ZIP 24502 — Economy & Jobs

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Income, employment, industries, and economic trends

Income & Economy in Lynchburg city, VA (24502)

Median Income

$66,027

*Adjusted for inflation (2023 dollars)

IRS Net Migration

+2,331

Wealth inflow

Population

41,314

Unemployment

3.3%

0.4pp below US avg

IRS migration statistics show a net inflow of about 2,331 for ZIP 24502 (Lynchburg city, VA) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.

Economic Indicators

Unemployment

3.3%-10% vs US avg

Self-Employed

2.7%-56% vs US avg

SNAP Benefits

7.2%-39% vs US avg

1,329

Establishments

21,127

Employees

~16 per establishment — small businesses dominate

Education

Top Industry

Economic Distributions

Census ACS 5-Year (P0): occupation, industry, household income brackets.

Occupation

Industry

Agriculture, forestry, mining0.5%
Construction4.2%
Manufacturing12.1%
Wholesale trade0.9%
Retail trade9.8%
Transportation, utilities3.3%
Information1.9%
Finance, insurance, real estate4.7%
Professional, scientific, management9.7%
Education, health care, social33.7%
Arts, entertainment, food services9.8%
Other services6.3%
Public administration3.1%

Household Income

Historical Trends in 24502 (2020–Present)

Since 2020, population declined 9.1%, median income rose 6.3% (inflation-adjusted), home values increased 7.6%.

Median Income

$66,027

-12% vs US avg

Unemployment Rate