Cost of Living Comparison for Roanoke, VA
Updated 2026 · Local data pre-filled
Roanoke's cost of living index is 88 — 12% cheaper than the national average. This factors in housing, groceries, utilities, transportation, and healthcare. Use this calculator to see how your purchasing power would change if you moved to another city.
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How Roanoke Compares to the National Average
Understanding how Roanoke stacks up helps you calibrate your financial planning.
| Metric | Roanoke, VA | US Average | Difference |
|---|---|---|---|
| Median Home Price | $215,000 | $420,800 | -48.9% |
| Median Monthly Rent | $950 | $1,713 | -44.5% |
| Median Household Income | $55,800 | $74,580 | -25.2% |
| Property Tax Rate | 0.82% | 1.10% | -25.5% |
| Cost of Living Index | 88 | 100 | -12.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Roanoke Financial Snapshot
- Population (Metro)
- 320,000
- Unemployment
- 3.6%
- Avg Commute
- 22 min
- Median Age
- 39.5
- Price-to-Rent Ratio
- 18.9x
- Annual Property Tax
- $1,763
Cost of Living Comparison in Other Virginia Cities
Frequently Asked Questions — Roanoke
What is the median home price in Roanoke, VA?
The median home price in Roanoke is $215,000 as of 2025–2026. This is below the national median of $420,800.
What is the average rent in Roanoke?
Median monthly rent in Roanoke is $950. That works out to $11,400/year, or 20% of the median household income — within the commonly recommended 30% of income guideline.
Is Roanoke affordable?
Roanoke's cost of living index is 88 vs. the national average of 100. With a median household income of $55,800/year and a median home price of $215,000, the price-to-income ratio is 3.9x. Roanoke remains relatively affordable compared to many US metros.
What is the property tax rate in Roanoke?
The effective property tax rate in Roanoke is 0.82% of assessed value. On the median home of $215,000, that's roughly $1,763/year ($147/month).