Actually the metro population goes well beyond the city limits population of approximately 80k. For federal statistical purposes, the metro of Lynchburg includes the city and the 4 surrounding counties of Appomattox, Amherst, Bedford and Campbell. Here is the info in greater detail from Wiki.

The Lynchburg Metropolitan Statistical Area, also widely known within the state as Region 2000, is a United States Metropolitan Statistical Area (MSA) in Virginia, as defined by the Office of Management and Budget (OMB) as of June, 2003. As of the 2000 census, the MSA had a population of 228,616 (though a July 1, 2009 estimate placed the population at 247,447).[2] As of 2016, the Lynchburg MSA was the fifth largest in the state with a population of 260,320.

LU, unlike ODU or App St or other G5 schools, has a fragmented fan base, that goes well beyond the metro area that can coalesce. True an improved schedule with an occasional upset win propel and stimulate the interest. The potential for LU to succeed is much greater than it's likelihood to fail. Public vs. private, promo funds available, a Prez who sees the validity as an investment in the athletics dept to promote the world view of the school all are factors in LU's favor.

To those who say LU is more likely to fail have quickly forgotten LU's road to FBS. A road most said would be impossible and has become a reality.