Most Affordable Neighborhoods in Roanoke, VA
Some of the cheapest neighborhoods in Roanoke are Preston Park, Old Southwest, and Roundhill. These neighborhoods offer some of the lowest rent prices in Roanoke, making them ideal for renters on a budget. As of March 4, 2025, the average rent in Roanoke is $1,080, which is 5.1% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Preston Park
Average Rent
$798/Month
Year-Over-Year Rent Change
2.6%
TransitScore® Rating
28/100
Units Available
2 Rentals
Preston Park is an affordable neighborhood in Roanoke with an average rent price of $798. Compare this to the city average of $1,080. In the past year, rent prices have increased by 2.6%. Preston Park provides easy access to Radford University Carilion, Woodpecker Ridge Nature Center, and Science Museum of Western Virginia. It’s a somewhat walkable neighborhood with a WalkScore® of 61.
Old Southwest
Average Rent
$996/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
45/100
Units Available
5 Rentals
If you’re looking for a great, affordable neighborhood in Roanoke, Old Southwest might be the perfect place! It has an average rent price of $996, while the city’s average stands at $1,080. In the last year, prices have decreased by 1.2%. Old Southwest is near Virginia Western Comm. Coll., Towers Shopping Center, and Roanoke College.
Roundhill
Average Rent
$999/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
30/100
Units Available
2 Rentals
Roundhill is a top choice for budget-conscious renters for a variety of reasons. The average rent in Roundhill is $999 while the city average is $1,080. This is a 1% difference from last year. Residents enjoy convenient access to Valley View Shopping Center, Hollins University, and Radford University Carilion. The neighborhood is considered somewhat walkable with a WalkScore® of 59.
Garden City
Average Rent
$1,016/Month
TransitScore® Rating
21/100
Units Available
4 Rentals
When you’re looking for a great Roanoke neighborhood on a budget, check out Garden City. The average rent is $1,016, compared to the city average of $1,080. Garden City is convenient to Roanoke College, Bennington Place, and Hollins University. The community is car-dependent with a WalkScore® of 36.
Riverdale
Average Rent
$1,016/Month
Year-Over-Year Rent Change
7.3%
TransitScore® Rating
22/100
Units Available
4 Rentals
Riverdale is an affordable neighborhood in Roanoke with an average rent price of $1,016. Compare this to the city average of $1,080. In the past year, rent prices have increased by 7.3%. Riverdale provides easy access to Orange Plaza, Wolf Creek Greenway, and Virginia Western Comm. Coll.. It’s a car-dependent neighborhood with a WalkScore® of 22.
Raleigh Court
Average Rent
$1,033/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
28/100
Units Available
3 Rentals
If you’re looking for a great, affordable neighborhood in Roanoke, Raleigh Court might be the perfect place! It has an average rent price of $1,033, while the city’s average stands at $1,080. In the last year, prices have increased by 3.5%. Raleigh Court is near Mill Mountain Zoo, Virginia Western Comm. Coll., and Towers Shopping Center.
Hollins
Average Rent
$1,174/Month
Year-Over-Year Rent Change
5%
TransitScore® Rating
1/100
Units Available
7 Rentals
Hollins is a top choice for budget-conscious renters for a variety of reasons. The average rent in Hollins is $1,174 while the city average is $1,080. This is a 5% difference from last year. Residents enjoy convenient access to Roanoke/Blacksburg Regional (Woodrum Field), Hollins University, and Wolf Creek Greenway. The neighborhood is considered car-dependent with a WalkScore® of 35.
Williamson Road
Average Rent
$1,189/Month
Year-Over-Year Rent Change
2.5%
TransitScore® Rating
33/100
Units Available
26 Rentals
When you’re looking for a great Roanoke neighborhood on a budget, check out Williamson Road. The average rent is $1,189, compared to the city average of $1,080. Rent prices have increased by 2.5%. Williamson Road is convenient to Whiteside Plaza, Roanoke College, and Mill Mountain Park and Discovery Center. The community is car-dependent with a WalkScore® of 47.
Fair Land
Average Rent
$1,207/Month
Year-Over-Year Rent Change
10.3%
TransitScore® Rating
30/100
Units Available
5 Rentals
Fair Land is an affordable neighborhood in Roanoke with an average rent price of $1,207. Compare this to the city average of $1,080. In the past year, rent prices have increased by 10.3%. Fair Land provides easy access to Roanoke Plaza, Valley View Promenade, and Science Museum of Western Virginia. It’s a car-dependent neighborhood with a WalkScore® of 33.
Belmont
Average Rent
$1,262/Month
Year-Over-Year Rent Change
4.4%
TransitScore® Rating
45/100
Units Available
22 Rentals
If you’re looking for a great, affordable neighborhood in Roanoke, Belmont might be the perfect place! It has an average rent price of $1,262, while the city’s average stands at $1,080. In the last year, prices have decreased by 4.4%. Belmont is near Mill Mountain Zoo, Mill Mountain Park and Discovery Center, and Roanoke Ivy Market.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.