ZIP Code 24016 — Roanoke city, VA Demographics & Data

ZIP code 24016 covers Roanoke, VA in Roanoke city with a population of about 9,828.

At a glance, the area shows median age of 32.8 versus a U.S. median of about 38.9.

It sits in telephone area codes 540, 826; U.S. House district VA-6; the ROANOKE - LYNCHBURG media market.

Roanoke, VA sits in a university / college context (near virginia western community college (2.2 mi)). Expect stronger interest in student housing, rentals, walkability, transit, and a younger adult age mix versus typical suburban ZIPs.

Median household income in ZIP 24016 is about $43,727 — about 42% below the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 31.7%; unemployment rate near 5.9%; 26.4% of adults with a bachelor’s degree or higher (about 7.3 points below the national share (33.7%)).

Labor and commute patterns include leading industry context around Healthcare, Retail trade, and Food services; about 15.5% of workers reporting work-from-home (roughly in line with the U.S. share (15.2%)); a mean commute of about 180.0 minutes (U.S. average near 26.8).

Median home value is about $118,800 — about 66% below the U.S. median home value ($348,079).

Housing tenure and rents show median gross rent around $792 (about 32% below the U.S. median rent ($1,163)), and owner-occupancy near 18.9% (about 46.5 points below the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 24016 in Roanoke, VA, a household would need roughly $33,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $763. That sits below the local median household income ($43,727), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Climate normals for Roanoke city, VA show little to no average snow and around 42.8 inches of annual precipitation.

IRS migration statistics show a net inflow of about 555 for ZIP 24016 (Roanoke city, VA) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.