Real Estate Investing in Roanoke, Virginia (24014)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24014 (Roanoke, VA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 13.3% of homes vacant — above national norms.
What’s happening in Roanoke, VA (24014)?
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Market Analysis: 24014 Roanoke
The 24014 ZIP covers a section of Roanoke that demands careful diligence. Prices near $300K look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 24014 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 24014 sits on the difficult end of the VA spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 24014 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 24014 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Roanoke:
Property Strategy for 24014
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $188,841 | $1,140 | 4.3% | +8.8% | $94,421 |
| 3BR | $268,210 | $1,580 | 4.2% | +8.1% | $89,403 |
| 4BR | $539,510 | $1,910 | 2.5% | +8.7% | $134,878 |
| 5BR | $843,761 | — | — | +9.4% | $168,752 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 24014 Compare?
| Metric | 24014 | Roanoke | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $299,913 | $52,650 | N/A | $403,170 |
| 5-Year CAGR | 6.8% | 7.1% | N/A | 6.4% |
| Avg Rent | $1,241 | $1,398 | N/A | - |
| Cap Rate | 3.2% | 4.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24014 (Roanoke, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $299,913 |
| Monthly Rent | $1,241 |
| Price-to-Rent | 20.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.2% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +7.8% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | -17.6% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 24014
Population: 15,443
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 24014
Schools in This ZIP Code
Nearby Schools (3 more)
Schools in adjacent ZIP codes that may serve this area
Morningside Elementary
Fallon Park Elementary
John P. Fishwick Middle
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 709 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What approach is best for Roanoke, VA real estate?
Most investors in Roanoke, VA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Is the tenant base reliable in Roanoke, VA?
Working renters make up the core of the Roanoke, VA tenant base. The pool is reasonable for investors targeting long-term holds.
How quickly do rentals get leased in Roanoke, VA?
Occupancy in Roanoke, VA runs predictable with elevated vacancy. Well-priced units at $1,241/mo lease on reasonable timelines.
Where do home prices stand in Roanoke, VA?
Homes in Roanoke, VA typically sell near $300K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
Is Roanoke in VA worth investing in?
The 3.0/5 investability rating in Roanoke, VA reflects its $300K prices and $1,241/mo rents. Investors generally consider it a solid option within VA.
You know 24014 now. You don’t know where it ranks.
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How 24014 ranks in Roanoke, VA
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