Roanoke, VA Cost Of Living
Cost Of Living In Roanoke, VA Summary
Cost of living in Roanoke research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Roanoke is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Roanoke is 94, with 100 being the average.
The cost of living index in Roanoke is 0.9x lower than the national average.
Roanoke ranks as the #22 cheapest in Virginia out of 190.
Roanoke ranks as the #1,806 cheapest out of 6,489 in the US.
The median home value in Roanoke is $272,407.
The median income in Roanoke is $52,671.
Table Of Contents
Roanoke's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Roanoke, VA?
According to the most recent data on the cost of living, Roanoke has an overall cost of living index of 94, which is 0.9x lower than the national index of 100.
Compared to Virginia, Roanoke has a cost of living index that's 0.9x lower than Virginia's index of 110.
The standard of living in Roanoke ranks as #22 most affordable out of the 190 places we measured in Virginia. By definition, that implies Roanoke ranks as the #168 most expensive place in the Old Dominion.
For more reading on life in Roanoke, check out:
In Virginia
In America
Roanoke Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Roanoke. Here is how it fairs on each of the criteria:
The Services index in Roanoke is 98.
The Groceries index in Roanoke is 95.
The Health index in Roanoke is 88.
The Housing index in Roanoke is 78.
The Transportation index in Roanoke is 97.
The Utilities index in Roanoke is 114.
| Living Expense | Roanoke | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 94 | 110 | 100 | |
| Services | 98 | 101 | 100 | |
| Groceries | 95 | 99 | 100 | |
| Health | 88 | 98 | 100 | |
| Housing | 78 | 130 | 100 | |
| Transportation | 97 | 94 | 100 | |
| Utilities | 114 | 104 | 100 | |
Roanoke, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Roanoke is $272,407.
The Median Rent in Roanoke is $964.
The Median Income in Roanoke is $52,671.
The Home Value To Income in Roanoke is 5.2x.
The Rent To Monthly Income in Roanoke is 0.22x.
Median Home Value
Median Rent
Median Income
Roanoke, VA Costs By Category
Detailed Roanoke Services Costs Vs. Virginia
Detailed Roanoke Groceries Costs Vs. Virginia
Detailed Roanoke Health Costs Vs. Virginia
Detailed Roanoke Transportation Costs Vs. Virginia
Detailed Roanoke Utilities Costs Vs. Virginia
Roanoke SnackAbility
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Cost Of Living In Cities Around Roanoke
The cost of living varies in the cities and towns around Roanoke. Here's a quick look at the cost of living in the most populous nearby places:
Lynchburg, VA has a cost of living index of 93, 1.0x Roanoke.
Blacksburg, VA has a cost of living index of 114, 1.2x Roanoke.
Cave Spring, VA has a cost of living index of 106, 1.1x Roanoke.
| City | Population | Cost Of Living | Vs. Roanoke |
|---|---|---|---|
| Lynchburg, VA | 79,255 | 93 | 1.0x |
| Blacksburg, VA | 45,288 | 114 | 1.2x |
| Cave Spring, VA | 26,014 | 106 | 1.1x |
| Salem, VA | 25,477 | 100 | 1.1x |
| Christiansburg, VA | 22,820 | 100 | 1.1x |
| Hollins, VA | 17,005 | 100 | 1.1x |
| Madison Heights, VA | 10,398 | 92 | 1.0x |
| Vinton, VA | 8,038 | 95 | 1.0x |
| Lexington, VA | 7,420 | 104 | 1.1x |
| Buena Vista, VA | 6,612 | 91 | 1.0x |
