Real Estate Investing in Roanoke, Virginia (24018)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24018 (Roanoke, VA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.2% vacancy may signal weakening demand.
What’s happening in Roanoke, VA (24018)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 24018 Roanoke
Looking more closely, ZIP 24018 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $385K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 24018 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 24018 and stronger Roanoke ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 24018 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Roanoke:
Property Strategy for 24018
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $144,453 | $1,230 | 6.1% | +10.8% | $144,453 |
| 2BR | $233,241 | $1,460 | 4.5% | +8.0% | $116,620 |
| 3BR | $327,733 | $2,030 | 4.5% | +7.9% | $109,244 |
| 4BR | $429,561 | $2,450 | 4.1% | +7.5% | $107,390 |
| 5BR | $612,760 | — | — | +7.5% | $122,552 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 24018 Compare?
| Metric | 24018 | Roanoke | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $385,066 | $52,650 | N/A | $403,170 |
| 5-Year CAGR | 6.1% | 7.1% | N/A | 6.4% |
| Avg Rent | $1,680 | $1,398 | N/A | - |
| Cap Rate | 3.4% | 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 24018 (Roanoke, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $385,066 |
| Monthly Rent | $1,680 |
| Price-to-Rent | 19.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 Rent Trends
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). 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 24018
Population: 38,835
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 24018
Schools in This ZIP Code
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
How do home values compare in Roanoke, VA?
Homes in Roanoke, VA typically sell near $385K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
Is Roanoke in VA worth investing in?
Investors tracking Roanoke, VA will find a 3.0/5 rating supported by $385K median home values and $1,680/mo rents. That profile suits long-term holders targeting stable returns.
Is it easy to find good tenants in Roanoke, VA?
The renter base in Roanoke, VA is reasonable for the $1,680/mo price point. Screening well and pricing to market typically yields measured tenants.
Are rents high in Roanoke, VA?
Rents in Roanoke, VA run near $1,680/mo. Compared with median home prices of $385K that produces solid gross yields for typical rentals.
Are landlord laws favorable in Roanoke, VA?
Rental owners in Roanoke, VA deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 24018 now. You don’t know where it ranks.
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How 24018 ranks in Roanoke, VA
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