22503 ZIP Code Demographics & Rankings

ZIP Code Type: STANDARD
County: Lancaster County
Centroid: Latitude 37.764, Longitude -76.498
Time Zone: Eastern Time Zone (UTC -5 hours)
Observes DST: Yes

ZIP Code 22503 has segments in 2 Counties / Independent Cities (Lancaster, Northumberland).

Businesses Addresses: 77
PO Box Addresses: 164
Residential Addresses: 1,964

Multi-Family Addresses: 1
Single Family Addresses: 1,963

The ZIP Code maps and database are updated 4 times per year.
Database updated: July 1, 2020, Maps updated: August 4, 2020.

Lancaster, VA 22503 Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	4,837 (100%)
Population in Households	4,802 (99.3%)
Population in Families	3,869 (80.0%)
Population in Group Quarters¹	35 ( 0.7%)
Population Density	51
Diversity Index²	54


INCOME
Median Household Income	$54,336
Average Household Income	$74,727
% of Income for Mortgage⁴	18%
Per Capita Income	$33,132
Wealth Index⁵	99

HOUSING
Total HU (Housing Units)	3,231 (100%)
Owner Occupied HU	1,744 (54.0%)
Renter Occupied HU	400 (12.4%)
Vacant Housing Units	1,087 (33.6%)
Median Home Value	$231,884
Average Home Value	$320,872
Housing Affordability Index³	144

HOUSEHOLDS
Total Households	2,144
Average Household Size	2.24
Family Households	1,433
Average Family Size	3

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

Lancaster, VA 22503 - Peer Comparisons by Rank and Percentile

The table below compares 22503 to the other 865 ZIP Codes in Virginia by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	0.64%	0.43%
Households	0.63%	0.43%
Families	0.48%	0.32%
Median Household Income		1.16%
Per Capita Income		1.6%
Owner Occupied HU		0.38%

Variable Description	Rank	Percentile
Total Population	# 369	57th
Population Density	# 562	35th
Median Household Income	# 447	48th
Housing Affordability Index	# 243	28th
Per Capita Income	# 303	65th
Diversity Index	# 258	70th

Lancaster, VA 22503 ZIP Code Profile

ZIP Code 22503: Basic Data & USPS Preferred City Name

Lancaster, VA 22503 Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Lancaster, VA 22503 - Peer Comparisons by Rank and Percentile

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