ZIP 24501 - 860Z200US24501 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 24501, located in the Lynchburg area of Virginia, this demographic and housing snapshot offers a clear picture of the community. With data from 2023, we’ll break down key metrics like population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into what makes ZIP 24501 unique and how its characteristics can align with your goals.

Population & Households

ZIP 24501 is home to a population of 26,393 residents, making it a moderately sized community with a mix of urban and suburban vibes. These individuals are distributed across 9,986 households, reflecting a diverse range of family structures and living arrangements. The total number of housing units stands at 12,157, indicating some vacancy or availability for potential buyers or renters looking to settle in the area. This balance of population and housing suggests a stable community with room for growth, ideal for those seeking a foothold in a dynamic region.

Income & Housing Costs

The median household income in ZIP 24501 is $45,305, which positions the area as a working-class community with accessible living costs compared to national averages. For homebuyers and investors, the median house value of $155,800 offers an affordable entry point into the real estate market, particularly for first-time buyers or those looking for value-driven investments. Renters will find the median rent of $936 per month reasonable, providing options for those not yet ready to purchase. These figures highlight ZIP 24501 as a cost-effective location for establishing roots or building a portfolio.

Race & Ethnicity

The demographic makeup of ZIP 24501 reflects a diverse yet predominantly white and black community. White residents account for 57.71% of the population, while Black residents make up 33.8%. Hispanic individuals represent 3.32%, and Asian residents comprise 0.88%. This racial composition points to a culturally varied environment, which can be a draw for businesses aiming to serve a broad customer base or for families seeking a community with diverse perspectives. Understanding this mix is key for tailoring services, marketing, or community engagement strategies.

Key Facts

• Total population: 26,393 residents in ZIP 24501 as of 2023.
• Total households: 9,986, supporting a range of family and individual lifestyles.
• Total housing units: 12,157, with potential availability for new occupants.
• Median household income: $45,305, reflecting a working-class economic base.
• Median house value: $155,800, an affordable option for buyers and investors.
• Median rent: $936 per month, offering reasonable costs for renters.
• Racial diversity: Predominantly white (57.71%) and black (33.8%), with smaller Hispanic (3.32%) and Asian (0.88%) populations.

What This Means for You

For homebuyers, ZIP 24501 presents an affordable opportunity to own a home with a median value of $155,800, well below many national markets. The reasonable median rent of $936 also makes it a viable option if you’re not ready to buy. Real estate investors and agents can capitalize on the area’s housing stock of 12,157 units, where vacancies suggest potential for rental properties or flips, especially given the lower entry costs. Small-business owners will appreciate the diverse population of 26,393 and the working-class income levels, which indicate a market for budget-friendly goods and services. Finally, analysts can use this data to identify trends in affordable housing markets or demographic shifts, positioning ZIP 24501 as a case study for growth potential. Whether you’re settling down, investing, or launching a venture, this area offers practical advantages tailored to your needs.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 24501? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing, and more, customized to your interests.
• Use the insights to make data-driven decisions for your next home purchase, investment, or business strategy.