Roanoke, VA Rental Market
Roanoke is the largest city in western Virginia and the commercial hub of the Blue Ridge region. Carilion Clinic — one of Virginia's largest health systems — is the dominant employer and anchors consistent healthcare worker demand. Virginia Tech's Roanoke campus and a growing entrepreneurial ecosystem are diversifying the economy beyond its manufacturing roots. Low home values create strong gross yields for investors, while steady in-migration from remote workers seeking outdoor lifestyle access to the Appalachian Trail and Blue Ridge Parkway supports rent growth.
Get a rent estimate for an address in RoanokeAverage Rent in Roanoke, VA
$1,120
per month · 2026-06
Market Score
Key Facts — Roanoke, VA Rental Market
- Average rent in Roanoke, VA:$1,120/mo
- Median rent:$1,030/mo
- Rent range:$550 – $2,450/mo
- Most common rental (2 bedrooms):$975/mo
- Active listings:580
- Avg days to lease:33 days
- Year-over-year change:+3.0%
- Median home value:$195,000
- Est. gross annual yield:6.9%
- Data as of:2026-06
Rent by Bedroom in Roanoke, VA
Average monthly rent for each bedroom type based on current active listings in Roanoke.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $800/mo |
2 Bedrooms | $975/mo |
3 Bedrooms | $1,250/mo |
4 Bedrooms | $1,550/mo |
5 Bedrooms | $1,775/mo |
Roanoke Rental Market Statistics
Key indicators from the current Roanoke, VA rental market.
580
Available now in Roanoke
33
From list to lease
$0.90
Average across listings
1,250 sq ft
Typical rental size
$550 – $2,450
Min to max active listings
+3.0%
Avg rent vs. prior year
Investing in Roanoke, VA Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$195,000
Typical purchase price in Roanoke
Est. Gross Annual Yield
6.9%
Before expenses & vacancy
Avg Monthly Income
$1,120
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Roanoke for a full cash-flow breakdown including all costs.
Roanoke, VA Rental Market FAQ
Common questions about renting and investing in Roanoke, VA.
What is the average rent in Roanoke, VA?
The average rent in Roanoke, VA is $1,120 per month as of 2026. One-bedroom units average $800/mo, two-bedrooms average $975/mo, and three-bedroom homes average $1,250/mo — some of the most affordable rents among mid-size Virginia cities.
Is Roanoke, VA a good place to invest in rental property?
Roanoke offers a 6.9% estimated gross yield with a low median home value near $195,000. Carilion Clinic's 13,000+ employee base provides a stable healthcare-worker tenant pool, and the growing remote-worker influx is supporting modest but consistent rent appreciation. Best suited for cash-flow-focused investors seeking affordable entry prices.
What drives rental demand in Roanoke, VA?
Roanoke's rental market is anchored by Carilion Clinic (healthcare), Virginia Tech's Roanoke Center, and a range of manufacturing and logistics employers in the broader valley. The city's outdoor recreation reputation — gateway to the Blue Ridge Parkway and Appalachian Trail — is attracting remote workers and early retirees who prefer renting while exploring the area.
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