | 96 | 1.1x |
| Hollins, VA | 15,857 | 92 | 1.0x |
| Timberlake, VA | 12,972 | 93 | 1.1x |
| Stuarts Draft, VA | 11,954 | 95 | 1.1x |
| Forest, VA | 11,045 | 98 | 1.1x |
| Madison Heights, VA | 10,790 | 86 | 1.0x |
| Vinton, VA | 8,039 | 85 | 1.0x |
| Lexington, VA | 7,287 | 102 | 1.2x |
