Mortgage payment estimates, closing cost breakdowns, and homebuying data for Roanoke, Virginia.
Pre-filled with Roanoke median home price and Virginia tax/insurance rates. Adjust for your property.
Estimated closing costs based on Virginia rates and fees applied to Roanoke prices.
The median home price in Roanoke is $215,000, 46% below the Virginia state median of $400,000. With a population of 100,011, Roanoke is a mid-size city where home prices tend to be more accessible than in many parts of Virginia.
Property taxes in Virginia average 0.82% annually. This moderate property tax rate means a $215,000 home in Roanoke would carry roughly $147/month in property taxes. Homeowners insurance in Virginia runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Roanoke is $1,050/month. The price-to-rent ratio in Roanoke is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Roanoke offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Virginia's Virginia Housing DPA Grant program.