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These days, finding an affordable place to live in the Roanoke area can be challenging. Home prices in Roanoke are now at a median cost of $144,315, lower than the Alabama average of $228,911.
The average cost of rent is $604/mo in Roanoke, primarily driven by the current value of real estate in the Roanoke area. In Roanoke, 26.91% of households rent, and 69.67% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Roanoke is $4,237 per month. Households that rent pay about 14.25% of their income on rent here. Roanoke’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Moores Crossroads, AL: equally priced homes
- Taylors Crossroads, AL: higher priced homes
- Rock Mills, AL: less expensive homes
- Bacon Level, AL: equally priced homes
- Peavy, AL: higher priced homes
- Pooles Crossroad, AL: higher priced homes
- Stroud, AL: higher priced homes
- Wehadkee, AL: equally priced homes
- Cornhouse, AL: higher priced homes
- Standing Rock, AL: equally priced homes
Cities with Similar Populations
- Putnam, CT: higher priced homes
- Mulvane, KS: higher priced homes
- Muncy, PA: higher priced homes
- Murphy, MO: higher priced homes
- Nevada, IA: higher priced homes
- New Castle, CO: higher priced homes
- New Freedom, PA: higher priced homes
- Pleasant Hills, PA: higher priced homes
- Presque Isle, ME: equally priced homes
- Prestonsburg, KY: equally priced homes
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