Roanoke, VA—24013
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Roanoke, VA
As of Oct '25, the median home price in Roanoke, VA is $146,000, with a year-over-year change of -1.8%. This indicates that home prices in Roanoke, VA are decreasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $146,000 | -1.8% |
| Single Family | $146,000 | -2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $129,000 | -0.8% |
3 Bed | $154,000 | -1.9% |
4 Bed | $161,000 | -3.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Roanoke, VA
As of July '25, Rentcast reports the average rent in Roanoke, VA is $1,150, with a year-over-year rent change of 0.9%. Per bedroom, the median rent as of July '25 in Roanoke, VA is 1-bedrooms: $818, 2-bedrooms: $1,140, 3-bedrooms: $1,390, 4-bedrooms: $1,570. The most common rental property sizes in Roanoke, VA are 2-bedroom and 3-bedroom, accounting for 40.8% and 26.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,150 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $818 |
| 2 Bed Rent | $1,050 | $1,140 |
| 3 Bed Rent | $1,400 | $1,390 |
| 4 Bed Rent | $1,600 | $1,570 |
% of Rental Stock
Property Listings — Roanoke, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Roanoke, VA is 54. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $168,000 | 16.0% |
Listing Count | 51 | 74.0% |
| Listings as % of Homes | 0.6% | 74.0% |
Days on Market | 54 | 9.0% |
Demographics — Roanoke, VA
As of the latest ACS Survey released in 2023, Roanoke, VA has a population of 7,680, which has decreased by -9.3% over the past 5 years. Roanoke, VA is a popular place for families, as children make up 30.6% of the population. The area has a poorly educated workforce, with 12.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,680 | -9.3% |
% Under 18 | 30.6% | 21.9% |
% Seniors | 11.6% | -4.9% |
% WFH | 3.1% | -13.9% |
% w/ College Degree | 12.7% | 49.4% |
As of the latest ACS Survey released in 2023, Roanoke, VA is a predominantly white area, with 56.7% of the population identifying as white. The white population has shrunk by 28.9% in the last 5 years. The second most common race or ethnicity in Roanoke, VA is black, making up 30.0% of the population. Foreign-born residents account for 2.8% of the population in Roanoke, VA, and this percentage has decreased by 17.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 56.7% | -28.9% |
% Black | 30.0% | 145.9% |
% Hispanic | 7.4% | 76.2% |
% Asian | 0.5% | 66.7% |
% Foreign Born | 2.8% | -17.6% |
Mortgage and Risk — Roanoke, VA
According to HUD data as of 2023, there were 127 mortgage originations in Roanoke, VA, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Roanoke, VA. Investor activity is high, as 17.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 127 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 17.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Roanoke, VA
As of 2024, the percent of homes in Roanoke, VA under the Section 8 program is 17.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Roanoke, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 454 |
Total Units Section 8 | 262 |
% Rentals under Section 8 | 17.0% |
% Occupied Section 8 | 71.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $800 | $940 |
| 2 Bedroom | $80 | $1,050 | $1,130 |
| 3 Bedroom | $180 | $1,400 | $1,580 |
| 4 Bedroom | $270 | $1,600 | $1,870 |
Affordability — Roanoke, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $146,000 |
| Median Household Income | $53,100 |