Roanoke city, Virginia Housing Market
In Roanoke city, Virginia, the median home value is $190,500, with a median monthly rent of $996. This places Roanoke city at #1510 nationally out of 3134 counties by median home value, and #97 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,239
- Establishments: 3,498
- BLS QCEW, 2025
Housing Supply
- Single-family: 88
- Multi-family: 322
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 40,549 (avg $61,143)
- Outflow: 38,280 (avg $61,882)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Roanoke city · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 24013 | 267.6 | +2.17% | 2025 |
| 2 | 24017 | 277.7 | +4.62% | 2025 |
| 3 | 24016 | 326.1 | +1.78% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
🔗 Explore Roanoke city on Our Sister Sites
Get the complete picture for Roanoke city — financing options and ongoing ownership costs.
💰 Mortgage Guide → 🧾 Property Tax Data →How Roanoke city Compares
| Metric | Roanoke city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $190,500 | $295,807 | $227,706 |
| Median Gross Rent | $996 | $1,169 | $968 |
| Owner Occupancy Rate | 52.4% | 70.8% | 73.3% |
| Price/Rent Ratio | 15.9 | 20.3 | 18.7 |
Market Analysis
The median home value in Roanoke city is 35.6% below the Virginia state average and 16.3% below the U.S. national average. The median rent of $996/month is 14.8% below the state average.
With a price-to-rent ratio of 15.9, the buy-vs-rent decision in Roanoke city is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Roanoke city has an owner-occupancy rate of 52.4%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Levy County | Florida | $190,600 | $850 |
| Mobile County | Alabama | $190,700 | $1,052 |
| Dallas County | Missouri | $190,300 | $642 |
| Newton County | Missouri | $190,700 | $817 |
| Calhoun County | Illinois | $190,900 | $583 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Pulaski County | $191,700 | $813 | 73.4% |
| Craig County | $189,000 | $713 | 83.7% |
| Petersburg city | $189,000 | $1,174 | 38.6% |
| Mecklenburg County | $192,600 | $823 | 68.3% |
| Bristol city | $184,100 | $801 | 63.6% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).