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Roanoke, VA—24015

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$307,000
2.5% YoY Growth
Household Income
$69,800
31.8% YoY Growth
Days on Market
50
16.0% Longer YoY
Home Price Forecast
1.4%
Median Rent
$1,040
11.6% YoY Growth
1-Bed Rent
$895
5.0% YoY Growth
2-Bed Rent
$1,040
4.9% YoY Growth
3-Bed Rent
$1,550
12.0% YoY Growth

Other Zip Codes in Roanoke, VA

2401124018240162401224019240142401724013
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Roanoke, VA

As of May '26, the median home price in Roanoke, VA is $307,000, 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 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$307,0002.5%
Single Family $308,0002.0%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$221,0001.8%
    3 Bed
    		$303,0002.0%
    4 Bed
    		$377,0002.4%
    5 Bed $490,0294.4%
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    % of Housing Stock

    Studio
    2.3%
    1 Bedroom
    10.8%
    2 Bedrooms
    30.2%
    3 Bedrooms
    38.0%
    4 Bedrooms
    15.6%
    5+ Bedrooms
    3.1%

    Rental Trends — Roanoke, VA

    As of July '25, Rentcast reports the average rent in Roanoke, VA is $1,220, with a year-over-year rent change of -11.6%. Per bedroom, the median rent as of July '25 in Roanoke, VA is studios: $748, 1-bedrooms: $902, 2-bedrooms: $1,160, 3-bedrooms: $1,620, 4-bedrooms: $2,010. The most common rental property sizes in Roanoke, VA are 2-bedroom and 1-bedroom, accounting for 50.0% and 26.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,040$1,220
    Studio Rent $720$748
    1 Bed Rent $895$902
    2 Bed Rent $1,040$1,160
    3 Bed Rent $1,550$1,620
    4 Bed Rent $1,850$2,010
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    % of Rental Stock

    Studio
    5.8%
    1 Bedroom
    26.7%
    2 Bedrooms
    50.0%
    3 Bedrooms
    15.9%
    4 Bedrooms
    1.6%

    Property Listings — Roanoke, VA

    As of May '26, Realtor.com reports that the median days on market for a home in Roanoke, VA is 50. This is a increase of 16.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$373,0006.0%
    Listing Count
    		7228.0%
    Listings as % of Homes0.3%28.0%
    Days on Market
    		5016.0%
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    Demographics — Roanoke, VA

    As of the latest ACS Survey released in 2023, Roanoke, VA has a population of 15,800, which has increased by 3.6% over the past 5 years. Roanoke, VA is a moderately popular place for families, as children make up 24.3% of the population. The area has a highly educated workforce, with 46.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		15,8003.6%
    % Under 18
    		24.3%16.3%
    % Seniors
    		15.6%3.3%
    % WFH
    		14.0%133.3%
    % w/ College Degree
    		46.1%10.0%
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    As of the latest ACS Survey released in 2023, Roanoke, VA is a predominantly white area, with 83.0% of the population identifying as white. The white population has grown by 7.7% 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 3.9% of the population in Roanoke, VA, and this percentage has decreased by 65.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		83.0%7.7%
    % Black
    		5.5%-30.4%
    % Hispanic
    		4.7%9.3%
    % Asian
    		2.2%-74.1%
    % Foreign Born
    		3.9%-65.5%
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    Mortgage and Risk — Roanoke, VA

    According to HUD data as of 2023, there were 317 mortgage originations in Roanoke, VA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 26.0% 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. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		317
    % Conventional Loans
    		87.0%
    % Government Loans
    		13.0%
    % Investor Loans
    		6.0%
    % Second Loans
    		2.0%
    % Cash Out Refinance
    		10.0%
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    Rentals and Section 8 — Roanoke, VA

    As of 2024, the percent of homes in Roanoke, VA under the Section 8 program is 7.3%. 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
    		211
    Total Units Section 8
    		211
    % Rentals under Section 8
    		7.3%
    % Occupied Section 8
    		71.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$75$895$820
    2 Bedroom-$50$1,040$990
    3 Bedroom-$160$1,550$1,390
    4 Bedroom-$210$1,850$1,640

    Affordability — Roanoke, VA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.7
    Median Home Price$307,000
    Median Household Income$69,800

    Roanoke, VA — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Roanoke, VA

    24016

    Roanoke, VA

    24017

    Roanoke, VA

    24011

    Roanoke, VA

    24013

    Roanoke, VA

    24014

    Frequently Asked Questions