LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,351
Monthly Cash Flow
-$181
Principal + Equity
$1,554
Annual Total Gain
$16,480
Cash on Cash
-3.34%
Net ROI %
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Best Places to Retire in Virginia
#111out of 282 markets
Most Diverse Places to Live in Virginia
#140out of 529 markets
Places with the Lowest Cost of Living in Virginia
#92out of 524 markets
B-
Public School
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Lynchburg, VA.
In Lynchburg, VA, Short Term Rental (STR) regulations are primarily governed by the city's Zoning Ordinance. Investors looking to purchase a property for STR purposes should be aware of the following regulations:
1. Zoning Restrictions: Lynchburg has specific zoning districts where STRs are permitted. Investors should ensure that the property they are considering is located in a zoning district that allows for short term rentals.
2. Permitting Requirements: In Lynchburg, property owners must obtain a Short Term Rental Permit from the city before operating a STR. The permit application process typically involves submitting documentation such as proof of insurance, floor plans, and a site plan.
3. Occupancy Limits: Lynchburg has occupancy limits for STRs, which vary depending on the size of the property. Investors should be aware of these limits and ensure that they comply with them.
4. Safety Regulations: Lynchburg has safety regulations in place for STRs, including requirements for smoke detectors, carbon monoxide detectors, and fire extinguishers. Investors should ensure that their property meets these safety standards.
5. Taxation: Property owners operating STRs in Lynchburg are required to collect and remit lodging taxes to the city. Investors should be aware of their tax obligations and ensure that they are in compliance with local tax laws.
6. Noise Regulations: Lynchburg has noise regulations in place to ensure that STRs do not disrupt the peace and quiet of residential neighborhoods. Investors should be aware of these regulations and take steps to minimize noise disturbances.
Overall, investors looking to purchase a property for Short Term Rental purposes in Lynchburg, VA should familiarize themselves with the city's regulations and ensure that they are in compliance with all applicable laws and requirements. It is also recommended to consult with a local real estate attorney or property management company to navigate the regulatory landscape effectively.
Market Trends Over Time
Explore 25 years of market data for Lynchburg, VA, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Lynchburg, VA.
The LTR Genie Score of Lynchburg, VA is 71, indicating a moderate level of rentability for long-term rental properties. The STR Genie Score is 57, suggesting a slightly lower level of rentability for short-term rental properties. The higher LTR Genie Score can be attributed to the higher LTR Net ROI of 25.32% compared to the STR Net ROI of 26.28%. Additionally, the LTR Rent Growth Rate of 0.0541% is slightly higher than the 1-Year Price Appreciation Forecast of 2.54%, indicating potential for long-term rental investment growth in Lynchburg.
Lynchburg, VA is a growing city with a diverse economy, including healthcare, education, and manufacturing industries. The city is home to several universities and colleges, providing a steady demand for rental properties. The low STR Genie Score may be due to the slightly lower STR Occupancy rate of 53.57% and STR Revenue of $1650, indicating potential challenges for short-term rental investments in the area.
Based on the metrics provided, Lynchburg, VA appears to be a more attractive market for long-term rental investment due to the higher LTR Genie Score and Net ROI. Investors may find more stable and consistent returns with long-term rental properties in Lynchburg. However, those interested in short-term rentals should carefully evaluate the market dynamics and potential challenges before making investment decisions.
LTR Genie Score 93
$160,000
🛏 3 Beds🛁 2.0000 Baths🏙 2,290 sqft.🏠 SINGLE FAMILY
