Last updated
Average Rent in Roanoke 24016 & Rent Trends
Rent prices and market trends across 2 apartment communities in Roanoke 24016, Roanoke VA. Updated daily.
Market Average
$1,574/mo
Lowest Available
$1,300/mo
cheapest unit on market
Communities
2
tracked daily
Units Listed
36
available now
Roanoke 24016 vs Roanoke VA Average
Roanoke 24016 is more expensive the Roanoke VA average by $53/mo (3%). The citywide average is $1,521/mo across all neighborhoods.
Is Rent Going Up or Down in Roanoke 24016?
As of May 2026, the average rent in Roanoke 24016 is $1,574 per month across 2 apartment communities and 36 available units.
The most affordable option is Cotton Mill Lofts starting at $1,300/mo. By unit type, a 1-bedroom averages $1,470/mo, a 2-bedroom averages $1,937/mo.
Prices range from $1,300 to $2,300 per month. The most common price point is the $1,400 range, where 19 units are currently listed.
Roanoke 24016 Rent Price History
Collecting price history
Daily snapshots are being recorded. Trend charts will appear once we have enough data points.
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Roanoke 24016
Rent Prices by Apartment in Roanoke 24016
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Cotton Mill Lofts | $1,300/mo | $1,617/mo | 7 | 4 |
| Century Bridges | $1,340/mo | $1,563/mo | 29 | 4.3 |
Google Search Trends for Roanoke 24016 Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Roanoke 24016
What is the average rent in Roanoke 24016?
Is rent going up or down in Roanoke 24016?
What is the cheapest apartment in Roanoke 24016?
How much is a 1-bedroom apartment in Roanoke 24016?
How many apartments are available in Roanoke 24016?
What salary do I need to live comfortably in Roanoke 24016?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$63,000/year
30 percent rule -- using our average rent of $1,574/mo.
Comfortable income
$76,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,300/mo), you need to earn at least $52,000/year.
Cost of living in Roanoke 24016
We only have live rent data for Roanoke 24016 so far. The full cost of living breakdown (utilities, groceries, transportation, healthcare) is coming soon.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,574 |
| Estimated total | $1,574/mo |
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures are refreshed annually.
Explore Roanoke 24016 Apartments
Browse all 2 communities with daily-updated pricing and availability.