Why Live in Roanoke
Nestled in Virginia's Blue Ridge Mountains, Roanoke combines outdoor recreation with cultural attractions. The iconic Mill Mountain Star, standing 88.5 feet tall, overlooks the city and provides panoramic valley views. Residents enjoy hiking the Appalachian Trail, biking the Roanoke Valley Greenways, and exploring the Blue Ridge Parkway. The downtown area features the Taubman Museum of Art, Center in the Square with its science and history museums, and the bustling City Market. Local dining highlights include Lucky's seasonal menu, the rooftop views at Six and Sky Grille, and the historic Regency Room at Hotel Roanoke.
The housing market includes diverse options across distinct neighborhoods. South Roanoke commands the highest median single-family home prices at $570,000, while Wasena and Grandin Court present more moderate options with median prices of $278,500 and $280,000 respectively. Downtown Roanoke features townhouses with a median price of $235,000. One-bedroom condos start at a median of $112,500, while two-bedroom units reach a median of $220,000.
The cost of living sits 8.7% below the national average. A family with school-age children needs approximately $97,000 annually to live comfortably, while renters require about $51,000. Property taxes stand at 1.01%, comparing favorably to nearby Salem at 0.91%. The education system includes highly rated schools like North Cross School, rated A+ by Niche, and Cave Spring High School, rated A. Hollins University provides higher education opportunities. Public transportation includes Valley Metro bus service, Amtrak connections, and access to Roanoke-Blacksburg Regional Airport. The city experiences four distinct seasons with moderate temperatures, averaging summer highs in the mid-80s and winter lows in the low 30s.
Home Trends in Roanoke, VA
On average, homes in Roanoke, VA sell after 36 days on the market compared to the national average of 50 days. The median sale price for homes in Roanoke, VA over the last 12 months is $280,500, up 9% from the median home sale price over the previous 12 months.
Median Sale Price
$280,500
Median Single Family Sale Price
$284,700
Median Townhouse Sale Price
$265,000
Median 2 Bedroom Sale Price
$220,000
Median 1 Bedroom Sale Price
$112,500
Average Price Per Sq Ft
$168
Number of Homes for Sale
428
Last 12 months Home Sales
1,966
Median List Price
$285,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
9%