How much is a home worth in ZIP code 24503?

The typical home in 24503 is worth $372,846, based on the Zillow Home Value Index.

Are home values rising in 24503?

Home values in 24503 are up 2.3% over the past year, and up 5.4% a year over five years.

What is the typical rent in 24503?

A typical home in 24503 rents for about $1,353 a month, a gross rental yield of 4.4%.

What is the property tax rate in 24503?

The effective property tax rate in 24503 is 0.6% — roughly $2,416 a year on a typical home.

ZIP code 24503 has a population of 20,419 and a median household income of $89,137.

HousingHandbookReference data

…

U.S. ZIP Code · VA24503

Bedford County · Lynchburg, VA

Typical home value

$372,846^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.3%
5-year / yr: +5.4%
10-year / yr: +5.4%

Relative price

vs U.S.: +31.3%
vs metro: +32.2%
vs state: +13.6%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 24503 is worth $372,846 — 32.2% above the Lynchburg, VA median. Over the past year, values have risen 2.3%. Homes here rent for a typical $1,353 a month — a 4.4% gross rental yield. The effective property tax rate is 0.6%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,353^[2]
Gross yield: 4.4%^[2]
Cap rate: 2.6%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.6%^[3]
Typical annual tax: $2,416^[3]

#Climate risk

FEMA National Risk Index ratings for Bedford County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Low
Coastal flood: Not Applicable
Wildfire: Relatively Low
Drought: Relatively Moderate
Heat wave: Very Low
Hurricane: Relatively Low
Tornado: Very Low
Earthquake: Relatively Low
Winter weather: Relatively Low

#Who lives here

Population: 20,419^[3]
Median household income: $89,137^[3]

#Migration

Household moves in and out of Bedford County over a year, from IRS tax-return data.

Net migration: +162^[5]
Moved in: 2,495
Moved out: 2,333

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 5
Elementary: 4
Middle: 1
High: 0

Linkhorne Middle
Middle · Grades 6–8 · Lynchburg City Public Schools
566 students
Bedford Hills Elementary
Elementary · Grades PK–5 · Lynchburg City Public Schools
412 students
Linkhorne Elementary
Elementary · Grades PK–5 · Lynchburg City Public Schools
378 students
Paul Munro Elementary
Elementary · Grades PK–5 · Lynchburg City Public Schools
344 students
Boonsboro Elementary
Elementary · Grades PK–5 · Bedford County Public Schools
321 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.4%

Net yield (after ~40% expenses)2.6%

Annual rent$16,241

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,885

Loan principal$298,277

Down payment$74,569

Total interest paid$380,436

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.77

Monthly cost to own$2,398

Monthly rent$1,353

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 26th percentile^[1]
Rental yield: 17th percentile^[2]
Property tax: 93rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 24503?: The typical home in 24503 is worth $372,846, based on the Zillow Home Value Index.
Are home values rising in 24503?: Home values in 24503 are up 2.3% over the past year, and up 5.4% a year over five years.
What is the typical rent in 24503?: A typical home in 24503 rents for about $1,353 a month, a gross rental yield of 4.4%.
What is the property tax rate in 24503?: The effective property tax rate in 24503 is 0.6% — roughly $2,416 a year on a typical home.
Who lives in 24503?: ZIP code 24503 has a population of 20,419 and a median household income of $89,137.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

24556 vs 24503 →
VA
Typical home
$417,643
Gross yield
—
24551 vs 24503 →
Forest CDP, VA
Typical home
$427,279
Gross yield
4.1%
24095
Stewartsville CDP, VA
Typical home
$315,572
Gross yield
—
24593
Concord CDP, VA
Typical home
$314,996
Gross yield
—
24064
Blue Ridge CDP, VA
Typical home
$314,454
Gross yield
—
24521
Amherst, VA
Typical home
$294,663
Gross yield
—

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#Jump to section

U.S. ZIP Code · VA24503

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