Most Affordable Neighborhoods in Roanoke, VA

Some of the cheapest neighborhoods in Roanoke are Roundhill, Garden City, and Riverdale. These neighborhoods offer some of the lowest rent prices in Roanoke, making them ideal for renters on a budget. As of April 24, 2025, the average rent in Roanoke is $1,071, which is 0.1% 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.

Roundhill

Average Rent

$969/Month

Year-Over-Year Rent Change

0.7%

TransitScore® Rating

30/100

Units Available

5 Rentals

Roundhill is a top choice for budget-conscious renters for a variety of reasons. The average rent in Roundhill is $969 while the city average is $1,071. This is a 0.7% difference from last year. Residents enjoy convenient access to Valley View Shopping Center, Wolf Creek Greenway, and Mill Mountain Zoo. 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 $1,071. Garden City is convenient to Wolf Creek Greenway, Hunting Hills Plaza, and Mill Mountain Zoo. 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 $1,071. In the past year, rent prices have increased by 7.3%. Riverdale provides easy access to Orange Plaza, Mill Mountain Zoo, and Hollins University. It’s a car-dependent neighborhood with a WalkScore® of 22.

River Land

Average Rent

$1,108/Month

TransitScore® Rating

34/100

Units Available

3 Rentals

If you’re looking for a great, affordable neighborhood in Roanoke, River Land might be the perfect place! It has an average rent price of $1,108, while the city’s average stands at $1,071. River Land is near Hollins University, Bennington Place, and Wolf Creek Greenway.

Old Southwest

Average Rent

$1,187/Month

Year-Over-Year Rent Change

0.3%

TransitScore® Rating

45/100

Units Available

10 Rentals

Old Southwest is a top choice for budget-conscious renters for a variety of reasons. The average rent in Old Southwest is $1,187 while the city average is $1,071. This is a 0.3% difference from last year. Residents enjoy convenient access to Roanoke Ivy Market, Mill Mountain Zoo, and Roanoke College. The neighborhood is considered walkable with a WalkScore® of 73.

Fair Land

Average Rent

$1,207/Month

Year-Over-Year Rent Change

4.4%

TransitScore® Rating

30/100

Units Available

4 Rentals

When you’re looking for a great Roanoke neighborhood on a budget, check out Fair Land. The average rent is $1,207, compared to the city average of $1,071. Rent prices have decreased by 4.4%. Fair Land is convenient to Mill Mountain Park and Discovery Center, Roanoke College, and Radford University Carilion. The community is car-dependent with a WalkScore® of 33.

Belmont

Average Rent

$1,219/Month

Year-Over-Year Rent Change

4.2%

TransitScore® Rating

45/100

Units Available

32 Rentals

Belmont is an affordable neighborhood in Roanoke with an average rent price of $1,219. Compare this to the city average of $1,071. In the past year, rent prices have decreased by 4.2%. Belmont provides easy access to Hollins University, Roanoke Ivy Market, and Roanoke College. It’s a walkable neighborhood with a WalkScore® of 73.

Hollins

Average Rent

$1,264/Month

Year-Over-Year Rent Change

4.6%

TransitScore® Rating

1/100

Units Available

10 Rentals

If you’re looking for a great, affordable neighborhood in Roanoke, Hollins might be the perfect place! It has an average rent price of $1,264, while the city’s average stands at $1,071. In the last year, prices have increased by 4.6%. Hollins is near Science Museum of Western Virginia, Radford University Carilion, and Hollins University.

Downtown Roanoke City

Average Rent

$1,267/Month

Year-Over-Year Rent Change

1.9%

TransitScore® Rating

51/100

Units Available

41 Rentals

Downtown Roanoke City is a top choice for budget-conscious renters for a variety of reasons. The average rent in Downtown Roanoke City is $1,267 while the city average is $1,071. This is a 1.9% difference from last year. Residents enjoy convenient access to Bennington Place, Hollins University, and Roanoke Ivy Market. The neighborhood is considered walkable with a WalkScore® of 90.

Miller Court-Arrowood

Average Rent

$1,350/Month

Year-Over-Year Rent Change

1.7%

TransitScore® Rating

24/100

Units Available

19 Rentals

When you’re looking for a great Roanoke neighborhood on a budget, check out Miller Court-Arrowood. The average rent is $1,350, compared to the city average of $1,071. Rent prices have increased by 1.7%. Miller Court-Arrowood is convenient to Radford University Carilion, Roanoke/Blacksburg Regional (Woodrum Field), and Wolf Creek Greenway. The community is car-dependent with a WalkScore® of 33.

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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.