Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$219,673+0.6% YoY · prices are rising
Market right nowBalanced, leaning buyersMore homes for sale than last year, 30% have cut their price
Income needed to buy, per year$47,621About 0.8× the local median income ($59,858): affordable for a typical household
Days on market50 daysFaster than a year ago: sellers have the edge
Next 12 months+2.8%Zillow expects prices to rise slightly
The typical home in Roanoke City, VA is worth $219,673, up 0.6% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $200,227, so the area is 9.7% overvalued. It is a balanced market, leaning toward buyers: homes take about 50 days to sell, listings are up 8% from a year ago, 30% of listings have had a price cut. Zillow expects prices to rise about 2.8% over the next year. A household needs about $47,621 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $59,858. Typical rent is $1,280 a month, or $1,577 for a house. In the latest IRS figures, 139 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$219,673
Change in 1 year
+0.6%
Overvalued %
+9.7%
Show 7 more
Fair home value
$200,227
Change in 5 years
+37.2%
Zillow forecast, next 12 months
+2.8%
Home value to income
3.7×
Monthly mortgage payment (20% down)
$1,191
Income needed to afford it
$47,621
Property tax rate
0.99%
Rent and investing
Typical rent
$1,280
Typical rent for houses
$1,577
Price-to-rent ratio
14.3×
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HUD Fair Market Rent, 2 bedrooms
$1,464
Gross rental yield
6.99%
Cap rate (estimate)
4.55%
Market activity
Listings vs a year ago
+8.5%
Days on market
50
Listings with a price cut
30.1%
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Homes for sale
319
Pending sales per 100 listings
38
Asking price per sq ft
$173
People and jobs
Median household income
$59,858
Population change (1 year)
+0.4%
Unemployment rate
5.6%
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Population
99,111
Income adjusted for cost of living
$63,951
Net moves in (IRS)
−139
Cost of living (US = 100)
93.6
Schools, risk and environment
School rating (1 to 10)
4.2
FEMA hazard risk score (0 to 100)
72.9
Flood risk score
84.1
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Wildfire risk score
8.5
Walkability (1 to 20)
12.9
Road, rail and air noise
52 dB
Questions people ask
Is Roanoke City, VA overvalued?
Home prices in Roanoke City, VA are slightly above what local incomes have historically supported: fair value is about $200,227, so the area is 9.7% overvalued.
Is Roanoke City, VA a buyer's or seller's market?
Roanoke City, VA is a balanced market, leaning toward buyers: homes take about 50 days to sell, listings are up 8% from a year ago, 30% of listings have had a price cut.
Are home prices going down in Roanoke City, VA?
Home values in Roanoke City, VA are up 0.6% over the last year. Zillow's forecast for the next 12 months is +2.8%.
How much do you need to earn to buy a home in Roanoke City, VA?
A household needs about $47,621 a year to afford the typical home in Roanoke City, VA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $59,858.