Safe Rate Local

Roanoke

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

Median Home$260,594
Median Rent$1,073/month
Population314,986
Leading IndustryPublic Administration27% of local workforce
Home Value Growth⬆⬆+20.0% over 2 years
Retirees21% of residentsabove average nationally
Homeowners69% of occupied units
NotableVeteran Community8% of residents · top 28% nationally
Roanoke

Frequently Asked Questions

What are today's mortgage rates in Roanoke?

Mortgage rates for Roanoke are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

View current rates for Roanoke
What is the median home price in Roanoke?

The median home value in Roanoke is $261k. The median monthly rent is $1,073. Annual property taxes average $2k. 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 20.0% 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 $1,061/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $45k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Roanoke is $72k/year.

Calculate your buying power
What industries drive the economy in Roanoke?

The largest employment sectors in Roanoke are public administration (27%) and retail (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.