Affordable
Expensive
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These days, finding an affordable place to live in the Roanoke City area can be challenging. Home prices in Roanoke City are now at a median cost of $218,926, lower than the Virginia average of $443,089.
The average cost of rent is $1,018/mo in Roanoke City, primarily driven by the current value of real estate in the Roanoke City area. In Roanoke City, 47.56% of households rent, and 42.29% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Roanoke City is $5,020 per month. Households that rent pay about 20.29% of their income on rent here. Roanoke City’s most expensive areas are in the southern regions, while the cheapest areas are in the western parts of the county.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Counties
- Roanoke County, VA: higher priced homes
- Salem City, VA: higher priced homes
- Montgomery County, VA: higher priced homes
- Bedford County, VA: higher priced homes
- Radford City, VA: higher priced homes
- Giles County, VA: less expensive homes
- Lynchburg City, VA: equally priced homes
- Campbell County, VA: equally priced homes
- Appomattox County, VA: equally priced homes
- Bland County, VA: less expensive homes
Counties with Similar Populations
- Wicomico County, MD: higher priced homes
- Tompkins County, NY: higher priced homes
- Madison County, MS: higher priced homes
- Tuscarawas County, OH: less expensive homes
- Twin Falls County, ID: higher priced homes
- Victoria County, TX: equally priced homes
- Vigo County, IN: less expensive homes
- LaSalle County, IL: less expensive homes
- Warren County, NJ: higher priced homes
- Terrebonne Parish, LA: equally priced homes
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