24551 ZIP Code Profile, Map, Data & Demographics

ZIP Code Type: STANDARD
County: Bedford County
Centroid: Latitude 37.355, Longitude -79.283
Time Zone: Eastern Time Zone (UTC -5 hours)
Observes DST: Yes

ZIP Code 24551 has segments in 3 Counties / Independent Cities (Bedford, Campbell, Lynchburg City).

Businesses Addresses: 877
PO Box Addresses: 287
Residential Addresses: 11,175

Multi-Family Addresses: 755
Single Family Addresses: 10,420

The ZIP Code maps and database are updated 4 times per year.
Database updated: June 1, 2024, Maps updated: May 1, 2024.

Forest, VA 24551 Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	27,148 (100%)
Population in Households	27,060 (99.7%)
Population in Families	23,105 (85.1%)
Population in Group Quarters¹	88 ( 0.3%)
Population Density	376
Diversity Index²	36


INCOME
Median Household Income	$91,280
Average Household Income	$122,242
% of Income for Mortgage⁴	26%
Per Capita Income	$47,685
Wealth Index⁵	130
Socioeconomic Status Index⁶	Moderate (61.2)

HOUSING
Total HU (Housing Units)	11,086 (100%)
Owner Occupied HU	8,270 (74.6%)
Renter Occupied HU	2,319 (20.9%)
Vacant Housing Units	497 ( 4.5%)
Median Home Value	$379,777
Average Home Value	$456,019
Housing Affordability Index³	100

HOUSEHOLDS
Total Households	10,589
Average Household Size	2.56
Family Households	7,547
Average Family Size	3.00

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.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Forest, VA 24551 - Peer Comparisons by Rank and Percentile

The table below compares 24551 to the other 871 ZIP Codes in Virginia by rank and percentile using July 1, 2024 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	2020-2024	2024-2029
Population	1.32%	0.77%
Households	1.61%	1.07%
Families		0.87%
Median Household Income		2.25%
Per Capita Income		2.97%
Owner Occupied HU		1.35%

Variable Description	Rank	Percentile
Total Population	# 126	86th
Population Density	# 236	73rd
Median Household Income	# 234	73rd
Housing Affordability Index	# 539	62nd
Per Capita Income	# 232	73rd
Diversity Index	# 572	35th

24551 ZIP Code Profile, Map, Data & Demographics

ZIP Code 24551: Basic Data & USPS Preferred City Name

Forest, VA 24551 Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Forest, VA 24551 - Peer Comparisons by Rank and Percentile

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