Real Estate Investing in Roanoke, Virginia (24017)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24017 (Roanoke, VA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- High vacancy: 12.0% of homes vacant — above national norms.
- Higher unemployment: 7.0% unemployment — tenant risk signal.
What’s happening in Roanoke, VA (24017)?
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Market Analysis: 24017 Roanoke
Investors eyeing 24017 need to respect the fundamentals at play. Home values of $190K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 24017 comes in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Put differently, 24017 offers a low basis, the region around Roanoke has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 24017 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 24017 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Roanoke:
Property Strategy for 24017
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $142,987 | $1,230 | 6.2% | +12.1% | $71,494 |
| 3BR | $186,846 | $1,710 | 6.6% | +10.3% | $62,282 |
| 4BR | $202,550 | $2,060 | 7.3% | +9.8% | $50,637 |
| 5BR | $213,620 | — | — | +8.5% | $42,724 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 24017 Compare?
| Metric | 24017 | Roanoke | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $190,160 | $52,650 | N/A | $403,170 |
| 5-Year CAGR | 8.2% | 7.1% | N/A | 6.4% |
| Avg Rent | $1,528 | $1,398 | N/A | - |
| Cap Rate | 6.3% | 4.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24017 (Roanoke, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $190,160 |
| Monthly Rent | $1,528 |
| Price-to-Rent | 10.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.6% |
| Cap Rate | 6.3% |
| 5-Year IRR | 14.5% |
📈 Home Appreciation
| 1-Year | +5.7% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +8.2% ▲ |
| 10-Year CAGR | +9.1% ▲ |
🏠 Rent Trends
| 1-Year | +3.8% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.3%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 24017
Population: 24,565
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 24017
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Addison Aerospace Magnet Middle
Hurt Park Elementary
Fishburn Park Elementary
Virginia Heights Elementary
Grandin Court Elementary
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 is it like being a landlord in Roanoke, VA?
VA ranks as a landlord-friendly state for landlord-tenant law. Roanoke generally follows the statewide framework, so landlords face reasonable operating rules.
Are renters plentiful in Roanoke, VA?
Roanoke, VA draws a predictable base of working renters. Demand at the $1,528/mo rent level is reasonable for standard single-family and small multi rentals.
How much rent can I charge in Roanoke, VA?
Rents in Roanoke, VA run near $1,528/mo. Compared with median home prices of $190K that produces solid gross yields for typical rentals.
Can I house hack in Roanoke, VA?
Roanoke, VA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,528/mo rent level.
What is the median home value in Roanoke, VA?
Typical homes in Roanoke, VA go for around $190K. The 5-year CAGR of 0.0% predictable price movement.
You know 24017 now. You don’t know where it ranks.
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How 24017 ranks in Roanoke, VA
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