8 Apartments under 700 for rent in Lynchburg, VA

Last updated December 12 at 8:22pm UTC
1715 Taylor St
White Rock Hill
Lynchburg, VA
Updated November 16 at 12:35pm UTC
1 Bedroom
$625
1125 Wise Street #B
Dearington
Lynchburg, VA
Updated December 7 at 11:45am UTC
2 Bedrooms
$450
850 Rivermont Ave
White Rock Hill
Lynchburg, VA
Updated November 3 at 9:37am UTC
3 Bedrooms
$695
125 Page St.
Dearington
Lynchburg, VA
Updated December 7 at 11:51am UTC
1 Bedroom
$595
Results within 1 miles of Lynchburg, VA
1150 Homestead Garden Ct
Forest
Forest, VA
Updated December 12 at 5:50pm UTC
1 Bedroom
$600
Results within 5 miles of Lynchburg, VA
980 Village Hwy
Rustburg
Rustburg, VA
Updated December 7 at 11:51am UTC
2 Bedrooms
$695
Results within 10 miles of Lynchburg, VA
7749 Wards Road
Rustburg
Rustburg, VA
Updated December 12 at 11:29am UTC
Studio
$500
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December 2017 Lynchburg Rent Report

Welcome to the December 2017 Lynchburg Rent Report. Lynchburg rents declined over the past month. In this report, we'll evaluate trends in the Lynchburg rental market, including comparisons to cities throughout the state and nation.

View full Lynchburg Rent Report
Rent Report
Lynchburg

December 2017 Lynchburg Rent Report

Welcome to the December 2017 Lynchburg Rent Report. Lynchburg rents declined over the past month. In this report, we'll evaluate trends in the Lynchburg rental market, including comparisons to cities throughout the state and nation.

Lynchburg rents declined significantly over the past month

Lynchburg rents have declined 0.4% over the past month, and have decreased slightly by 0.2% in comparison to the same time last year. Currently, median rents in Lynchburg stand at $690 for a one-bedroom apartment and $860 for a two-bedroom. This is the third straight month that the city has seen rent decreases after an increase in August. Lynchburg's year-over-year rent growth lags the state average of 1.2%, as well as the national average of 2.7%.

Rents rising across cities in Virginia

While rent decreases have been occurring in the city of Lynchburg over the past year, cities in the rest of the state are seeing the opposite trend. Rents have risen in 9 of the largest 10 cities in Virginia for which we have data. The state as a whole logged rent growth of 1.2% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Arlington is the most expensive of all Virginia's major cities, with a median two-bedroom rent of $2,010; of the 10 largest Virginia cities that we have data for, 9 have seen rents rise year-over-year, with Newport News experiencing the fastest growth (+3.0%).
  • Portsmouth, Virginia Beach, and Chesapeake have all experienced year-over-year growth above the state average (2.4%, 2.2%, and 2.2%, respectively).

Lynchburg rents more affordable than many large cities nationwide

As rents have fallen slightly in Lynchburg, many large cities nationwide have seen prices increase, in some cases substantially. Lynchburg is also more affordable than most large cities across the country.

  • Lynchburg's median two-bedroom rent of $860 is below the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the 0.2% decline in Lynchburg.
  • While rents in Lynchburg fell slightly over the past year, many cities nationwide saw increases, including Phoenix (+3.9%), Seattle (+3.5%), and Dallas (+2.4%).
  • Renters will find more reasonable prices in Lynchburg than most large cities. For example, San Francisco has a median 2BR rent of $3,050, which is more than three-and-a-half times the price in Lynchburg.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.