Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$297,868+3.2% YoY · prices are rising fast
Market right nowBuyer's marketMore homes for sale than last year, 28% have cut their price
Income needed to buy, per year$64,572About 0.9× the local median income ($74,191): affordable for a typical household
Days on market59 daysAbout the same pace as a year ago
Next 12 months+2.8%Zillow expects prices to rise slightly
The typical home in Roanoke, VA is worth $297,868, up 3.2% from a year ago. That is well above what local incomes have historically supported: fair value is about $267,502, so the area is 11.4% overvalued. It is a buyer's market: homes take about 59 days to sell, listings are up 36% from a year ago, 28% of listings have had a price cut. Zillow expects prices to rise about 2.8% over the next year. A household needs about $64,572 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 $74,191. Typical rent is $1,400 a month, or $1,725 for a house. In the latest IRS figures, 693 more people moved in than out.
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
$297,868
Change in 1 year
+3.2%
Overvalued %
+11.4%
Show 7 more
Fair home value
$267,502
Change in 5 years
+32.2%
Zillow forecast, next 12 months
+2.8%
Home value to income
4.0×
Monthly mortgage payment (20% down)
$1,614
Income needed to afford it
$64,572
Property tax rate
0.77%
Rent and investing
Typical rent
$1,400
Typical rent for houses
$1,725
Price-to-rent ratio
17.7×
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HUD Fair Market Rent, 2 bedrooms
$1,397
Gross rental yield
5.64%
Cap rate (estimate)
3.67%
Market activity
Listings vs a year ago
+36.4%
Days on market
59
Listings with a price cut
28.5%
Show 3 more
Homes for sale
1,344
Pending sales per 100 listings
32
Asking price per sq ft
$191
People and jobs
Median household income
$74,191
Population change (1 year)
+0.1%
Unemployment rate
3.6%
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Population
316,547
Income adjusted for cost of living
$79,264
Net moves in (IRS)
+693
Cost of living (US = 100)
93.6
Schools, risk and environment
School rating (1 to 10)
6.3
FEMA hazard risk score (0 to 100)
49.9
Unhealthy air days a year
0
Show 4 more
Flood risk score
67.1
Wildfire risk score
22.2
Walkability (1 to 20)
8.6
Road, rail and air noise
52 dB
Questions people ask
Is Roanoke, VA overvalued?
Home prices in Roanoke, VA are well above what local incomes have historically supported: fair value is about $267,502, so the area is 11.4% overvalued.
Is Roanoke, VA a buyer's or seller's market?
Roanoke, VA is a buyer's market: homes take about 59 days to sell, listings are up 36% from a year ago, 28% of listings have had a price cut.
Are home prices going down in Roanoke, VA?
Home values in Roanoke, VA are up 3.2% 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, VA?
A household needs about $64,572 a year to afford the typical home in Roanoke, VA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $74,191.