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Roanoke County, VA

Hollins

RANK #797 / 996 NAT  ·  #25 / 37 VA  ·  POP 96,653

1YR FORECAST: +1.8%

5YR OUTLOOK: +16%

#26 Most Overvalued
Our model projects Roanoke County's housing market at +1.8% over the next year, underperforming most U.S. counties.

[01] Why Roanoke County?

Roanoke County, Virginia, is often recognized for its direct access to the Appalachian Trail, including the iconic McAfee Knob, a popular hiking destination with panoramic views. Located in the Blue Ridge Mountains, the county is largely suburban, surrounding the independent cities of Roanoke and Salem. Commutes within the county and to nearby cities are generally short, with residents often measuring travel time in minutes. The community offers a blend of natural scenery and convenient access to urban amenities. The county also features Explore Park, a large outdoor recreation facility with trails, camping, and a treetop adventure course.

Life in Roanoke County is characterized by a family-friendly atmosphere and a focus on outdoor activities. The public schools in Roanoke County are consistently rated highly. The local economy is diverse, with growth in sectors such as advanced manufacturing, life sciences, and technology. Major investments have been made in manufacturing operations, and the region benefits from its proximity to several higher education institutions, which contribute to a skilled workforce.

[02] Market Snapshot

Housing Ratio
11.6x

Overvalued relative to economy

Home Prices
+3.4%

Outpacing national median

Climate & Terrain
0.0

Moderate climate & terrain

Price/Rent
13x

Below national median (13x)

Housing looks overvalued at 11.6x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    Wells Fargo Operations Center Finance
    2,500+
  2. 2
    Roanoke County Schools Education
    1,000+
  3. 3
    Friendship Retirement Community Healthcare
  4. 4
    County of Roanoke Government
  5. 5
    Kroger Retail
    500+
  6. 6
    Elbit Systems Ltd. Manufacturing
  7. 7
    Marvin Windows and Doors Manufacturing
  8. 8
    Allstate Insurance Company Finance
  9. 9
    Walmart Retail
    250+
  10. 10
    TMEIC Corp. Manufacturing

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Roanoke County U.S. National

The Numbers

DEMOGRAPHICS
Population
96,653
+0.36% YoY
Median Household Income
$80,872
Median Home Value
$245,800
+3.37% 12mo
Median Rent
$1,116
Average Annual Pay
$54,899
+4.6% YoY
Employment
37,445
-0.7% YoY
Income-to-Home-Value
0.329
More affordable than average
Migration Inflow
5.39%
of pop. from another state
Bachelor's Degree+
37.5%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Median Sale Price
$283,500
Days on Market
53
Moderate pace
Months of Supply
3.2
Balanced market
Sale-to-List Ratio
96.9%
Negotiation room for buyers
Sold Above List
18.2%
Listings w/ Price Drops
35.7%
Building Permits (2024)
360
Single-Family Permits
118

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Crime & Safety

B-
SAFETY
GRADE
Homicide Rate
4.2
per 100K · nat avg 6.3
Firearm Fatalities
13.9
per 100K · nat avg 14.8
Injury Deaths
89.2
per 100K · nat avg 76.3
vs National Average
Below national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Air Quality

B
AIR QUALITY
GRADE
Median AQI (3yr)
42.7
Good
Good Air Days
69%
754 of 1,095 days
Unhealthy+ Days (3yr)
5
Sensitive groups affected
Primary Pollutant
PM2.5
Fine particulate matter
Yearly Trend
2021
43
2022
42
2023
43
Median AQI · lower is better

Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →

[07] Capital Investment

$3,160M
TOTAL
PROJECT AMOUNT STATUS
Google Data Center Campus (Project Raspberry)
Google
$3,000M Planned
Roanoke City Schools Solar + Storage Microgrid
Secure Solar Futures
$60M Under Construction
Route 419/220 Diverging Diamond Interchange (DDI)
Virginia Department of Transportation
$50M Under Construction
Amazon Last-Mile Delivery Center
Amazon
$50M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[08] Score Breakdown

Population Growth +0.4% 45 percentile
Income Growth +8.4% 46 percentile
Vacancy Rate 1.1% 50 percentile
Home Price Change +3.4% 76 percentile
Rent Growth +3.0% 48 percentile
Price/Rent 13x 55 percentile

Bars show percentile rank among all 996 counties.

[09] Frequently Asked Questions

Is Roanoke County, VA a good place to move to?

The data is not encouraging — Roanoke County scores just 19/100 on the Boom Town Index, ranking #797 of 996 counties. Job growth at -0.7% and median household income of $80,872 reflect an economy that has been contracting or stagnating relative to the rest of the country.

Is Roanoke County affordable?

Housing in Roanoke County is roughly in line with national affordability norms. The median home costs $245,800 and the income-to-home-value ratio sits at 0.33, with rents averaging $1,116/month. Not a bargain, but not a stretch for most local earners either.

Is Roanoke County growing or shrinking?

Population and employment in Roanoke County are both close to flat — population +0.4% YoY and jobs -0.7%. Home values shifted +3.4% over the past 12 months. A steady-state county, neither expanding quickly nor shrinking.

Are people moving to Roanoke County?

In significant numbers — 5.39% of Roanoke County's current population relocated from another state, well above the national norm. That level of in-migration usually signals a county where jobs, affordability, or quality of life are pulling people in from elsewhere.

[10] Similar Counties by Size & Score

York County, VA 17 Suffolk city, VA 17 Montgomery County, VA 16 Albemarle County, VA 16 Roanoke city, VA 24 Fauquier County, VA 24 Carbon County, PA 19 Strafford County, NH 19