Low-cost, high-quality living.

National data reveals that the Bedford County region comparably offers a low cost of living. Our cost of living index value is 84.1 compared to the national average of 100, as tracked by the U.S. Chamber of Commerce’s ACCRA study. Our region has one of the lowest cost of living composite indexes in Virginia. This study tracks food prices, housing costs, transportation costs and utilities. According to the data, costs here are much lower than the majority of metros across the U.S.

  • Food, housing and healthcare costs well below the national average
  • Property tax rates approximately 30% below the national average
  • Auto insurance rates 20% below the national average
  • Overall unemployment rate tracks well below the national average.
  • Extremely high air quality and water quality indexes
  • The housing market has remained stable during economic downturns.

Lynchburg MSA Regional Overview

Population – 260,668

Average Annual Income – $44,592

Median Home Price – $171,972

Unemployment Rate – 4.5% (Nov. 2020)

Cost of Living – 11.4% below national average

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