Key Economic Benchmarks
Median Household Income
$57,947$4,829 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Lynchburg, VA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Lynchburg, VA
Official FY2026 HUD Fair Market Rents for Lynchburg, VA MSA. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $1,027 | $12,324 | $41,080 | 21.3% |
| 1-Bedroom Apartment | $1,033 | $12,396 | $41,320 | 21.4% |
| 2-Bedroom ApartmentBenchmark | $1,187 | $14,244 | $47,480 | 24.6% |
| 3-Bedroom Home | $1,635 | $19,620 | $65,400 | 33.9% |
| 4-Bedroom Home | $1,750 | $21,000 | $70,000 | 36.2% |
50/30/20 Living Budget in Lynchburg, VA
Based on the local median household income of $57,947/year ($4,829/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Virginia
Explore net income after federal income tax, FICA, and Virginia state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Virginia with official federal datasets:
Frequently Asked Questions About Living in Lynchburg, VA
What is the median household income in Lynchburg, VA?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Lynchburg, VA is $57,947 per year (approximately $4,829 per month).
What is the average rent in Lynchburg, VA?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Lynchburg, VA are $1,027 for a studio, $1,033 for 1 bedroom, $1,187 for 2 bedrooms, $1,635 for 3 bedrooms, and $1,750 for 4 bedrooms.
How does the cost of living in Lynchburg, VA compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Lynchburg, VA is 89.4 (10.6% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Lynchburg, VA?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,187/month) in Lynchburg, VA requires a minimum gross household income of $47,480 per year ($3,957 per month).
What is a balanced 50/30/20 monthly budget in Lynchburg, VA?
For a typical household earning the median income of $57,947/year ($4,829/month) in Lynchburg, VA, a balanced 50/30/20 budget allocates $2,414/month to essential needs (rent, utilities, groceries), $1,449/month to discretionary spending, and $966/month to savings and debt repayment.
What are typical electricity and utility costs in Lynchburg, VA?
Residential electricity rates in Virginia average 17.2¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $155 per month.