Roanoke - VA housing market
The Roanoke metro has a typical home value of $299,426, up 3.6% from a year ago. Homes sell in 21 days on average, a balanced market. 32% of listings have had a price cut. Data from Zillow Research, updated monthly.
Roanoke housing market, October 2026
The typical Roanoke home is worth $299,426 as of August 2026, up 0.3% from the prior month, up 0.6% over three months, and up 3.6% from a year ago. Over the past two years values have ranged from $281,952 to $299,426.
Homes are going pending in about 21 days, slower than the 13 days seen three months earlier. There are roughly 1,434 homes for sale, 16% more than a year ago. 31.9% of listings have taken a price cut (up from 26.5% three months ago).
Typical rent is $1,425 a month, up 3.8% year over year, which puts the price-to-rent ratio at 17.5.
At this week's 7.40% mortgage rate with 20% down ($59,885), the typical Roanoke home costs about $2,033 a month including tax and insurance, which needs a household income of roughly $87,100 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($299,426) is the Zillow Home Value Index for the Roanoke - VA metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 3.6% over the past year. In Roanoke - VA, that means a home worth $289,021 last year is now worth roughly $299,426.
The median sale price, what homes actually close for, is $292,479. Homes are selling at 98.7% of list price, meaning buyers have room to negotiate.
Homes listed in Roanoke - VA sit on the market for roughly 21 days before going pending. Shorter = seller's market; longer = buyer's market.
About 31.9% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 424 new listings hit the market each month in Roanoke - VA. There are currently 1,434 homes for sale, up 16.0% from a year ago.
The typical monthly rent in Roanoke - VA is $1,425, up 3.8% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 17.5x, toss-up (#88 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $1,659 a month in principal and interest, $234 more than renting before taxes, insurance and upkeep. The two break even at a 5.93% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in VA
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Washington - DC | $573,336 | +0.2% | 17.0d |
| Virginia Beach - VA | $373,040 | +2.9% | 28.0d |
| Richmond - VA | $394,521 | +2.6% | 11.0d |
| Lynchburg - VA | $290,368 | +3.1% | 24.0d |