Housing

9Housing in the Roanoke Valley

Home values in the Roanoke Valley tend to be lower than in many other parts of the country. The median home value in 2019 was significantly lower than the national median value.

Median Home Value
(2019 American Community Survey)

AreaMedian Home Value
USA$240,500
Virginia
$288,800
Roanoke MSA$191,800
Roanoke County$215,500
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Cost of Living - Housing Component

The Cost of Living Index is researched and provided quarterly by ACCRA, a nonprofit organization promoting excellence in research for economic and community development. It provides a cost comparison of over 300 U.S. cities based on a number of components, including cost of housing, utilities, grocery items, transportation, health care and miscellaneous goods and services.

The Housing Component of the ACCRA Cost of Living Survey considers the cost of:

  • Monthly rent, excluding utilities, for a two-bedroom apartment of approximately 950 square feet
  • Monthly mortgage payment on a new 2,400 square-foot house

Housing Index

CityIndex
San Jose, CA241.4
Queens, NY231.5
Seattle, WA
229.6
Los Angeles-Long Beach, CA
229.4
Portland, OR
181.6
Chicago, IL163.6
Asheville, NC
118.5
Charlottesville, VA114.5
Dallas, TX
113.8
Phoenix, AZ
112.4
Madison, WI109.9
Salt Lake City, UT
105.9
Atlanta, GA
104.7
Minneapolis, MN103.2
Milwaukee-Waukesha, WI
102.6
Boise, ID
101.7
National Average100.0
Detroit, MI
100.0
Charleston, SC
99.0
Buffalo, NY
95.2
Raleigh, NC
93.0
Kansas City, MO-KS
90.0
Orlando, FL
88.6
Omaha, NE
88.2
Roanoke, VA81.0

Source: ACCRA Cost of Living Survey 2020