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Roanoke

Learn about the people, housing, costs and businesses in Roanoke, Alabama

Median Home$130,922
Median Rent$615/month
Population5,205
Leading IndustriesRetail · Manufacturing · Arts, Food & Hospitality23% retail
Home Value Growth⬆⬆+20.6% over 2 years
Family-Friendly24% of residentsslightly above average
Homeowners73% of occupied units
NotableAffordable Market$131k median home · lower cost than 80% of the country
Roanoke
AL

Frequently Asked Questions

What are today's mortgage rates in Roanoke?

As of today, the 30-year fixed mortgage rate for Roanoke is approximately 6.872% (6.907% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Roanoke?

The median home value in Roanoke is $131k. The median monthly rent is $615. Annual property taxes average $386. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Roanoke?

Home values in Roanoke have increased 20.6% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Roanoke?

Based on a typical all-in ownership cost of $566/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $24k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Roanoke is $48k/year.

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What industries drive the economy in Roanoke?

The largest employment sectors in Roanoke are retail (23%) and public administration (20%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.