24503 ZIP Code Demographics & Rankings

ZIP Code Type: STANDARD
County: Lynchburg City County
Centroid: Latitude 37.435, Longitude -79.201
Time Zone: Eastern Time Zone (UTC -5 hours)
Observes DST: Yes

ZIP Code 24503 has segments in 2 Counties / Independent Cities (Bedford, Lynchburg City).

Businesses Addresses: 350
PO Box Addresses: 148
Residential Addresses: 8,447

Multi-Family Addresses: 949
Single Family Addresses: 7,498

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

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Lynchburg, VA 24503 Data & Demographics (As of July 1, 2019)

HOUSING AFFORDABILITY INDEX
Lynchburg, VA 24503 Housing Affordability Index is 122 State of Virginia Housing Affordability Index is 126
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.

WEALTH INDEX
Lynchburg, VA 24503 Wealth Index is 139 State of Virginia Wealth Index is 124
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.

These new demographic attributes are availiable for Neighborhoods, Cities, Counties / Independent Cities, and ZIP Codes.

POPULATION
Total Population	20,680 (100%)
Population in Households	20,052 (97.0%)
Population in Families	16,253 (78.6%)
Population in Group Quarters¹	628 ( 3.0%)
Population Density	570
Diversity Index²	35

INCOME
Median Household Income	$70,021
Average Household Income	$97,010
Per Capita Income	$39,459
Wealth Index⁴	139

HOUSING
Total Housing Units	9,078 (100%)
Owner Occupied HU	5,764 (63.5%)
Renter Occupied HU	2,634 (29.0%)
Vacant Housing Units	680 ( 7.5%)
Median Home Value	$294,338
Housing Affordability Index³	122

HOUSEHOLDS
Total Households	8,398
Average Household Size	2.39
Family Households	5,507
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 race 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 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.

Lynchburg, VA 24503 - Peer Comparisons by Rank and Percentile

The table below compares 24503 to the other 880 ZIP Codes in Virginia by rank and percentile using July 1, 2019 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	2010-2019	2019-2024
Population	0.58%	0.32%
Households	0.45%	0.25%
Families	0.36%	0.2%
Median Household Income		1.74%
Per Capita Income		2.13%

Variable Description	Rank	Percentile
Total Population	# 152	83rd
Population Density	# 198	78th
Diversity Index	# 500	43rd
Median Household Income	# 234	74th
Per Capita Income	# 189	79th

Lynchburg, VA 24503 ZIP Code Profile

ZIP Code 24503: Basic Data & USPS Preferred City Name

Popular Places Near ZIP Code 24503

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Lynchburg, VA 24503 Data & Demographics (As of July 1, 2019)

HOUSING AFFORDABILITY INDEX

WEALTH INDEX

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Lynchburg, VA 24503 - Peer Comparisons by Rank and Percentile

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