Roanoke, Virginia Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Roanoke, Virginia rental market.
Roanoke, Virginia
Average Apartment Rent
$1,376
Y-o-Y Change in Average
Apartment Rent
2.3%
As of May 2026
Compared to a year ago, Roanoke, Virginia apartments have recorded a 2.3% rent increase.
Roanoke, Virginia Average apartment rent trend
Roanoke, Virginia Average Apartment Rent
Roanoke, Virginia Apartment rent ranges
At 50.92%, apartments priced $1,000 - $1,500 represent the bulk of Roanoke, Virginia rentals, while condos priced Over $3,000 hold the lowest share of the market – 0.01%.
Roanoke, Virginia Housing tenure**
Renters take up 48% of Roanoke, Virginia real estate, occupying a total of 20,498 units, while homeowners live in 22,308 properties.
Median number of rooms of renter-occupied housing units**
4.3
Renter median household income**
$34,025
Average household size of renter-occupied housing units**
2.18
Rental vacancy rate**
9%
Roanoke, Virginia Renter-occupied housing units by no. of bedrooms**
There are 8,084 rentals in Roanoke, Virginia with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 157 units. Overall, the median number of rooms in Roanoke, Virginia homes for rent is 4.3.
Roanoke, Virginia Renter-occupied units by age of householder**
Most condos for rent in Roanoke, Virginia are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 45 - 54 years age group (17%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 3%.
Roanoke, Virginia Renter-occupied housing units by family type**
Roanoke, Virginia Renter-occupied housing units by the presence of own children**
A total of 9,149 apartments for rent in Roanoke, Virginia, or 45% of all rentals are family households. Additionally, 25% of rental homes include children under the age of 18 – that’s 5,197 units. All in all, the median size of a renter-occupied household in Roanoke, Virginia is 2.18.
Roanoke, Virginia Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 23% of the rental market. In contrast, residents with less than a high school degree reside in 12% of the homes for rent in Roanoke, Virginia.
Roanoke, Virginia Renter-occupied units by year structure built**
The highest share of Roanoke, Virginia apartment rentals, namely 22% or 4,461 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (16%, 3,370 units), and the ones Built 1960 - 1969 (14%, 2,971 units).
Roanoke, Virginia Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Roanoke, Virginia renters (44%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Roanoke, Virginia condos for rent is 2017.
Roanoke, Virginia Renter-occupied housing units by vehicles available**
When it comes to transportation options, 53% of Roanoke, Virginia renters have 1 vehicle available per household, 21% of them have 2 vehicles available, and 20% have No vehicle available.
Roanoke, Virginia Means of transportation to work of householders living in renter-occupied housing units**
Roanoke, Virginia Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Roanoke, Virginia apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
