Roanoke, VA—24014
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 $283,000, with a year-over-year change of 2.5%. This indicates that home prices in Roanoke, VA are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $283,000 | 2.5% |
| Single Family | $282,000 | 2.9% |
| Condos | $291,000 | -0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $189,000 | 2.2% |
3 Bed | $268,000 | 2.7% |
4 Bed | $540,000 | 5.9% |
| 5 Bed | $844,000 | 4.6% |
% of Housing Stock
Rental Trends — Roanoke, VA
As of July '25, Rentcast reports the average rent in Roanoke, VA is $1,380, with a year-over-year rent change of -6.1%. Per bedroom, the median rent as of July '25 in Roanoke, VA is studios: $750, 1-bedrooms: $905, 2-bedrooms: $1,240, 3-bedrooms: $1,970, 4-bedrooms: $2,020. The most common rental property sizes in Roanoke, VA are 2-bedroom and 1-bedroom, accounting for 45.7% and 30.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,380 |
| Studio Rent | $750 | $750 |
| 1 Bed Rent | $900 | $905 |
| 2 Bed Rent | $1,150 | $1,240 |
| 3 Bed Rent | $1,900 | $1,970 |
| 4 Bed Rent | $1,750 | $2,020 |
% 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 52. This is a increase of 8.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $390,000 | 17.0% |
Listing Count | 89 | 55.0% |
| Listings as % of Homes | 0.4% | 55.0% |
Days on Market | 52 | 8.0% |
Demographics — Roanoke, VA
As of the latest ACS Survey released in 2023, Roanoke, VA has a population of 15,400, which has decreased by -11.3% over the past 5 years. Roanoke, VA is a moderately popular place for families, as children make up 16.5% of the population. The area has a moderately educated workforce, with 39.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,400 | -11.3% |
% Under 18 | 16.5% | -19.5% |
% Seniors | 23.0% | 0.9% |
% WFH | 9.3% | 132.5% |
% w/ College Degree | 39.0% | 8.3% |
As of the latest ACS Survey released in 2023, Roanoke, VA is a predominantly white area, with 84.8% of the population identifying as white. The white population has grown by 2.4% in the last 5 years. The second most common race or ethnicity in Roanoke, VA is black, making up 5.5% of the population. Foreign-born residents account for 2.5% of the population in Roanoke, VA, and this percentage has decreased by 28.6% 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 | 84.8% | 2.4% |
% Black | 5.5% | -41.5% |
% Hispanic | 4.9% | 28.9% |
% Asian | 1.2% | -20.0% |
% Foreign Born | 2.5% | -28.6% |
Mortgage and Risk — Roanoke, VA
According to HUD data as of 2023, there were 266 mortgage originations in Roanoke, VA, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Roanoke, VA. Investor activity is low, as 6.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 266 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Roanoke, VA
As of 2024, the percent of homes in Roanoke, VA under the Section 8 program is 3.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Roanoke, VA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 238 |
Total Units Section 8 | 88 |
% Rentals under Section 8 | 3.3% |
% Occupied Section 8 | 71.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $900 | $860 |
| 2 Bedroom | -$110 | $1,150 | $1,040 |
| 3 Bedroom | -$440 | $1,900 | $1,460 |
| 4 Bedroom | -$30 | $1,750 | $1,720 |
Affordability — Roanoke, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $283,000 |
| Median Household Income | $65,100 |