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Roanoke city, VA

ZIP 24016 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 24016

Median Home Value
$118,800
Median Rent
$792
Affordability Snapshot
$33,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$763/mo PITI).

22%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

12.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 24016 in Roanoke city, 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.

Housing Tenure

Vacancy rate 17% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
18.9%-71% vs US avg
x
Vacancy Rate
16.7%+63% vs US avg
x
Broadband Access
74.8%-14% vs US avg
x
4+ Bedrooms
1.5%-90% vs US avg
x
Built Pre-1939
8.4%-34% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
21.8%-56% vs US avg
x
Mortgage-Free
64.9%+70% vs US avg
x
$118,800
Home Value
$792
Rent
1942
Year Built
2018
Moved In

Residents have lived here since ~2018 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached35.2%
  • 1-unit attached5.1%
  • 2-9 units29.6%
  • 10+ units30.2%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$118,800
Median rent$792
Owner-occupied18.9%
Vacant16.7%
Price-to-income2.7x
Est. income to buy$33,000