What is the typical home value in Roanoke - VA?

The typical home in Roanoke - VA, VA is worth $297,868 as of the most recent Zillow Home Value Index reading. Year over year the value has changed by +3.2%.

How long do homes stay on the market in Roanoke - VA?

The median days to pending (time on market before a sale) in Roanoke - VA is currently 23 days. Shorter days on market indicate a seller's market; longer days indicate more buyer leverage.

Are sellers cutting prices in Roanoke - VA?

32.8% of active listings in Roanoke - VA have had a price reduction. This is a signal of softening seller expectations relative to buyer demand.

Is it cheaper to rent or buy in Roanoke - VA?

The price-to-rent ratio in Roanoke - VA is 17.7x (typical home value divided by a year of typical rent), which puts it in toss-up on the Rent vs Buy Index. Typical rent is $1,400 a month versus a principal-and-interest mortgage payment of about $1,650 on the typical home at 7.4% with 20% down.

What income do you need to buy a home in Roanoke - VA?

About $86,700 a year in household income, assuming 20% down ($59,574), a 30-year fixed mortgage at 7.4%, property tax and insurance, and a 28% payment-to-income cap. The monthly payment works out to about $2,022.

Is Roanoke - VA a buyer's or seller's market?

Based on days-on-market, price-cut share, and year-over-year appreciation, Roanoke - VA is currently a balanced market. Buyers should watch days-on-market and price-cut trends monthly.

VA · Metro #164

Roanoke - VA housing market

The Roanoke metro has a typical home value of $297,868, up 3.2% from a year ago. Homes sell in 23 days on average, a balanced market. 33% of listings have had a price cut. Data from Zillow Research, updated monthly.

Typical home value

$297,868

+3.2% vs. year ago

Median sale price

$293,200

+3.1% YoY

Median list price

$359,458

Sale-to-list ratio

98.7%

Selling below ask

Days on market

23d

Listings w/ price cut

32.8%

New listings / mo

406

-1.9% YoY

Homes for sale

1,479

+18.1% YoY

Typical rent

$1,400/mo

+3.5% YoY

Income needed to buy

$86,700

$2,022/mo · #78 of 195

Rent vs buy

17.7x

Toss-up · #82 of 195

October 2026 report · Zillow data through September 2026

Roanoke housing market, October 2026

The typical Roanoke home is worth $297,868 as of September 2026, up 0.2% from the prior month, up 0.6% over three months, and up 3.2% from a year ago. Over the past two years values have ranged from $281,390 to $297,868.

Homes are going pending in about 23 days, slower than the 15 days seen three months earlier. There are roughly 1,479 homes for sale, 18% more than a year ago. 32.8% of listings have taken a price cut (up from 28.9% three months ago).

Typical rent is $1,400 a month, up 3.5% year over year, which puts the price-to-rent ratio at 17.7.

At this week's 7.40% mortgage rate with 20% down ($59,574), the typical Roanoke home costs about $2,022 a month including tax and insurance, which needs a household income of roughly $86,700 to stay under a 28% payment-to-income ratio.

Typical home value, 24 months

Days to pending, 24 months

Homes for sale, 24 months

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 →

Context

How to read this data

The typical home value ($297,868) 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 3.2% over the past year. In Roanoke - VA, that means a home worth $288,632 last year is now worth roughly $297,868.

The median sale price, what homes actually close for, is $293,200. 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 23 days before going pending. Shorter = seller's market; longer = buyer's market.

About 32.8% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.

Roughly 406 new listings hit the market each month in Roanoke - VA. There are currently 1,479 homes for sale, up 18.1% from a year ago.

The typical monthly rent in Roanoke - VA is $1,400, up 3.5% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 17.7x, toss-up (#82 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $1,650 a month in principal and interest, $250 more than renting before taxes, insurance and upkeep. The two break even at a 5.81% rate.