1st Advantage MortgageThe median Roanoke city household earns $55,378, and 18% of residents live below the poverty line. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Virginia license first.
On this page
- Roanoke city at a glance
- Rent, home values and ownership in Roanoke city
- What Roanoke city households earn
- Employment and commuting in Roanoke city
- Roanoke city next to its neighbors
- The communities that make up Roanoke city
- Debt-to-income at Roanoke city's medians
- Who lives in Roanoke city, in numbers
- Reading the Roanoke city data as a borrower
- Steps before you apply in Roanoke city
- Licensing and complaints for Roanoke city
- Nearby and statewide guides
- Frequently asked questions
Roanoke city at a glance
Roughly 98,355 residents live in Roanoke city, Virginia, 20th by population among the state's 133 counties and county equivalents. Land area is 43 square miles (2024 Gazetteer), so density runs near 2,313 per square mile. The federal metro definitions (OMB, July 2023) place it in the Roanoke, VA metropolitan area. The Census Bureau counts 1 place in the county (1 incorporated, 0 census-designated); the largest is Roanoke, with about 98,355 residents, or 100% of the county.
Rent, home values and ownership in Roanoke city
Renters in Roanoke city pay a median of $996 a month, 37% below the Virginia figure of $1,579. Rent takes 30% or more of income for 45% of renter households here. Home values center on $190,500, or 3.4 years of median income. Owners occupy 52% of homes. Median construction year: 1958.
| Roanoke city | Virginia | U.S. county median | |
|---|---|---|---|
| Median gross rent | $996/mo | $1,579/mo | $877/mo |
| Median home value | $190,500 | $383,700 | $185,300 |
| Owners | 52% | 67% | 75% |
| Rent-burdened renters | 45% | 49% | 45% |
| Burdened owners | 28% | 25% | n/a |
With renters making up 48% of households, many Roanoke city borrowers have no home equity to fall back on, so the cheapest written offer on an unsecured loan matters more.
What Roanoke city households earn
The median household income in Roanoke city is $55,378; statewide it is $93,170, so Roanoke city runs 41% below Virginia as a whole. Only 105 Virginia counties post a higher median.
| Households earning | Roanoke city | +/- vs Virginia |
|---|---|---|
| Under $35,000 | 33.0% | +15.1 pts |
| $35,000 to $99,999 | 43.2% | +7.9 pts |
| $100,000 to $199,999 | 18.5% | -10.7 pts |
| $200,000 or more | 5.3% | -12.3 pts |
The spread is wide: 24% of Roanoke city households make $100,000 or more, and 33% make less than $35,000. 18.3% of residents fall below the federal poverty line (statewide: 9.9%). The Gini index of income inequality is 0.508 (0 is perfect equality). A household earning below the $55,378 median should test any payment carefully; one earning above it should still pick the shortest term it can manage.
Employment and commuting in Roanoke city
Education and health care employs 28% of working residents, the largest share; retail trade is next with 13%. The sharpest difference from the state is in education and health care, at 28% locally and 22% for Virginia. Averaged over the five survey years, 5.6% of the labor force was out of work and looking. 6% of commuters travel 45 minutes or more each way, and 12% work from home. Households without a car make up 11.0% of the total (6.1% statewide).
| Sector | Roanoke city | Compared with Virginia |
|---|---|---|
| Education and health care | 28.1% | +5.8 pts |
| Retail trade | 12.7% | +2.9 pts |
| Manufacturing | 10.4% | +3.4 pts |
| Professional and administrative services | 10.3% | -6.5 pts |
| Arts, lodging and food service | 7.9% | 0.0 pts |
| Finance, insurance and real estate | 6.6% | +0.1 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
Roanoke city next to its neighbors
Salem city is closest, 5 miles from center to center; the sixth, Bedford County, is 24 miles off. Income ranges from $66,725 in Salem city to $83,709 in Roanoke County; all six of these neighbors top Roanoke city's median.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Roanoke city | - | $55,378 | $996/mo | 52% |
| Salem city, VA | 5 mi | $66,725 | $1,133/mo | 63% |
| Roanoke County, VA | 13 mi | $83,709 | $1,224/mo | 76% |
| Craig County, VA | 20 mi | $69,057 | $713/mo | 84% |
| Franklin County, VA | 20 mi | $68,849 | $829/mo | 78% |
| Botetourt County, VA | 22 mi | $81,213 | $1,035/mo | 86% |
| Bedford County, VA | 24 mi | $78,937 | $952/mo | 85% |
The communities that make up Roanoke city
Roanoke is the only Census place mainly inside Roanoke city, with about 98,355 of the county's 98,355 residents. This guide covers each of the 1 places and the rural areas around them.
