Most Affordable Neighborhoods in Roanoke, VA

Some of the cheapest neighborhoods in Roanoke are Raleigh Court, 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 April 4, 2025, the average rent in Roanoke is $1,091, which is 6% 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.

Raleigh Court

Average Rent

$875/Month

Year-Over-Year Rent Change

0.9%

TransitScore® Rating

28/100

Units Available

2 Rentals

Raleigh Court is a top choice for budget-conscious renters for a variety of reasons. The average rent in Raleigh Court is $875 while the city average is $1,091. This is a 0.9% difference from last year. Residents enjoy convenient access to Hollins University, Wolf Creek Greenway, and Science Museum of Western Virginia. The neighborhood is considered somewhat walkable with a WalkScore® of 67.

Old Southwest

Average Rent

$999/Month

Year-Over-Year Rent Change

0.1%

TransitScore® Rating

45/100

Units Available

4 Rentals

When you’re looking for a great Roanoke neighborhood on a budget, check out Old Southwest. The average rent is $999, compared to the city average of $1,091. Rent prices have decreased by 0.1%. Old Southwest is convenient to Science Museum of Western Virginia, Towers Shopping Center, and Wolf Creek Greenway. The community is walkable with a WalkScore® of 73.

Roundhill

Average Rent

$999/Month

Year-Over-Year Rent Change

0.6%

TransitScore® Rating

30/100

Units Available

4 Rentals

Roundhill is an affordable neighborhood in Roanoke with an average rent price of $999. Compare this to the city average of $1,091. In the past year, rent prices have increased by 0.6%. Roundhill provides easy access to Valley View Mall, Radford University Carilion, and Woodpecker Ridge Nature Center. It’s a somewhat walkable neighborhood with a WalkScore® of 59.

Garden City

Average Rent

$1,016/Month

TransitScore® Rating

21/100

Units Available

4 Rentals

If you’re looking for a great, affordable neighborhood in Roanoke, Garden City might be the perfect place! It has an average rent price of $1,016, while the city’s average stands at $1,091. Garden City is near Hunting Hills Plaza, Roanoke Ivy Market, and Science Museum of Western Virginia.

Riverdale

Average Rent

$1,016/Month

Year-Over-Year Rent Change

7.3%

TransitScore® Rating

22/100

Units Available

4 Rentals

Riverdale is a top choice for budget-conscious renters for a variety of reasons. The average rent in Riverdale is $1,016 while the city average is $1,091. This is a 7.3% difference from last year. Residents enjoy convenient access to Radford University Carilion, Bennington Place, and Virginia Western Comm. Coll.. The neighborhood is considered car-dependent with a WalkScore® of 22.

Preston Park

Average Rent

$1,049/Month

Year-Over-Year Rent Change

3.9%

TransitScore® Rating

28/100

Units Available

3 Rentals

When you’re looking for a great Roanoke neighborhood on a budget, check out Preston Park. The average rent is $1,049, compared to the city average of $1,091. Rent prices have increased by 3.9%. Preston Park is convenient to Roanoke/Blacksburg Regional (Woodrum Field), Hollins Plantation Plaza, and Radford University Carilion. The community is somewhat walkable with a WalkScore® of 61.

Hollins

Average Rent

$1,132/Month

Year-Over-Year Rent Change

4.7%

TransitScore® Rating

1/100

Units Available

15 Rentals

Hollins is an affordable neighborhood in Roanoke with an average rent price of $1,132. Compare this to the city average of $1,091. In the past year, rent prices have increased by 4.7%. Hollins provides easy access to Wolf Creek Greenway, Mill Mountain Park and Discovery Center, and Brookside Shopping Center. It’s a car-dependent neighborhood with a WalkScore® of 35.

Williamson Road

Average Rent

$1,168/Month

Year-Over-Year Rent Change

3.8%

TransitScore® Rating

33/100

Units Available

20 Rentals

If you’re looking for a great, affordable neighborhood in Roanoke, Williamson Road might be the perfect place! It has an average rent price of $1,168, while the city’s average stands at $1,091. In the last year, prices have increased by 3.8%. Williamson Road is near Virginia Western Comm. Coll., Woodpecker Ridge Nature Center, and Mill Mountain Zoo.

River Land

Average Rent

$1,175/Month

TransitScore® Rating

34/100

Units Available

2 Rentals

River Land is a top choice for budget-conscious renters for a variety of reasons. The average rent in River Land is $1,175 while the city average is $1,091. Residents enjoy convenient access to Wolf Creek Greenway, Science Museum of Western Virginia, and Roanoke Ivy Market. The neighborhood is considered car-dependent with a WalkScore® of 46.

Belmont

Average Rent

$1,205/Month

Year-Over-Year Rent Change

3.3%

TransitScore® Rating

45/100

Units Available

31 Rentals

When you’re looking for a great Roanoke neighborhood on a budget, check out Belmont. The average rent is $1,205, compared to the city average of $1,091. Rent prices have decreased by 3.3%. Belmont is convenient to Bennington Place, Hollins University, and Wolf Creek Greenway. The community is walkable with a WalkScore® of 73.

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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.