Cheapest Neighborhoods in Roanoke, VA
Some of the cheapest neighborhoods in Roanoke are Hollins, Downtown Roanoke City, and Williamson Road. These neighborhoods offer some of the lowest rent prices in Roanoke, making them ideal for renters on a budget. As of June 12, 2026, the average rent in Roanoke is $1,118, which is 2.5% 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.
Hollins
Average Rent
$1,141/Month
Year-Over-Year Rent Change
4.5%
Units Available
18 Rentals
Hollins is a top choice for budget-conscious renters for a variety of reasons. The average rent in Hollins is $1,141 while the city average is $1,118. This is a 4.5% difference from last year. Residents enjoy convenient access to Roanoke/Blacksburg Regional (Woodrum Field), Radford University Carilion, and Mill Mountain Park and Discovery Center.
Downtown Roanoke City
Average Rent
$1,169/Month
Year-Over-Year Rent Change
0.6%
Units Available
15 Rentals
When you’re looking for a great Roanoke neighborhood on a budget, check out Downtown Roanoke City. The average rent is $1,169, compared to the city average of $1,118. Rent prices have increased by 0.6%. Downtown Roanoke City is convenient to Bennington Place, Virginia Western Comm. Coll., and Roanoke Ivy Market.
Williamson Road
Average Rent
$1,207/Month
Year-Over-Year Rent Change
3.4%
Units Available
15 Rentals
Williamson Road is an affordable neighborhood in Roanoke with an average rent price of $1,207. Compare this to the city average of $1,118. In the past year, rent prices have increased by 3.4%. Williamson Road provides easy access to Roanoke/Blacksburg Regional (Woodrum Field), Valley View Station, and Science Museum of Western Virginia.
Cave Spring
Average Rent
$1,344/Month
Year-Over-Year Rent Change
5.3%
Units Available
40 Rentals
If you’re looking for a great, affordable neighborhood in Roanoke, Cave Spring might be the perfect place! It has an average rent price of $1,344, while the city’s average stands at $1,118. In the last year, prices have increased by 5.3%. Cave Spring is near Virginia Western Comm. Coll., Science Museum of Western Virginia, and Wolf Creek Greenway.
Miller Court-Arrowood
Average Rent
$1,355/Month
Year-Over-Year Rent Change
3.8%
Units Available
26 Rentals
Miller Court-Arrowood is a top choice for budget-conscious renters for a variety of reasons. The average rent in Miller Court-Arrowood is $1,355 while the city average is $1,118. This is a 3.8% difference from last year. Residents enjoy convenient access to Roanoke/Blacksburg Regional (Woodrum Field), Science Museum of Western Virginia, and Roanoke College.
Airport
Average Rent
$1,402/Month
Units Available
16 Rentals
When you’re looking for a great Roanoke neighborhood on a budget, check out Airport. The average rent is $1,402, compared to the city average of $1,118. Airport is convenient to Roanoke College, Mill Mountain Park and Discovery Center, and Virginia Western Comm. Coll..
Colonial Avenue Area
Average Rent
$1,433/Month
Year-Over-Year Rent Change
1%
Units Available
14 Rentals
Colonial Avenue Area is an affordable neighborhood in Roanoke with an average rent price of $1,433. Compare this to the city average of $1,118. In the past year, rent prices have increased by 1%. Colonial Avenue Area provides easy access to Science Museum of Western Virginia, Virginia Western Comm. Coll., and Wolf Creek Greenway.
South Jefferson
Average Rent
$1,440/Month
Year-Over-Year Rent Change
0.8%
Units Available
26 Rentals
If you’re looking for a great, affordable neighborhood in Roanoke, South Jefferson might be the perfect place! It has an average rent price of $1,440, while the city’s average stands at $1,118. In the last year, prices have increased by 0.8%. South Jefferson is near Mill Mountain Park and Discovery Center, Virginia Western Comm. Coll., and Wolf Creek Greenway.
Walnut Hill
Average Rent
$1,486/Month
Units Available
24 Rentals
Walnut Hill is a top choice for budget-conscious renters for a variety of reasons. The average rent in Walnut Hill is $1,486 while the city average is $1,118. Residents enjoy convenient access to Mill Mountain Zoo, Bennington Place, and Mill Mountain Park and Discovery Center.
Mecca Gardens
Average Rent
$1,699/Month
Year-Over-Year Rent Change
3.4%
Units Available
26 Rentals
When you’re looking for a great Roanoke neighborhood on a budget, check out Mecca Gardens. The average rent is $1,699, compared to the city average of $1,118. Rent prices have increased by 3.4%. Mecca Gardens is convenient to Mill Mountain Park and Discovery Center, Mill Mountain Zoo, and Hollins University.
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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.