Roanoke housing market
Typical home value
$298K
▲ 3.2% 1 yr
Typical rent
$1,400/mo
▲ 3.5% 1 yr
12-month forecast
+2.8%
#159 of 546 metros
Gross rent yield
5.6%
#320 of 546 · U.S. 6.3%
Days to pending
51 days
▲ +8 days 1 yr
Listings with a price cut
33%
▼ −1.4 pts 1 yr
Key takeaways
- 1The typical home is worth $297,868, up 3.2% in a year and up 32% over five years.
- 2Zillow forecasts home values rising 2.8% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,400/mo (+3.5% YoY), a 5.6% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,637/mo in principal and interest, $237 more than renting.
- 5Homes go under contract in 51 days (+8 days vs last year); 33% of listings have had a price cut.
Market temperature
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 36/100, #345 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Roanoke compares
| Measure | Roanoke | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +3.2% | +1.2% | #179 |
| Home value, 5-yr change | +32.2% | +19.7% | |
| 12-month forecast | +2.8% | +1.1% | #159 |
| Rent, 1-yr change | +3.5% | +2.7% | #255 |
| Gross rent yield | 5.6% | 6.3% | #320 |
| Price-to-rent ratio | 17.7 | 15.8 | |
| Mortgage P&I on typical home | $1,637 | $2,012 | |
| Income needed to buy | $82,481 | $100,902 | |
| Days to pending | 51 | 56 |
Cities in the Roanoke metro
2 cities with home value and rent data.
Run the numbers
Rental property calculator
Cash flow on a typical Roanoke rental ($298K, $1,400/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Roanoke home.
Rent vs buy
Is it cheaper to rent or buy in Roanoke?
Other Virginia metros
Washington, DC
$570K home$2,407 rent5.1% yield
▲ 0.2% 1 yr
Virginia Beach, VA
$371K home$1,886 rent6.1% yield
▲ 2.9% 1 yr
Richmond, VA
$392K home$1,706 rent5.2% yield
▲ 2.6% 1 yr
Lynchburg, VA
$288K home$1,288 rent5.4% yield
▲ 2.9% 1 yr
Charlottesville, VA
$464K home$2,040 rent5.3% yield
▲ 1.3% 1 yr
Blacksburg, VA
$287K home$1,659 rent6.9% yield
▲ 3.3% 1 yr
Winchester, VA
$385K home$1,825 rent5.7% yield
▲ 1.4% 1 yr
Harrisonburg, VA
$350K home$1,691 rent5.8% yield
▲ 2.6% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.