| Name | Kind | Pop. | Income | Rent | Miles |
|---|---|---|---|---|---|
| Roanoke | city | 98,355 | $55,378 | $996 | 0 mi |
Debt-to-income at Roanoke city's medians
Roanoke city at the medians, through a lender's eyes (what DTI means):
- $4,615 a month: gross income for a household at the Roanoke city median
- Rent at the median, $996, takes 22% of that
- Under a 43% cap, $1,984 total minus rent leaves $988
Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.
Who lives in Roanoke city, in numbers
30% of Roanoke city adults 25 and older hold a bachelor's degree or more. 9.8% of residents have no health coverage.
| Residents | Roanoke city | Virginia | Middle U.S. county |
|---|---|---|---|
| Median age | 38.3 | 39.0 | 41.5 |
| Bachelor's or higher | 30.0% | 42.2% | 22.2% |
| No high school diploma | 10.3% | 8.4% | n/a |
| No health insurance | 9.8% | 6.9% | 7.8% |
| No vehicle | 11.0% | 6.1% | 5.4% |
| Work from home | 11.8% | 18.3% | 8.7% |
| Poverty rate | 18.3% | 9.9% | 13.2% |
| Unemployment (ACS) | 5.6% | 4.3% | 4.4% |
| Commute length | Roanoke city |
|---|---|
| Under 15 min | 34.8% |
| 15 to 29 min | 47.8% |
| 30 to 44 min | 11.0% |
| 45 to 59 min | 3.2% |
| 60+ min | 3.2% |
Reading the Roanoke city data as a borrower
The county's numbers point to a few situations that come up often for Roanoke city borrowers.
- Assistance before credit. With a 18% poverty rate, check no-cost options before any Roanoke city loan.
- Tight rental budgets. With 45% of Roanoke city renters cost-burdened, test a new payment against a lean month.
- Credit reports. Pull free reports at AnnualCreditReport.com and dispute errors before applying.
Steps before you apply in Roanoke city
Four checks before you sign anything:
- Know the exact dollar figure you need before talking to a lender.
- Shop at least three lenders, including one Roanoke city-area credit union.
- A Virginia license check takes minutes; do it first.
- Read the final agreement; it must match the offer.
Licensing and complaints for Roanoke city
Consumer lenders serving Roanoke city are licensed by the state, not the county; in Virginia that is the Virginia Bureau of Financial Institutions. The Consumer Financial Protection Bureau accepts complaints nationwide. The Virginia guide covers state rules in more detail.
Nearby and statewide guides
For statewide rules and data, see the Virginia guide.
Frequently asked questions
What is the median household income in Roanoke city?
$55,378 a year in the 2020 to 2024 Census survey, versus $93,170 for Virginia. It ranks 106th of 133 in the state.
What do renters pay in Roanoke city?
$996 a month at the median, about 22% of median household income.
Which towns does the Roanoke city guide cover?
Every community in the county, unincorporated areas included. The largest of its 1 Census places: Roanoke.
Does living in Roanoke city change what I qualify for?
Not in our fit check, which uses only the amount, credit range, income and payments you enter, the same for a Roanoke city resident as anyone. Lenders decide under fair-lending law.
Who regulates personal lenders for Roanoke city residents?
The Virginia Bureau of Financial Institutions licenses consumer lenders in Virginia; the CFPB takes complaints about any lender, and the FTC wants to hear about fee-first offers.