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.